So, the past few days have been uneventful for me with day trading. Yesterday I wasn't around much while the market was open so I managed to take 2 trades and was up $0.04 cents. Tuesday, I was up $0.16 cents on the day. Nothing special. My real money is being made with my swing trades!
Today, PCX gapped up!!! Finally!!! I had a GTC (good until cancelled) limit order to sell half of my position at $5.90, and I was filled at $6.28!!! Thats +2.46 for a profit of $246. Then, I had added to my position in KFT earlier this week buying 50 shares at $22.70, and another 25 shares at $22.40. My average price is at $22.77 with 175 shares. I am seeing some nice gains today. Rack has also pushed back up but I haven't added to this position. Finally, my position in HW has come against me slightly (no more than 10 cents). Looking back I should have taken profits when I was up just over a point, and then gotten back in on the pullback, but things are setting up nicely for another push up. I plan to add to my position when I see the stochastics cross over to the up side.
With that said, I am up 30% on my initial investment, and since I have been generating profit, I have added more money to my swing trading account.
As for the market, I feel that we are going to see 900 very soon on the S&P cash. Then we'll come down and fill the gap from todays monster gap up of around 30 points! Anyway, that's all I have for now! Good luck with your trading!
Thursday, April 30, 2009
Monday, April 27, 2009
Day Trading Post #37
Today, there were some nice moves in the AM and unfortunately, I missed them. I traded SPG again just because I've been trading SPG a lot lately. Anyway, I took it long when the stochastics on the 15m chart crossed over. The ATR was 72 cents at the time of my entry, so my risk was approximately $1.05 below my entry. I got stopped out for a loss of $1.10. Time to go out and enjoy the weather!
Friday, April 24, 2009
Day Trading Post #36
Today was interesting with the gap up in the morning. Based on the stochastics, it looked to me like everything was overbought, so I thought that even though the market was strong, we would see a minor sell off initially. This did occur, and I took SRS long. Unfortunately, as quickly as I was in the money, I was out of the money taking a hit of $0.41 cents. Not terrible. After I noticed that the market was strong, I waited for the 9:50am reversal and took SPG long off the 5m chart and made a point very quickly! Afterwards, I took 2 small scalps for a total of $0.12 cents, and I am calling it a day for now. Gross profits for the day = $0.73! Gross profits for the week = -$3.50 :-(
This is the first time I have ended the week with a loss in 12 weeks. Still not too shabby though. All I know is that any trades I take in SKF will be on paper and not live!
This is the first time I have ended the week with a loss in 12 weeks. Still not too shabby though. All I know is that any trades I take in SKF will be on paper and not live!
Thursday, April 23, 2009
Day Trading Post #35
Ugh!!! That's all I have to say. First of all, the volume seemed to be very low today which was one indicator not to trade much today. Second of all, after I took my first 3 trades of the day where I was up over 50 cents on each only to have them come back down to my entries for each position, I took a total of 52 cents profit. Then, I got burned by the market bad in SPG and then SKF. SPG was thin today and it seemed to me like there was some manipulation going on because there was such light volume. I was trading off the 15 minute chart, and each time I'd catch a move for 50 cents to a point, it would come all the way down to my entry and stop me out for profits of 5, 10, or 20 cents. That got on my nerves a little, and once I believed SPG was going to take off, it reversed on me and I took a 92 cent hit. So, being down 40 cents, I decided to see if I could make it back on SKF pre-imbalances, which was working at first but then came against me horribly! SKF setup nicely for a long position on the 15m chart with the stochastics crossing to the upside. The market was turning over to the downside on the E-minis, so I took it long. Then after a good 20-30 minutes of shaking around from being up 10 cents or down 80 cents, SKF fell apart to and took me with it. I took a hit for $1.66 per share ending the day down $2.06. OUCH!!! That's two days in a row SKF has hurt me for over $1.50... I'm going to hold off from trading him again.
Overall, my strategy does work, but the problem is I need to be able to trade more shares. 1 position with 100 shares is fine, but it would be nice to be able to add to my position on a pullback using fibbonacci retracement points as entries for adding to my position. That way, when I am up 50, 60, 70, 0r even 80 cents, I can scale out part of my position for profit and leave part of my position in as a runner. Unfortunately, the guy who runs the group for whom I trade under doesn't understand this concept and is not accustomed to my style of trading since he is a 'Micro-scalp Trader.' Regardless of my gripes, today wasn't terrible because you learn from your mistakes. I followed my rules but have realized that I need to add a new one: On days when the volume is light, settle for smaller scalps rather than larger trends.
Despite my shortcomings with my day trades today, the market rally at the close helped out my swing trades immensly. Everything pulled back a lot today, but bounced back somewhat at the close. HW is pulling back, but still holding strong in my opinion. PCX looks good! RACK is holding up nicely. Finally, Kraft (KFT) is coming against me at the moment but it is nowhere near my stop. We'll see how the market performs tommorow. The game plan right now is to paper trade a bit tommorow to get back in the flow of things since I had 2 down days in a row with my day trading (thanks to me trading SKF... OUCH!)
With that said, I may have gotten burned by the markets today, but if you really want to feel the heat, I'd recommend you try "Nuckin' Futs!" I went to a place in town today called "So Dam Hot!" and had some wings and chilli with Nuckin' Futs Hot Sauce and wow! Let's just say that made me sweat more than my trades in SKF the past two days!
Overall, my strategy does work, but the problem is I need to be able to trade more shares. 1 position with 100 shares is fine, but it would be nice to be able to add to my position on a pullback using fibbonacci retracement points as entries for adding to my position. That way, when I am up 50, 60, 70, 0r even 80 cents, I can scale out part of my position for profit and leave part of my position in as a runner. Unfortunately, the guy who runs the group for whom I trade under doesn't understand this concept and is not accustomed to my style of trading since he is a 'Micro-scalp Trader.' Regardless of my gripes, today wasn't terrible because you learn from your mistakes. I followed my rules but have realized that I need to add a new one: On days when the volume is light, settle for smaller scalps rather than larger trends.
Despite my shortcomings with my day trades today, the market rally at the close helped out my swing trades immensly. Everything pulled back a lot today, but bounced back somewhat at the close. HW is pulling back, but still holding strong in my opinion. PCX looks good! RACK is holding up nicely. Finally, Kraft (KFT) is coming against me at the moment but it is nowhere near my stop. We'll see how the market performs tommorow. The game plan right now is to paper trade a bit tommorow to get back in the flow of things since I had 2 down days in a row with my day trading (thanks to me trading SKF... OUCH!)
With that said, I may have gotten burned by the markets today, but if you really want to feel the heat, I'd recommend you try "Nuckin' Futs!" I went to a place in town today called "So Dam Hot!" and had some wings and chilli with Nuckin' Futs Hot Sauce and wow! Let's just say that made me sweat more than my trades in SKF the past two days!
Wednesday, April 22, 2009
Day Trading Post #34
What a start to a nice day in the markets... I got my ass kicked by SKF. I decided today that I would see if there was a trade in SKF since it came down into my price range and I got burned badly on it! I have never traded it before and as a result, I don't have a great feel for it. Unfortunately I also broke my rule now looking back at the trade I took in it! The 15 minute chart showed the stochastics turning over towards the downside, and what did I do? I took it long ( originally I took it short but I got out because I thought it was going long.) When I was long, I was up a point on it pretty fast, but as quickly as it went up, it came right back down. Too bad I didnt hold it short because if I did, I'd be up over 3 points, but nope... instead I am down $2.80 per share for a whopping -$280. Interestingly enough, my rule still stands true for risking 1.5x the ATR. I got stopped out for $280, and some might think that that is a big hit to take but when considering that SKF used to be over $200 bucks and has moved 45 points in a day in the past, $2.80 really isnt that much. Regardless, the ATR on the 15m chart which is what I was trading off of was $1.84 making my stop $2.74 below my entry. I got stopped out, and good thing I did because as of now, it's still trending down.
This only further teaches me that I should NEVER go against the stochastics on the 15m chart. The trend is your friend!!!! Chart of my trade is below:
My swing trades are looking great though!
This only further teaches me that I should NEVER go against the stochastics on the 15m chart. The trend is your friend!!!! Chart of my trade is below:
My swing trades are looking great though!
Tuesday, April 21, 2009
Day Trading Post #33
Today was a great day for day trades. The market sold of early, but then bounced back and starting melting up at around 9:50am. I took a trade in BXP and caught just over 2 points on it!!! Unfortunately I got shaken out after being up over 3 points that I locked in profits of $2.10 per share when BXP looked as if it was going to reverse. Too bad I did get shaken out because if I would have held and/or re-entered, I would have made 5 points on it today!!! Oh well, never look back! After I saw BXP continuing on its way up, I took SPG long and I was late on my entry. I should have waited but got a little compulsive and took it long just in time for it to pull back. I ended up taking a hit for $1.09 cents when I limited out after it hit my risk of $1.12 cents. Then, I re-entered when things started to push up and made back $0.72 cents. Overall I was up $1.73 cents gross off of 600 shares. My efficiency ratio is sky high and I'm loving it! This was a nice comeback afterday yesterday I got stopped out in SPG for a point. Overall I'm up on the week for day trades $0.73 cents gross.
Swing trades are still looking good, and after a close like we had today, I am still bullish. We're going to see 900 on the S&P soon enough. PCX, HW, and RACK are all holding their own and showing good relative strength while the market is pulling back. Also, it's nice to see that we filled the gap at around 825 on the S&P from last weeks monster gap up! Even more of a reason why I am bullish. The market needed this pullback, and now we can continue on our way up! Ahhh!!! Before I forget, I took my biggest position yet in my swing trading account. It's not really a big position but in regards to the monetary value of the position, it accounts for just under half the value of my account. Anyway, the trade is in Kraft... Took it long yesterday 100 shares at $22.90, and looking for it to fill the gap at around $26-27 bucks. That should be a nice return. All in all, things look good! Check out the KFT chart for some more notes:
Here are my day trades today... 3 trades total for 600 shares (that's like $4.50 commission... not bad!)
BXP Trade of the Day!
SPG Trades:
Swing trades are still looking good, and after a close like we had today, I am still bullish. We're going to see 900 on the S&P soon enough. PCX, HW, and RACK are all holding their own and showing good relative strength while the market is pulling back. Also, it's nice to see that we filled the gap at around 825 on the S&P from last weeks monster gap up! Even more of a reason why I am bullish. The market needed this pullback, and now we can continue on our way up! Ahhh!!! Before I forget, I took my biggest position yet in my swing trading account. It's not really a big position but in regards to the monetary value of the position, it accounts for just under half the value of my account. Anyway, the trade is in Kraft... Took it long yesterday 100 shares at $22.90, and looking for it to fill the gap at around $26-27 bucks. That should be a nice return. All in all, things look good! Check out the KFT chart for some more notes:
Here are my day trades today... 3 trades total for 600 shares (that's like $4.50 commission... not bad!)
BXP Trade of the Day!
SPG Trades:
Saturday, April 18, 2009
Day Trading Post #32
What a week! Day trades went well! Swing trades went well! The market was up for the 6th week in a row! Everything has been going well!!!
My last post was on Wednesday, April 15th (Income Tax Day!!!), and I my day trades were kind of off track. From what I remember, I took SPG long on Wednesday and got stopped out for $0.65 cents. No big deal... I was just eating into my profits from Monday, but oh well. I made up for it Thursday and Friday. Thursday, talk about a short squeeze! SPG just went up and didn't stop all day. I figured I had missed the move on Thursday in the morning so I took VNO, another riet, since it was lagging behind SPG. Unfortunately I am not used to trading this stock and it likes to move and gap 5-15 cents at a time which kept me on edge for this trade. I took a $0.37 cent hit on it and then waited for an entry in SPG. Fortunately I caught a few entries and started taking points at a time on SPG as it screamed upwards all day! I managed to take over three points on SPG before Blackwood got all "blackwoody" on me! At the clost I was up $297 off of 9 trades and then Blackwood reversed my position on me instead of closing me out causing me to take a hit for $0.44 cents once I realized I was in a position. So, I ended the day up $2.53 on 100 share lots for 10 trades. Total profits of $253. Friday was another good day, and yes, I traded SPG again. I took SPG long based off the 15m chart before 10:30AM and held through one hell of a squeeze! SPG came against me $0.78 cents, and I held through it (I wish I could have added to my position as it popped down quickly, but thats just one of my gripes about my limitations on my day trading account). Anyway, now that SPG is getting back up over the $50.00 mark, its really starting to move. So, $0.78 cents wasn't that bad of a squeeze considering at the time it had an ATR (Average True Range) of $0.66 cents! Anyway, as it came back, I really had no reason for getting out other than the fact that I wanted to lock in profit, so I threw out a limit order for a profit of $0.50 cents and called it a day. Too bad I didn't cancel that order in time because right after I got filled, SPG pushed up for another 3 points!!!! As I've been telling myself, never look back! A profitable trade is a good trade and that's all there is to it.
Interestingly enough, with my day trades, there is no other reason for me trading SPG other than the fact that I have been making money off it for the past two weeks! On top of that, I have been catching moves for points in SPG, hence I have been trading it a lot lately.
Swing trades are going phenominal! RACK is at $5.00, and I really wish I would have added to this position. It may be too late, we'll see, but maybe I'll add to this on a pullback? With PCX, I hate to say this, but I'm really starting to think that I caught this at the bottom. It's pushing up slowly, and I am confident we'll see $5.50-$6.00 soon enough. I'm starting to think that I'll just scale out here because if I did in fact catch this at the bottom, why not hold on to it long term? Finally, I have INSP and HW. INSP pushed up $0.70 cents and I took it off the table for a profit of $0.72 cents! Not bad! HW looks good on the daily chart and I am also confident that we'll see this in the $4.00 range soon enough!
That's my week in a nutshell! I am still bullish going into next week only because we ended the week above 850 on the S&P and haven't hit 900 yet. There is resistance in the 870 range to break through which I think will happen this upcoming week. 900 here we come!!!
That's all for now!
My last post was on Wednesday, April 15th (Income Tax Day!!!), and I my day trades were kind of off track. From what I remember, I took SPG long on Wednesday and got stopped out for $0.65 cents. No big deal... I was just eating into my profits from Monday, but oh well. I made up for it Thursday and Friday. Thursday, talk about a short squeeze! SPG just went up and didn't stop all day. I figured I had missed the move on Thursday in the morning so I took VNO, another riet, since it was lagging behind SPG. Unfortunately I am not used to trading this stock and it likes to move and gap 5-15 cents at a time which kept me on edge for this trade. I took a $0.37 cent hit on it and then waited for an entry in SPG. Fortunately I caught a few entries and started taking points at a time on SPG as it screamed upwards all day! I managed to take over three points on SPG before Blackwood got all "blackwoody" on me! At the clost I was up $297 off of 9 trades and then Blackwood reversed my position on me instead of closing me out causing me to take a hit for $0.44 cents once I realized I was in a position. So, I ended the day up $2.53 on 100 share lots for 10 trades. Total profits of $253. Friday was another good day, and yes, I traded SPG again. I took SPG long based off the 15m chart before 10:30AM and held through one hell of a squeeze! SPG came against me $0.78 cents, and I held through it (I wish I could have added to my position as it popped down quickly, but thats just one of my gripes about my limitations on my day trading account). Anyway, now that SPG is getting back up over the $50.00 mark, its really starting to move. So, $0.78 cents wasn't that bad of a squeeze considering at the time it had an ATR (Average True Range) of $0.66 cents! Anyway, as it came back, I really had no reason for getting out other than the fact that I wanted to lock in profit, so I threw out a limit order for a profit of $0.50 cents and called it a day. Too bad I didn't cancel that order in time because right after I got filled, SPG pushed up for another 3 points!!!! As I've been telling myself, never look back! A profitable trade is a good trade and that's all there is to it.
Interestingly enough, with my day trades, there is no other reason for me trading SPG other than the fact that I have been making money off it for the past two weeks! On top of that, I have been catching moves for points in SPG, hence I have been trading it a lot lately.
Swing trades are going phenominal! RACK is at $5.00, and I really wish I would have added to this position. It may be too late, we'll see, but maybe I'll add to this on a pullback? With PCX, I hate to say this, but I'm really starting to think that I caught this at the bottom. It's pushing up slowly, and I am confident we'll see $5.50-$6.00 soon enough. I'm starting to think that I'll just scale out here because if I did in fact catch this at the bottom, why not hold on to it long term? Finally, I have INSP and HW. INSP pushed up $0.70 cents and I took it off the table for a profit of $0.72 cents! Not bad! HW looks good on the daily chart and I am also confident that we'll see this in the $4.00 range soon enough!
That's my week in a nutshell! I am still bullish going into next week only because we ended the week above 850 on the S&P and haven't hit 900 yet. There is resistance in the 870 range to break through which I think will happen this upcoming week. 900 here we come!!!
That's all for now!
Wednesday, April 15, 2009
Day Trading Post #31
Mid afternoon yesterday, I had a price alert go off for INSP on my watchlist. The last time I had a price alert go off, it was in TXT and instead of taking it, I watched TXT thinking I had missed the move. My alert in TXT was triggered when TXT broke $7.90 and I thought I was chasing because it exploded and ran up to $8.30 once I realized it. Then, 2 to 3 days later, it gapped up to $15.00!!! Yea, so instead of letting these things get away from me, I decided that I was going to take INSP since I had a price alert setup on it. It was triggered at $6.00, and I am risking approximately 50 cents on it. Price target is around $7.00 to $7.50. As of now I have 100 shares, but will add to the position if it looks like a winner!
The open should be interesting today. We had a nice pullback yesterday, and I think that we'll see the market pop, but then and again you never know!
The open should be interesting today. We had a nice pullback yesterday, and I think that we'll see the market pop, but then and again you never know!
Tuesday, April 14, 2009
Day Trading Post #30
Well, today was going well for day trades until I watched my profits run up, and then fall all the way back down to my entry and below it. Ouch! I reviewed my trade and my conclusions... Yesterday, I caught a big move in SPG. Today, it looked like I was catching another big move like yesterday, so instead of locking in profits of 80 cents or even 50 cents, I let it come all the way down against me!!! Why???? Maybe greed, maybe stubbornness? I believed it would come back, and instead it hit my stop, and what I should have been doing is moving my stop up as I was in the money. Oops! Lesson learned. In the end, I took two trades in SPG. The first one was really good until I let it fall apart. The second trade was a reveng sort of trade where I got back in on it long believing it would pop, and it did, but only for a minute or two, and then came against me. Locked out of my day trading account. But it's fine because I am still net positive for the week $0.98 cents. Here is the chart for SPG below (15m chart):
Swing trades look great, and PCX broke the $5.00 mark today. It pulled back under $5.00 but things look good. We'll see $5.50-6.00 in no time! HW is coming back nicely, and RACK is holding up too! Overall, its a good week so far, and it's only Tuesday!
That's all for now!
Swing trades look great, and PCX broke the $5.00 mark today. It pulled back under $5.00 but things look good. We'll see $5.50-6.00 in no time! HW is coming back nicely, and RACK is holding up too! Overall, its a good week so far, and it's only Tuesday!
That's all for now!
Monday, April 13, 2009
Day Trading Post #29
So, my predictions were right from the weekend! We had a sell off in the AM, and then recovered at the close. The market was still down at the close, but we did show strength which keeps me bullish! Also, my swing trades are going really well now. PCX finally popped up and is just under $5.00. I think we'll see this one run up to $5.50-6.00 in no time. I've been in PCX since late February, and its nice to finally see others talking about it. I am hearing people on Daytradingradio.com talking about PCX which also gives me more confidence in this trade. In the mean time, HW pulled back, but still looks decent to me. Rack also pulled back but nothing that hurts too much.
Day trading was SLOW today. I took a trade in ABT looking for a big move, and was up 40 cents at one point, only to have it come back down to my entry. I took 4 cents profit on this trade, and then 2 cents profit on a trade in FAS that I took just out of boredom. Then at 12:58, I took a trade in SPG and held until 3:51pm. I made $1.55 on this trade and then took SRS long when SPG began to sell off. Overall, I made $1.82 profit trading 100 shares at a time for $182. My trade in SPG is below:
I am looking forward to seeing 875 on the S&P this week!
Day trading was SLOW today. I took a trade in ABT looking for a big move, and was up 40 cents at one point, only to have it come back down to my entry. I took 4 cents profit on this trade, and then 2 cents profit on a trade in FAS that I took just out of boredom. Then at 12:58, I took a trade in SPG and held until 3:51pm. I made $1.55 on this trade and then took SRS long when SPG began to sell off. Overall, I made $1.82 profit trading 100 shares at a time for $182. My trade in SPG is below:
I am looking forward to seeing 875 on the S&P this week!
Saturday, April 11, 2009
Day Trading Post #28
The week overall went well for swing trades and day trades! First, about the day trades:
Monday, I was up just over $0.80 cents for a gross total of $80+ off of 4-6 trades total. Tuesday, I watched the market in the AM and was out for the afternoon, so I didn't take a trade. The market was choppy anyway. Wednesday, I got burned off the imbalances, but I did manage to take a point in ERY so I was up initially. I ended the day down a point and a half because I took SRS long when it looked as if the market was going to sell off. I was wrong and got out when SRS started ripping down against me. Then, Thursday was a great day! I took just under $0.30 cents profit in BIG, and then proceeded to tear it up in SPG taking points at a time in it!!! I caught it at $40.50 when it broke out and rode it up for a point, got out, and got back in for more profit later on! Overall I am slightly up for the week, but I feel it was a great week because my parameters for getting into trades are proving to be profitable!
My swing trades are going great! RACK is moving up, PCX is looking great and I am looking to take profits around $5.50 now. Finally, HW is starting to come back, and even though the stochastics have turned over and trended down the past few days, HW is holding up. This is a good sign and I think HW will hit my profit target around $4.40 soon!
Here is a pretty good look at the market overall:
I personally feel that the market will pop and that we can see a break of 900 soon. The inverted head and shoulders that formed on the S&P Cash Daily chart has a measured move that goes up to approximately 1,000 if I measured correctly. I think that will be tough to achieve, but we did just break through some major resistance at 850 last Thursday 4/9/09. This occurred too after a monster gap up in the market. Therefore for the upcoming week, I think we may see the market sell off and/or gap down Monday, but overall, the short term trend is still bullish. I believe that we have a chance to push past 850 and break our way through the next major level of resistance at 875 on the S&P Cash. If we can do this, we'll definitely see 900. This is my interpretation as of now, and I am curious to see how everything will play out. On the other hand I could be totally wrong and we could see the market sell off to close the huge gap up we made on 4/9/09.
Time will tell. In the mean time, I am still pleased with my current performance in the markets and hope to continue with some more successful trades!
Monday, I was up just over $0.80 cents for a gross total of $80+ off of 4-6 trades total. Tuesday, I watched the market in the AM and was out for the afternoon, so I didn't take a trade. The market was choppy anyway. Wednesday, I got burned off the imbalances, but I did manage to take a point in ERY so I was up initially. I ended the day down a point and a half because I took SRS long when it looked as if the market was going to sell off. I was wrong and got out when SRS started ripping down against me. Then, Thursday was a great day! I took just under $0.30 cents profit in BIG, and then proceeded to tear it up in SPG taking points at a time in it!!! I caught it at $40.50 when it broke out and rode it up for a point, got out, and got back in for more profit later on! Overall I am slightly up for the week, but I feel it was a great week because my parameters for getting into trades are proving to be profitable!
My swing trades are going great! RACK is moving up, PCX is looking great and I am looking to take profits around $5.50 now. Finally, HW is starting to come back, and even though the stochastics have turned over and trended down the past few days, HW is holding up. This is a good sign and I think HW will hit my profit target around $4.40 soon!
Here is a pretty good look at the market overall:
I personally feel that the market will pop and that we can see a break of 900 soon. The inverted head and shoulders that formed on the S&P Cash Daily chart has a measured move that goes up to approximately 1,000 if I measured correctly. I think that will be tough to achieve, but we did just break through some major resistance at 850 last Thursday 4/9/09. This occurred too after a monster gap up in the market. Therefore for the upcoming week, I think we may see the market sell off and/or gap down Monday, but overall, the short term trend is still bullish. I believe that we have a chance to push past 850 and break our way through the next major level of resistance at 875 on the S&P Cash. If we can do this, we'll definitely see 900. This is my interpretation as of now, and I am curious to see how everything will play out. On the other hand I could be totally wrong and we could see the market sell off to close the huge gap up we made on 4/9/09.
Time will tell. In the mean time, I am still pleased with my current performance in the markets and hope to continue with some more successful trades!
Monday, April 6, 2009
Day Trading Post #27
Today was pretty crappy until the close for day trades... I was getting chopped up in the morning and up only $0.03 cents off of the three trades I took. The close was nice though. I checked out the REITS and saw that around 3:15, they all started ripping up. I missed that move, (caught one scalp for $0.15 cents) but then took SRS long when I saw the REITS turning over. I ended the day up $0.88 cents off of 5 trades total for the day!
For my swing trades, HW and PCX are showing good strength and holding above the $4 mark. Things look good and I believe they will pop up big soon! Also, I shadowed Johnny aka Daytrading Rockstar, host of the Daytrading Radio Show on a trade with RACK. Embedded stochastics look nice, and its also a gap play. The stock barely moved all day, and then after the close, it gapped up 40 cents! I only took 100 shares because I wasn't sure what to expect, but things are going well. I will be paying attention to this stock more closely!
To date, I am maintaining a gain of 15-17% on my personal account! Pretty good in my estimation!
More to come later this week! See you in the markets!
For my swing trades, HW and PCX are showing good strength and holding above the $4 mark. Things look good and I believe they will pop up big soon! Also, I shadowed Johnny aka Daytrading Rockstar, host of the Daytrading Radio Show on a trade with RACK. Embedded stochastics look nice, and its also a gap play. The stock barely moved all day, and then after the close, it gapped up 40 cents! I only took 100 shares because I wasn't sure what to expect, but things are going well. I will be paying attention to this stock more closely!
To date, I am maintaining a gain of 15-17% on my personal account! Pretty good in my estimation!
More to come later this week! See you in the markets!
Thursday, April 2, 2009
Day Trading Post #26
I haven't posted much this week because I have been busy with other business ventures, but i have been trading and paying attention to the market.
Here is my performance this week:
Monday: 2 trades, $0.32 profit for a gross total of $32
Tuesday: 1 trade, $1.20 profit for a gross total of $120
Wednesday: 2 trades, -$1.57 loss for a gross total of -$157
Thursday: 2 trades, $1.10 profit for a gross total of $110
Friday: 3 trades, -$0.45 loss for a gross total of -$45
Monday, Tuesday, and Today have been good days. Monday was slow and I barely traded because the market was moving sideways from my perspective. Tuesday was a great trade in JBHT which I had on my watchlist from DaytradingRadio. On Monday, JBHT tanked hard, so Tuesday I checked it out anticipating a retracement and caught $1.20 on it. I took the trade at 10amish and held until 2pmish. It made my day very easy. Today, I took ATVI (activision) long on a volume alert and grabed 20 cents off of it. Then noticing that the technology sector was doing well (seemed to be leading the market today from what I saw), I checked out RIMM and took it long. The 3m, 5m, 15m, and E-Minis charts and stochastics were in my favor so I held for a long time. Once I saw hesitation at the $49.00 mark, I took profits only to watch it melt up another 40 cents. Oh well! I kind of wish I took RIMM in my swing trading account because after the close RIMM released earning I believe and it shot up $7.00!!!
Wednesday was my only down day, and I had taken a trade in SWN, was up $0.90 cents in it, and then got caught by the oil number and watched as SWN pulled back to my entry where I got out for a profit of $0.02 cents. I guess you can say I was like a deer in the headlights when it came down that quickly on me. So, I decided to take ERY long when I saw the oil and nat gas sector reversing. Once I went long, the oil stocks retraced and continued on their way up, and I was immediatly out of the money over a point in ERY. Friday, I traded ABT anticipating a move up as the market was popping and got stopped out twice. ABT just fell apart. I took another trade for a small loss and stopped trading for the rest of the day.
My swing trades are coming back after gapping down this Monday. HW and PCX didn't move much today, but are setting up for a push up tommorow (I think). I am continuing to hold and I am still in the money on these two trades. Things look good!
Here is my performance this week:
Monday: 2 trades, $0.32 profit for a gross total of $32
Tuesday: 1 trade, $1.20 profit for a gross total of $120
Wednesday: 2 trades, -$1.57 loss for a gross total of -$157
Thursday: 2 trades, $1.10 profit for a gross total of $110
Friday: 3 trades, -$0.45 loss for a gross total of -$45
Monday, Tuesday, and Today have been good days. Monday was slow and I barely traded because the market was moving sideways from my perspective. Tuesday was a great trade in JBHT which I had on my watchlist from DaytradingRadio. On Monday, JBHT tanked hard, so Tuesday I checked it out anticipating a retracement and caught $1.20 on it. I took the trade at 10amish and held until 2pmish. It made my day very easy. Today, I took ATVI (activision) long on a volume alert and grabed 20 cents off of it. Then noticing that the technology sector was doing well (seemed to be leading the market today from what I saw), I checked out RIMM and took it long. The 3m, 5m, 15m, and E-Minis charts and stochastics were in my favor so I held for a long time. Once I saw hesitation at the $49.00 mark, I took profits only to watch it melt up another 40 cents. Oh well! I kind of wish I took RIMM in my swing trading account because after the close RIMM released earning I believe and it shot up $7.00!!!
Wednesday was my only down day, and I had taken a trade in SWN, was up $0.90 cents in it, and then got caught by the oil number and watched as SWN pulled back to my entry where I got out for a profit of $0.02 cents. I guess you can say I was like a deer in the headlights when it came down that quickly on me. So, I decided to take ERY long when I saw the oil and nat gas sector reversing. Once I went long, the oil stocks retraced and continued on their way up, and I was immediatly out of the money over a point in ERY. Friday, I traded ABT anticipating a move up as the market was popping and got stopped out twice. ABT just fell apart. I took another trade for a small loss and stopped trading for the rest of the day.
My swing trades are coming back after gapping down this Monday. HW and PCX didn't move much today, but are setting up for a push up tommorow (I think). I am continuing to hold and I am still in the money on these two trades. Things look good!
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