Thursday, May 27, 2010
i don't know what this stock is, didn't see it until the end of the day
buying retracement
first i was shorting that red candle. then i realized it was the exhaustion move down, decent volume. i went long on the next candle, late though, covered quickly. i would have been a nice hold. but V is a tough one for me to trade. when you get it right, it moves like a beast, but if you are on the wrong side, look out.
what a close
saw end of day or when dtf pointed it out to me
pretty much an inside choppy day. but i realized, as many traders are super negative, there is no reason to be. there is always money to be made. just find the right stock, the right entry and you are good to go. wait for the doji, relax, let the chart show you, don't force it
first i shorted these dojis. then i covered and went long. closed as it pushed up. ideally, i should have waited until the candle closed to cover. again, an ideal short, it doesn't get much sweeter than that
dtf showed me this monster. some nice entries to get short but also some entries after 2pm where i would have shorted and gotten stopped out
i was watching BIDU as I was doing some marketing work. I was doing it because i made one good trade and didn't want to blow it. can you believe that? it has just been one losing trade after the next for me, so a couple days of seeing green is could for the mind. but you can see, excellent entries to short, cover, long, cover, shot, cover, long.....i should have traded it iinstead of just watching. now, tomorrow i will attempt to do this, and maybe it won't work. what i am trying to figure out though, is it not working because my mind isn't in the game or because the market isn't trading my style
wow, how far can a $13 stock fall, pretty freakin far, never have any expectations
i am realizing that i need to get my head around pushing the limits. i am so accustomed to stoping at +100, that is where i stop. i have been trying for the last few days, don't laugh now, but to visualize my ticker moving to 5000. now, normally, i would think 500 or 1000, but from some reading it said you really need to push the envelope here. i will concentrate on both. i am always thinking wow, that trade i could have made back all my losses. the reality is, if i just make $500 per day consistently, i will have all my losses back and then some.
also, i need to hit the "refresh" button every 5 minutes when i am trading. i need to look at the market with fresh eyes. if you are long, you are absorbing the market and looking for reasons for you to stay long. instead, i just need to say, what is it saying at this moment. i have to be in the present with no influences from my position. a hard thing to do. i also need to trade with a clock. i need to be the trade either 1/2 hour or have a reason for getting out, such as a doji. no bullshit exits. i am hammering this in my head by writing this hoping it helps, but it is really hard for me to do in actuality. time to make this work. it is the greatest job in the world, come on!
good luck tomorrow.
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wow - ntap set up beautifully. And you were on it bro. Keep watching and waiting. Demand an excellent entry and if you are wrong get out. If you are right - watch the stock move away.
ReplyDeleteMore to myself than anything =)
Thanks for sharing your thoughts - I need to remember freshness as well - both before I enter and when I am in.
Trade well tomorrow - I see that 5k rolling in!
thanks man, you don't think 5k is to much? i don't know. we will see.
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