Wednesday, June 16, 2010

















only traded tna qld, the rest are trades i should have caught. i closed the TNA because i bought it way to far away from the candle opening after the doji. TNA is a crazy stock, and it needs a tight stop or no trade at all.


















i wanted to buy after the highlighted doji. i put an order at .90 but it never got hit.
































wow, consolidation in the morning with a monster breakout. then a dump at the en of the day. unreal.
















i wasn't very happy with this trade. this would usually be a short for me, so i was quite hesitant. the reason i went long was because the tickers keep scrolling green, albeit slower, but they were still green. i can't remember my reasoning for getting out. i hope i had a good one. i don't think i should use the reasoning "momo slowed down" because i believe that is just an excuse or another term for i was anxious. i.e. "i was feeling anxious which most likely means the momo was slowing so i closed it". in reality, i don't think i am good enough to read momo exits yet, that i why i need to exit when the candle gives me a reason, not price action or PnL.
















i love that 1245 doji. but by this point i had already given up on the market. mostly it is due to boredom. it is amazing, this gig is actually very boring when you are waiting for signals and i believe that is the way it should be. i say, "i don't want to sit in this trade" and what, make $100 or $200. you know how many people who be overjoyed to be in my position. they would think i was a fool. and i agree i am. it is my job to sit and wait for a position, and then to watch it. can i tell you the two best trades i had was because i walked away from the screens. this was early on in my career, and i didn't realize i had a position or an order out there,and i left. came back some time later, and wow, i made how much? it just shows me, be patient, let the trade work.
















saw this end of day
















saw this during the day. i think i said this once before to myself. its only an $18, how far is it going to go. well, $1.50 dummy.

















todays view of GXDX. all day i was looking at the chart above, but if you zoomed to just todays trading, it really makes that pullback and doji pop, so a much easier trade to see. it is amazing to see the a small difference in chart settings can make you trade or not.
















i had a trendline alert. these alerts are hit or miss. sometimes they work and sometimes they don't. i always tell myself, set a price alert as well but i rarely do. i really must make it a point. i had that line drawn to alert me as soon as it went through. it would have been a monster trade.

















saw this in the daytime, i hesitated.


















i saw kind of red doji forming, and was thinking about taking it long, but i wasn't willing to give it the wiggle room it needed. it wasn't much, but AAPL like tna is a firecracker.

just positive on the day, maybe $25. but like i have said before, i don't learn anything on days like today except that i need to just let it go and trade. i hold back. i am so afraid of having a losing trade. i put on a couple green trades and my mind shuts down. the market felt choppy again to me today, but it seemed to have trended very well throughout the morning and mid afternoon. it is my job to sit here and be bored and wait for setups. that is it.

today, again, could have be phenomenal. i saw everything correctly, but didn't capitalize. putting on some green trades this week should be beneficial for my psyche but i need to make more. we will see if i step up to 200 shares tomorrow. the problem is, you put all this work into finding the right setups, letting the trade work, and you only make .50 on 100. if it was 200 shares now we are talking $100, and do it a few times a day you are making a living. trading 100 shares, its hard to make a living, but makes it easy to survive the learning curve.



3 comments:

  1. Nice post Joshua.

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  2. Hey man, nice post. I like your stuff on patience. Someone in my office always says that if you want real boredom, go flip burgers for 8 hours and then come back and complain about market action. Ha!

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  3. thanks guys. i know the posts aren't the most eloquent because they are just my brain spilling its thoughts end of day. but what they are, is unfiltered honesty that i can look back and see what i was thinking each day.

    tarigal, that is a great point about flipping burgers. who am i to complain that i had to sit here and make money.

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