Tuesday, June 15, 2010

















QLD
















i woke up and was super tired. i know when i wake up like this i am in a fog all day and usually do terrible trading. so i went back to bed and woke up an hour later, slightly more refreshed. i am glad i missed the morning session, because believe me, i would have been chopped to death. for this trade, i was watching the q's to break .23. they did, but i didn't enter right away. i waited until the end of the candle.

next time, i will probably just buy it. anyway, i bought the next candle with a far stop under the whole number. i added as it broke highs again. the market was just going nowhere and to me it felt like the push had run out of steam. is that a legitimate reason to exit? in hindsight, i am going to say i probably exited more over wanted to lock in $17 than lose $20 something, which, is technically, against the plan. but in the heat of the trade, i said its because momo slowed. but obviously it did, so i am totally confusing myself now i know. there was a great re-entry on the 20ema, but honestly, i thought the market was just going to chop in that tight range all day. it turns out, it chopped its way to news highs.

QQQQ

















DB
















no, trade, i was thinking about going long against the EMA around noon. if it had doji'd there, i may have gone long, but it just made some silly candles, nothing definitive.

CSTR
















now, that is more definitive to me. it already hit that low twice, was hanging on the 20 EMA so i went for it. i got out at the market was starting to tick more rapidly. i thought i would sell into the push.

BP

















this little beast was popping. bought at a good price, bought more, then sold at break even. then i bought it at the new candle. i was watching some guy suck in all the shares .15, he just kept buying and buying, after it wouldn't go down, i bought more at .22. believe it or not, the order was sent at 33 seconds and at 34 seconds my price was .30, phew talk about slippage.

BGU
















nice trend all day.

an okay day but i wish i would have recognized it was a trend day up and not a chop fest. again, i need to push these trades. currently for me, making $100 is just as bad as losing $200. i get no confidence from either. i need to get to $500/day. this is crazy.

4 comments:

  1. Dude - you were holding out on me man! You had a great day! That QLD trade is a beauty. And nice catch on BP, not sure how I missed that pop. Cool, even handed and profitable trading. Keep that up.

    ReplyDelete
  2. thanks man. good entries, pretty good exits. but i needed to trade more.

    ReplyDelete
  3. BTW - how did you see the BP? new highs?

    ReplyDelete
  4. yeah, i primarily the lightspeed h/l ticker plus the trade ideas filter http://www.trade-ideas.com/GettingStarted.html click configure with the "up 50 cents big volume spike" those are the settings i just added average true range and up only min .30 not .50 i'll put up a screen shot of the filter, it caught it at 1206

    ReplyDelete