Friday, October 1, 2010


Going to write up charts later. Down day but no problems here. I didn't catch enough trades to get the probabilities in my favor. It is nice to know that no matter what, there is always opportunity. For me, I think its a matter of not losing patience or getting bored waiting around for setups. When you first start trading, everything is mesmerizing. Even for the first year at least. All the pops and drops. Now, I am at the point of just stalking the best charts. And there are only a few a day. And then to sit around and wait for them to setup is boring. Music helps but maybe i need to start crocheting (sp?).


ACN: My first instinct was to short this chart. Then I started questioning myself, thinking back to yesterday's discussion with DTF. Maybe this was a directional change, double bottom (in the middle, i don't know if that counts) and this was just a small turn down in a larger, new uptrend. All those thoughts were based on the 5min. Because I have been trying to find the signal on the 15, but time it better using the 5. Example, the 15 shows me a signal to go short but the 5 is slightly bumping up. I would wait until the 5 rolls over as well. I don't know. After debating for about 5 minutes I said to myself this was crazy. Just pass it up. Then i said, no, just go with your original plan, the gut trade. As you can see, it went down and bit and then starting to swing back up. I reversed the position and got stopped out. If there had been more direction on the chart, I would have made money. But the range was so small, no money was to be made.


WLP: I was trying to compare this doji to the AGU doji. I traded neither. Although I was very close to pulling the trigger on the AGU. Here is the difference, WLP doji'd and the next bar went higher. AGU doji'd and the next bar went lower. Simple as that. Most likely, I would not have taken the long in WLP at that time. The signals are the 11:30 and the 2pm candle.



AGU: Boy, perfect doji. And in inverted hammerish candle on the 10 around 12:30. Why oh why would I not trade this. I know I saw it late, but the stop was within reason to at least take a 100 shares. I know the reason, preconceived notions that the stock wouldn't go far enough. Later on, I tried to take her long after a hammerish type candle. I got stopped but you need to realize when I got in, the 15 bar was solid green. I was ready for a run back to the top. Checking now, maybe I should have checked out the 5 min, lol. Wow, I'm a dope.


ANF: Beauty. Short around 12:30 and double up every little pop.


CNQ: I'd take it again no problem. Probabilities working themselves out.


CTSH: I thought she was ready to roll back over. The first exit is because I took on too much share size. Maybe looking back, there was no definite direction. In the morning, I'm going up, then I'm going down, now i consolidating.



INFY: Another beauty.


PLCE: Another beauty.

Q: choppy mess.


SPY: I'm surprised you can see the stair stepping better on SPY.


Overall, an okay day. Just missed opportunities. Traded pretty well. No regrets. Opportunity is there everyday. I just hope I don't lose my edge while I'm away. For sure, I'm going to have to check the markets everyday to find the good charts and put 'em up. That should keep me convinced that my edge is working.

2 comments:

  1. I need to remember to check the 15 for signals. ANF is screaming the trades. I managed to be early on all of them, and looking at the 5's I have a hard time seeing them now except the first and third. I guess the 4th is a valid scalp. But the 15 nails it.

    When are you leaving again?

    ReplyDelete