Owner: One Bad Trade URL:http://onebadtrade.blogspot.com/ Join Date: Sat, 10 Feb 2007 21:18:32 -0600 Rating:0 Site Description: A blog used to document my progress in trading. Site statistics:Click here
Drained.. 1970-01-01 00:59:59 Seems like I start off with a loss almost everyday. I had a $90 loss on my third trade bringing me down a little over $100. I had to really claw my way back with small little scalps. When I was down $20 a great relief came over me.Then things began to turn again. I started having some small losses. I was down $50, then $80 then $100 again. I increased my size and got hit with a $37 and $54 loss. I was down $180 and I felt drained. The $20 loss I had earlier looked so good and so distant.One part of me was going to give up and call it a day. Another part of me is telling me to trade because there is a chance. I continued trading and managed to trim my loss down to $60.
Trying to regain my feel 1970-01-01 00:59:59 I started out down again. I lost around $80 after the first few trades. I had to really slow down and regain my composure. I told myself that if I keep my loss small I have a chance of coming back. The market was pretty choppy in the morning and there was a lot of whipping action in my stocks. I was real selective and it paid off when I caught some small profitable scalps. I am still trying to figure out how to trade hybrid stocks. It reminds me of the time when I first started trading. I feel like a newbie again. I made around $108 today.
Bucked the Friday losing streak 1970-01-01 00:59:59 I had big losses the last two weeks and they both fell on a Friday
. I would work hard to put up some gains and give most of it back on Friday. I made money today and it feels good end the week with some gains. I started off with a good trade in CXW. The stock flew from the open. I made around $180 on a 200 share position. I wish I had more shares but these days I am sticking with small size until I can consistently net over $100 daily. I also need to build confidence and conviction on trading my setups. As the day progress I caught some gains here and there and had minimal losses. I ended the day with $330.
Just a few trades 1970-01-01 00:59:59 The market sold off fast this morning. I did not want to chase the stocks down so I just waited. I just caught two small scalps and made $55 today.
Came back from a loss 1970-01-01 00:59:59 Today I started out slowly to test the waters. I was still flat at around 11am. The market did not look like it would do much today. There are a bunch of key economic reports coming up the next two days so traders probably would not do much ahead of key data. I told myself to just relax and take it real slow. Right after that I had itchy trigger fingers. I lost two trades in a row. After two bad trades I found myself looking at a $130 loss. In both trades I held on to my position a bit too long. I probably would have lost only half that amount if I got out fast.I need to wait for a consolidation on MR. I bought when the price was over extended. It moved up from 70 cents already from a low of 25.80.The WCI trade was an impulsive trade. WCI came up in my scan earlier. I saw the stock after the nice up move was over. I tried to play a bounce on the stock. I have a tough time trading hybrid issues. If you look at the 1 minute chart on the right you will see how fast it drop
This is not trading 1970-01-01 00:59:59 I had a frustrating trading experience today. I started of with a loss of $160. I was able to bring it back down to -$35. I just kept losing a little here and there and ended up with a $275 loss. On my last trade I lost $50. I basically gambled with a 1000 share trade. What ticks me off even more was right after I got out the stock goes up 20 cents. That tells me I have to stop trading for the day. My loss today wipes out two days of gains. I probably made all the mistakes you can think of which includes revenge trading, fearful trading, trading without a plan etc.
Small loss 1970-01-01 00:59:59 I lost $21 today. I am still practicing with small size while I figure out how to trade again. Read more:Small
Struggle continues 1970-01-01 00:59:59 I have been struggling. I noticed that I have formed some bad habits. I got into a 200 share position in POT today at around 10:05 am. The market had a bounce so I bought 100 shares of POT at 136.35 for a quick bounce. When the stock went down instead, I should have gotten out. I added another 100 shares with a market order got filled at 136.43. The stock went down and I held on hoping for it to come back. I finally got out at 135.89 and lost $100 on the trade. I will keep my size small until I better at cutting my losers.I ended my day up $65. I am happy to be positive.
My gains got cut down again 1970-01-01 00:59:59 I had some good trades in SGR in the morning. I manage to make around $250 trading small 300 share positions. After that I my gains
were chipped away as I took sloppy trades. I traded 7 other stocks and lost money in all of them. I have a win rate of 30% today, a pretty weak number. I ended my day up $115.
Froze as the market rallied 1970-01-01 00:59:59 I spent an hour coming up with a watchlist of longs for the day. The market opened and shot straight up. I froze and did not enter because I did not want to chase. Many of my stocks have already moved over 50 cents. I almost gave in to temptation. My finger was about to push the buy button when a voice in my mind told me to stop and have patience. Maybe I could have made money but that would build a bad habit. I found a trade in RHD. Other than that I did not catch anything else. I had two 200 share trades which cost me over $100 again because I did not cut my loss. I am up $155 for the day.
Did better today 1970-01-01 00:59:59 Today I was patient and was able to find a good trade in ABC. I got 300 shares at an average price of 50.55. Sold 100 at 51.65. Then I got stopped out of the rest at 51.36 and 51.32. I was a bit greedy on my 200 shares. The stock went up to around 52.18 and sold of sharply. After that I had a 40 cent move on 300 shares APD which turned into a loss of 11 cents because I wanted to let it ride. I did not really catch anything after that, just churned and gave away some profits. I ended the day up $200. Read more:better
Blog Spotlight 1970-01-01 00:59:59 I want to thank MC over at Pinoy Trader for giving me some insight into his trading style. I just discovered his blog this week and I love it. He shows us his trades with entries/exit, risk/reward and his reasoning behind the trades. He is extremely consistent and really knows how to max out those R's. Read more:Spotlight
1 out of 9 1970-01-01 00:59:59 I took nine trades and only had one winner. I am trying hard to keep myself awake. I am going to call it a day. I am down $178.
I shaped up today 1970-01-01 00:59:59 After two days of losses I was really careful in finding my trades. I did have a bonehead trade in LVS right near the open. I can remember it clearly. I got 100 shares at 106.70 and sold at 106 losing $70 in the trade. I was thinking about how much I would make because LVS could easily make $2 moves. It is not easy to make $70 and I lost it in a less than a minute. I think trading the open requires a different strategy and I need to work on that. I am going to stick to making trades after 10am from now.I really calmed down and took my time to scan through my charts for setups. I managed to find a couple and I had the discipline to let them run. I ended the day with $597.This was my best trade of the day.
Stick to my stops or bail early 1970-01-01 00:59:59 I made $250 today. There was one trade that got me for $105. There were some red flags after I got in but I decided to stick to my stops. On this trade I bailed before my stop was hit and the stock zooms up over $3. Read more:Stick
Three good trades and no big hits 1970-01-01 00:59:59 CCJ was nice. Fast and sweet. I don't get trades like this often. I hope this is a start of a trend.HMN was also nice and smooth.DF was tough and it tested me when it dipped. I am trading small so I am able to withstand the wiggle. If I was scalping I would have 500+ shares and that would have shaken me out. I don't think I would go back to scalping now. I am beginning to like this style of trading.I made $600 today. Read more:Three
Good day but greed got to me 1970-01-01 00:59:59 I got 200 shares at 74.35. Stock rallies to 75.98 giving me 1.63 but I was very greedy. I drew a fib extension from the previous days low to the break out level and got a target of 76.50 at the 138.2 extension. Stock hit a brick wall at 76 and I stubbornly held on. I finally got out at 74.90. Then I pissed my profits away trying to play a bounce on the stock. I ended up making a measly 2 dollars before commissions.Other than this I caught some decent moves. I made $700 today.
A humbling experience 1970-01-01 00:59:59 I was very impatient in the morning. I was telling myself to be selective but I was doing the opposite. After my loss in SNA, I just lost my focus. I was thinking about making my money back. I took a couple more hits after that and I was down $360. Later on in the day I caught ASN, but since I had a fearful mindset I took profits early. I brought my loss down to around $160. When I saw it continue to go up I went back to scalping because I was desperate to recover. I found that my efforts were futile as I racked up $40 worth of small losses and commissions.I got a lot to learn. I was lucky last week because I caught the right stocks. These past two days the market behaved differently and I have been losing money because I was trying to trade the way I did last week. To make matters worse also I increased my size. Better moves came in the afternoon, but I had no confidence to trade them. I am going to cut my size down to 100-200 share positions and be very selective on my Read more:experience
Confident start turned into fear and confusion 1970-01-01 00:59:59 After couple days of gains I was a little over confident. I was not selective and got hit with a couple losers in the morning. I found myself down around $230. I still got some wind on my back and quickly took some trades which worked out. I was sitting on a paper gain of $300. I felt really greedy and decided to let it ride. I watched my gains drop back down to around $120. Then fear kicks in and I took my profits because I did not want to give it back. That was a big mistake because one of my stocks, HAE kept going up. After taking profits I was still down $110. Later on during the day I went into two bad trades which cost me $158. My internet connection also dies during this time. I had a stop on HRS and was stopped out. I got out of MTW when my connection came back.I lost $270 today. Read more:Confident
, confusion
, turned
Better today 1970-01-01 00:59:59 I caught two decent trades today.I went into STJ on the break of the third bar high. Bought 200 shares at 40.91 and 100 at 40.92.I sold 100@41.89 + 97.67100 @41.82 + 90.67and got stopped out on my last 100 at 41.55 on the 7th bar. +63.67I also caught a trade in CVD. Bought 100 at 58.57, 200 at 58.58.Sold 100@58.98 + 40.33Sold 100@59 +42.33Sold 100@59.56 +98.33I got out too soon. I have to continue to improve my trade management skills. I got to let go of my scalping mindset.When I was trading I noticed my scalping mindset creeping back. I took a lot of trades that were not part of my plan. I was anticipating moves and trying to catch reversals without waiting for a confirmation(green bar, hammer, etc.) My losing trades added up to $206.Overall, I think my trading improved. I made $350 today. Time will tell if I can keep this consistency going.
A good day 1970-01-01 00:59:59 I caught some nice moves today. I traded GWW, FMD, CSH, and SYK. I was patient in my trades and gave them room to run. I took partial profits when my trades moved a decent amount and got stopped out on the rest. I made $800 today.
Today was a bit tricky 1970-01-01 00:59:59 The market was pretty choppy today and when it looked like it was going to break out at 1pm it sold off. Then it chopped around the last two hours.I wasn't very selective today and that cost me some money. One of the trades I took was CMI on the break of the 3rd bar. I had 200 shares at 128.51 and was stopped out at 128.03, 128.02 with a $97 loss. I should be a bit more selective because the second bar closed red with a topping tail.I did manage to catch a nice trade in UA which helped keep my day positive. I ended the day with $190. Read more:Today
A lesson that I need to remember 1970-01-01 00:59:59 There were many opportunities today. I happen to be in a few but I messed up the trades. I got into the trades but I was worried that my stops would be hit so I got out of them prematurely. Then the stocks rockets away without me. I need to stick to my stop and let the trade work instead of second guessing my entry.Here is one of the trades . I got into AXE on the break of the 4th bar. The stock had nice spike but traded all the way back down. I saw my 45 cent profit evaporate and my winner turned into a loss. I got out on the 6th bar right near the low of the bar with a $63 loss. The stock had an awesome move and I was left out. I had a nice gain of $650 today but it could have been much better if I stuck to my stops. Read more:lesson
Got nothing. 1970-01-01 00:59:59 There were many good shorts today but I did not look hard enough. By the time I saw them it was too late. I am going to call it a day. I am down $85.
What's in Warren Buffett's wallet? 1970-01-01 00:59:59 "WarrenBuffett
's 24-year-old wallet
was recently purchased for $210,000 at a charity auction because it included a stock tip. But before Buffett sent his wallet to the winning bidder, he removed a significant and personal item that reveals 10 secrets to his extraordinary wealth-building success."I just came across this info yesterday. You can read about it here. This should be a great addition to Flatwallet's wallet since there is a lot of room. Read more:Warren Buffett
Small loss 1970-01-01 00:59:59 I did not start trading until noon. I took two trades and lost on both. I was not feeling confident so I just stopped trading. I am down $59. Sometimes it is better to accept a small loss than try to make it back. I experienced many days when small losses piled up into big losers because I wanted to break even. Read more:Small
Emotions dictated my trading today 1970-01-01 00:59:59 For some reason I was trading scared today. I traded in a very defensive way. I did not want to lose any money. Whenever I was in a trade I found some reason to get out. I messed up three trades which would have been very nice. I ended the day with $70.
Small loss 1970-01-01 00:59:59 I lost $13 today. I was down around $125 at around 2pm. My 200 share position in ACS helped me recover most of my loss. Read more:Small
Losses messed up my game 1970-01-01 00:59:59 I tried trading AXR for the first time and he was rough on me. I lost $165 on a 200 share trade. I also had a few other stop outs after that, so even though I did not look at my PnL, in my mind I estimated that I was down over $200. With the loss in my mind I got out of my trade in LTM early. If I were to trail my stop I could have made a lot more and recovered my losses. I was down $50 after getting out of LTM. I got hit again on two trades and was down $144. I made a comeback when I caught POT and TAP near the end of the day. I am up $138 for the day. Read more:Losses
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