in the afternoon i closed out the sti for some money. also, traded srs as it was making new highs, pru as it was taking out lows and mos as it was taking out lows. made a little bit of change on these trades but not nearly what i could have. i was trying not to lose more on the day which is the wrong frame of mind. trading not to lose is no good.

wow, so far i am 4/4...losers. i got a little crazy today. i passed up on my first trade in osip (which of course worked). then i bought the next 3 that came my way and they all lost money. then i saw aye breaking lows and passed because i had three losers and was holding sti (which i still am) and what do you know, it rips to the downside. i don't think i can wait for pullbacks to the low or high. if i look at the charts correctly, they have been breaking highs/lows and pullback for the first hour or so. so, now when they break they should have more momentum. i don't think i should wait for a pullback. we will see. today was a good day because i honored my stops, and had 2-3 trades on at a time. the charts...

jwn

i bought as it was breaking highs. set my stop at .65 then moved it up to .73. i didn't like the way it was working out. they say the trade should work out almost immediately and i can see that.


amt shorted at 28.38. stopped out at 28.53. had the fibs from pdl to opening high. i was looking at the retracement into the 50%. had set my stop a few pennies above the 61.8 line. looking back, i believe i need to wait for confirmation from the candles. if i am shorting i need to wait for a candle to break a previous candle closing.







bought jah @ 18.69 at 10:44. stopped out at 18.47 at 10:45



shorted alv at 28.80. stopped out at 28.95. the stop came from a few candles back both had highs around .92 and .91. i set it a few pennies above at .95. looks like i should have given a little more wiggle room. but also i noticed that the candles did not close once below the low of the day until 11:35. the problem with the 11:35 bar is that it closes below the low of the day put is too far extended from my higher line. so, there is a trade off here. i have to figure out when to pull the trigger and when to let the trade stablize for a few minutes. if i was going to use volume, well the volume on the 11:35 candle was not very high, so i probably would not have gotten in there either.

ev

took ev long 14:48 @ 27.55....stop at .31 (there was a nr7 on the 30 min and 60 min with a low of .32). a little annoying today knowing i had some great trades lined up but didn't pull the trigger. then in the afternoon, i got the "hint" from a friend to just hit the buttons. got to play the probablities. have to trade the way i trade. when then break highs/lows got to go for it. 3 losing trades for .25 each, and one winning trade for a $1 = +25. maybe i will try having two trades on tomorrow. i think i am wasting my morning only being in one trade at a time. we only have a 2 1/2 hour window before lunch, and i don' t even touch anything before 10:30. so, i only have 1 1/2 hours to trade. i think i need to be in a couple stocks during that time. i have no problems taking my losses though. it feels good to stick to the plan. i think as long as i give them a .25, i shall be fine. although, i see it is great having a tight stop of .10-.15, that can save you alot of dough, but may keep you out of some trades.

tndm

wow! this set up amazing, i didn't even see these nr7's on the 15 min chart. can't believe i missed this one. explosion!

tndm,clf

also passed up my spot in TNDM. i was looking to get long after a break of the daily high around 25.09. i went to pick some up and saw a .10 spread and i didn't pull the trigger. right now i a not adept at throwing out bids and offers. i just buy and sell at the bids and offers. i was also checking out the candles and the next lowest candle was around 24.63. that would have been a huge stop loss for me. granted, it made alot of nr7's on the 15m chart, and i should have trusted those, but i seem to favor giving my positions .25 wiggle room. an alert for clf just popped up, lets see what happens.

alv,gil,urs

well, i was watching alv and urs. alv went right through the high and i was alerted immediately. unfortunately, i was memorized by urs as it collapsed straight through its 50%. if i really knew what i was doing, i would have bought the alv and shorted the urs. but i did neither. i am taking it slow and today it affected my profits. no big deal though, i am learning. also, i had my eye on gil but did nothing because it seemed to move very fast. i was looking to get long as it broke highs around 10:50. again, i didn't pull the trigger, which i should have and it ripped almost a dollar. later on i bought it as it retraced back to breakout point of 13.50. i tried buying some at 13.40 but got filled at 13.48 due to bad timing on my part. the 10:45 bar had a .28 low. i had a mental stop at .27 but probably should have put it below the .25 maybe around .23. i like to put my stops at strange numbers a few cents away from a key spot such as .25 .50 or whole dollar. i like to put sell stops @ .23 and buy stops at .27 for example. low and behold, i got stopped out at .25 and lost a few bucks. just tuition money.

fti

i went short fti as it retraced to the 50%. i am still trying to figure out why i choose .45 as my stop. anyway, got stopped out.