blogger draft is all wacked up tonight. i have a bunch of work to do tonight, so not really going to explain.

i was surprised by the action here. market was going down but the VXX wasn't moving too much. i closed it because AAPL and the Q's were moving up. I thought AAPL was going to pull the q's to new highs.

double top, wish i saw it real time

i was adding into the double top. i was short the market on the earlier move via SDS. then i covered, went long QLD as AAPL was hitting the highs. I thought market was going to break highs but it didn't. I guess I needed to flip the switch again and go short. I don't think it shows here  but I believe the market was right on the 20 EMA as well, but that may be another stock I was trading, i forget.

only covered because AAPL was breaking highs. I guess I need to leave these stops on no matter what happens. I can't close due to momo unless I am really in the money. Stop was never threatened.

i highlighted the correct area i believe for the exit. even though it is relatively the same price, it is more important to hold until the market shows me to exit. but i had to take some profit to keep my PnL up.

I don't know what i need to do. DTF said "how many times does a man need to make the same mistake". i don't know the answer to that riddle, but i do know i constantly break one rule "don't exit until you either get stopped out, or you get an exit signal from a candle". it is so easy to hear it, and write it down, and repeat it to myself over and over, but man its hard to implement. lots of money left on the table today.

The problem for me, i was really thinking long, long, long. i think i had 300 shares of qld long near the top. and then it just turns around, and i can't even recognize the double top. unreal. i am going to keep a look out for those.  and break my hands in between trades. i have to have a punishment for breaking the stop/exit rule. maybe a hammer to the groin area, i don't know.

good luck tomorrow.

nice pop and drop, tough day for me to read

 hammer on the 5, i am pretty sure it hammered on another time frame otherwise i wouldn't have taken it

there we go, a few hammer and doji'ish looking candle. i must say, i wanted to hit out once it started retracing but i didn't. it was just annoying me that i waited all day, and as soon as i put the trade on it was down .10. well once it turnaround, i bought some more. then when it went through the .14 level i bought some more. no real reason to sell it. i was just losing my mind saying, i can't let .25 disappear and we all know it was a choppy day. but i can say, i wanted to hit out after it went +.15 but i held, and kept holding. so i have to comend myself on that progress. i kept saying what till the chart tells you to get out. its freakin hard to hold!

dtf brought this chart to my attention

CAL, missed this one

tough read

market turning over after pop, i didn't want to risk any money, so no trade

phew. only one trade today. it is hard waiting for confirmation on the higher time frames. i did pass a nice signal on the QLD because it was only the 5 min chart, no confirm. for now on i decided that if the market is flying and moving fast, it will be okay to trade the 5 min bar for a reversal and not wait for confirmation.

there were some other trades out there but they were hammers either on the 10 or 15, which makes the stop really too large for me. i guess i am always just searching out the dojis so i can have a nice tight stop.

very difficult morning to read. i am glad i waited until i saw something. glad i watched the 10 and 15 and they slowed down the chop. i did try to catch PCAR and RSH as they were running. I am okay with playing those momo stocks when they are moving, that will just have to be 10% of the trading plan. i should have kept an eye on RSH because after the pullback it had a nice move up again. i will load the chart up later.

have a nice weekend everybody.

tna

dtf, you right, harder to read this TNA. i hope it just didn't work today and it won't work for the future. only marty mcfly knows for sure.

multi time frame analysis

okay, so what i did here was start with the 15 min chart and circle the areas i saw of interest. then i switched to the 10 min view, which still keeps the circled areas from the 15 min chart. then i circled the interesting areas on the 10 min chart, and switched to the 5 minute view and circled those interesting areas. then i went back to the 15 which showed the circled areas from the 5, 10, and 15 min charts all on one chart. damn, is that confusing. (it doesn't look like i did this with X. i just kept the circled areas on the 15 min chart and transferred them to the 10 and 5, without marking the new areas)

i have to review these after i put up this post but from what i can see, the 15 min charts missed some entries but slowed down the misreadings from the 5 min chart. basically, i wouldn't have gotten chopped around so much.

edit: i reviewed the charts and i think this is bad ass. basically, everything tomorrow will need confimation, a hammer on the 5 will need a hammer or doji on the 10 or 15. vice versa. 10 min will have to be confirmed by either the 5 or 15 and the 15 maybe have to be confirmed by the 5 or 10 but it supercedes everythinng. i'm pumped now. i don't know how well i will be able to institute this real time, but i willl try damn hard. 

why was i fighting this hammer by shorting for the next 1/2? i didn't want to believe it. totally opposite of my real trading plan which is take every candle as something new.

explanations are here

hammer, chickened out

battling this one out, that is one crazy mover i will not be trading again. the only reason i went after it was i didn't have the ability to short QLD at that point. i have to email lightspeed first every morning for the stocks i want to short.

this was going to be my get out of negative trade. i took 300 shares short. it had a beautiful H-pattern that jim and jaime talk about at  wallstwarrior and guess what, big boy me chickened out, i was freakin out so bad i didn't even give it to the top of the candle at .10. i was just losing my mind today

well i don't think there is much to say since i have said everything my brain is thinking on poor dtf's comment blog, sorry you had to deal with my ramblings tonight.

i'm am going to try to focus on the 10 and 15 min charts tomorrow to slow my world down.