sick uptrend all day
i was short BIDU and saw the market going up. i thought i would catch RIMM for a long, i guess i need to wait until the candle is done.
i was calling this in realtime, short the 1055 doji, long the 1115 hammer, short the 1230 doji, but didn't do anything about it. didn't put the trades on. the best was teh 1230 doji, i said should we short this, and boom, pretty crazy then you would long the hammer and probably get stopped out if you held that long, and then buy the next hammer at 2pm. it's as easy as that. but right now, i can't trade it properly. lots of visualization this weekend to make sure i am trading these moves.
DTF gorgeous mover. nice downtrend, retracment to the ema, ideal situation for me but the stop was pretty far away by the time the candle closed. i wait on this candle to form but i don't with RIMM, go figure.
i was trying to play this stock with the market. obviously, it wasn't working. but i saw x and fcx both crumble. i think i realized, i need to have a basket of go to stocks, and was contemplating setting up a basket order. i have never had experience with them, but it would be nice to click one button, and get 100 shares of each other long or short.
so, lesson today. believe in yourself, believe you can do it. diversify, short x, short fcx, short bidu, long eev, spread the money out. today BIDU didn't budge, but the other stocks did.
lesson two: you can see from the FCN and OII charts, they didn't care what the market did. i think when i am playing the movers, i trade the pullbacks to the ema. when i am trading the q's, i trade x,fcx,eev,tna,vxx. don't base the trades for the movers on the q's. they are there identity.
mucho tired brothers and sisters. glad there is a long weekend. i have a drink for all of you.
a little gift. i realize some people might see the name and think i am egotistical calling myself the fozzking, but in reality this guy is the fozzking. in this photo, he coat is completely shaven because he had surgery in order to prolong his life by 6 months or so. can you see those big old paws, i love 'em.
this is Tootsie Pop
Goody Goody (i don't know why this is underlined, and i can't make it stop)
a shot from my old job working with the jets. pretty clever name for a private terminal.
Friday was a fun day - even with a continued losing streak lol.
ReplyDeleteOne thing I have been trying to do is actually buy early - buy on the near term support side, e.g., the entry on OII would have been a limit order on the top side of the near term candles. This offers the chance for a great price point and tight stop. I almost think this is the way Scott plays some of the trades if you look at his charts.
Is that you in the picture? Those are some big dogs! Mind if I ask what line of work were you in on the airline industry? Pilot's license?
Here it is Saturday and I am reading about trading lol. I just enjoy it, all there is to it.
Have a great weekend man!
ha, checking charts on saturday. i guess i am guilty as well.
ReplyDeletei'm going to check some of scott's charts this weekend. are you referring to how he uses the most recent 15 mins or so of candles to put his stops on. with OII, are you referring to using the 1225 high as your high side for the 1pm short, or is that not near term enough?
no, i am not a pilot. i work for a mobile marketing firm www.ignition-inc.com . basically, you promote brands by driving them around the country, i.e. the oscar mayer wiener mobile. i have worked for ebay, burger king, indy racing league and even dressed up like santa claus for coca cola. amazing gig, travel the country for 5 years, living out of hotels for 48 weeks a year, and see the best of the best. so, i had the opportunity to do the mobile marketing for embraer executive jets. the large jet is a ERJ 145, which is a commercial plane, but the interior is the private version, called the Legacy 600. The small black and orange fuselage without wings, that is what i drove around in the back of an 18 wheeler. I would travel 2-3 cities a week, go to the private terminals, unload the fuselage and then the sales guy would fly in. The reason for this, there was no jet flying or certified at the time. In order to sell it, they needed the mock up (fuselage) to get around the country. It's like going to the BMW dealership, seeing the interior of the car, no wheels, no engine, and buying it but you won't get it for 5 years or so. Pretty amazing. I will put up some pics of the finished jet. It is incredible!
and that is me in the pic
ReplyDeleteCheck out this post: http://fearandgreedtrader.blogspot.com/2010/05/using-momentum-to-place-stops.html
ReplyDeleteHis entry is on the... let's call it the support side. I don't how he knew it was going to go up, or if he was playing both sides on the sideways movement, but either way he nailed it. That probably gave him a $0.10 head start on everyone else.
He mentions somewhere that he prefers to come in early. I had been waiting for confirmation, but after I noticed that last week, I started looking for very near term momo s/r and tried to get the jump. Tight stops and a jump on the competition.
Cool work stuff - are you doing it part time now? Independent?
i see what you are saying buy writing "support the trend". how scott times those trends is unreal. and to do long no less, i would have been looking to short it and i don't see anything that would say long.
ReplyDeleteno, i never saw that post with the video. i will check it out this weekend.
work is very very part time. maybe 6 or 8 weeks of work this year. there are other projects i can work i but i would have to travel again, and after 5 years constantly moving, it is nice to stay home, sit on my couch, cook dinner, and most importantly, trade.