Monday, May 17, 2010

yee haw! almost nailed a bunch of 'em
















shorted after the doji's easy money. the trick would be to long it after the kind of hammer
















breaking highs big exhaustion volume. nice pullback that could have been bought
















caught the top of that one, oops. nice pullback. i put a bid at .05 that never got hit.
















huge volume on the lowest bar. i will be honest and say i didn't realize that until reviewing the charts. obvious time to start buying
















again big down bar with volume



















shorted it. shorted more. stopped out of second piece, then i re-shorted some. covered on the move down. i wasn't too comfortable with the price i had taken nor the price action. it retraced nicely to the EMA but it seems like you could have easily been stopped out of there with all the chop, then it had nice fall. the difference with this stock and say, fslr or fls, the stock was already down huge on the open. how much room to run? granted, i have no expectation but i have to have some inkling of a higher probability trade.
















with yesterday in view.
















shorted after the round of doji's. a little to far from the EMA for my liking. somebody was buying the shit out of it at the whole which got me nervous. not the right move
















no trade but here is a chart for memory. goes down, nice retracement, and boom, drops. i know fslr has a big spread, but with a chart like this, you got to take the risk.
















again, down, retracement, and down again. committ to memory
















the real spot to short was at my line that i drew but, it didn't base enough for me. i didn't think it was going to go that far. but instead of getting more shares of PWRD, i should have given FCX a shot. i wound up trying to purchase down there. i have to remember to let the candles play out. obviously, this one wound up red and i would have never traded it. i then shorted the doji, which was a good trade. got stopped out. i just needed to reshort it again. now again, i am noticing the huge volume on the down move. easy spot to get long
















i meant to buy TNA
















okay. here is a great chart. i was chatting with someone who wanted to buy it at 72. i said right now, the way i play it, i would short it at right here at the EMA, he said he would be a buyer around 72. we were both right. then it doji'd and turned over. maybe you get out after the highs break the consolidation high and get long. then short after the dojis and cover on the hammer and long again. after the hammer, the chart isn't saying much to me but, you can see how trading can be when you let the market speak to you and you not interpret what it is saying.
















speechless.
















okay, so here is the deal. i got long as it was breaking highs. the volume was high, but i don't think it was out of control. at the end of the 5 minute candle, i closed. i waited for it to make a new high and then i shorted it with the new high as my stop, about .10 away. then the stock ripped through my stop and went like a maniac. lessons here, the buying volume wasn't extraordinary so i shouldn't have been to afraid of an exhaustion bar and kept the original long. after i was stopped out of the short, i should have just gone long risking the bottom of the candle. no big deal. not much risk. i nailed the entry, but like usual, the exit, this time was really terrible.
















second retracement to the ema. i thought second retracements were succesful but i am going to have to check that with my older charts.
















scalping away again in tempeville. i was trying to scalp AAPL with the q's. i thought maybe since i am so ancy at taking profits, scalping would be better for me, but i think i prefer finding beautiful charts and risking my money on those.

most of the day was boring as i was going through charts trying to find good setups. i realized that is how it should be, boring. waiting for the correct setups to play out. waiting for the candle to complete. stalking the stocks. and then when something breaks, take it baby. then the ride is exciting.

i feel good. i see that there is opportunity all day long. there is no reason to blow my money on some mediocre setup, because later on there is an a+ setup.

trade what you see not what you want to see, hard to do

3 comments:

  1. Awesome day - you found some winners! APOL - heh, what a beauty.

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  2. can you short the TNA with IB? it is hard to borrow for me.

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  3. yeah - I didn't have any problems shorting it yesterday.

    On APOL: I see your trade now, I missed it somehow yesterday. I think that is what got me in trouble yesterday as well - trying to anticipate the reverse. I am going to try and stay away from that today.

    Here's to some good trading!

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