Geez, Can you please confirm if the latter one is matching with the Scottrade chart (the one you use for your entry)? Looks like chart quality is not stable before market closes and things are settled. Thanks, - Su
i used to watch big chart 4 or 5 years ago,back then they would take highest and lowest of time periods and avg them ,hi and lo's werent actual compared to live charts,i dont know if this changed. You can look at a daily comparison of there charts and charts provided by your broker
The first chart is what I have SU, If you look at the 2nd RIMM chart you can see gaps between some bars, this is a clear cut sign that the chart is not correct. Thanks again for posting the charts SU...makes explaining each trade so much easier!-G
5/15/09 : Total P/L -142.47 3 trades 1 win 2 losses *friday was a great lesson for beginners to always stay focused while trading. As I was trying to get alot of things done for my "other" job so I could leave by 2pm for a weekend trip, I entered RIMM short. I posted my entry,stop and tgt in the journal and proceeded to enter the WRONG target on my trading platform. I wanted a target of 73.07, but I was doing other things (not being focused) and entered a target of 73.17. I set an alarm at 73.25 to let me know as it got close. The first time it broke through and hit a low of 73.20 I moved my stop to b/e (73.67). RIMM rallied to 73.66 and turned back lower, this time breaking done to the 73.25 area and I manually followed it down as it broke through 73.17 I put a mental .04 trail stop on it. As it hit 73.13 I put my stop to 73.15 and as soon as it hit, I got out at 73.15. As I got out, thinking I had a nice trade, and pulled up my P/L something looked strange (+298)......I realized right then.....I put the wrong target in. By not taking the extra 5 seconds to make sure I entered everything correctly, I broke my own trading rules. Then to follow that up, at 1:00ish I knew I was getting short on time so I was looking to get into one more trade to make some money.......So, I "pushed" myself into FAS long, being much more aggressive than I would normally be, because I wanted to leave by 2pm. Once again, I made another common rookie mistake of "trading , just to trade"....I wasn't patient and it cost me $200. Lesson learned everyday.
Week ending 5/15/09: Total P/L + 3,073.00 24 trades 13 wins 10 losses 1 b/e YTD Totals: P/L + 22,702.25 136 wins 148 losses 17 b/e Win avg. 47.9% Ratio 1.89
Let's put it this way Jeg, We ran into a wedding party where ALL the bridesmaids were sinlge.... 4 guys...8 girls....just like I want it.. 2 to 1 ratio!
No Mike, Just took the wrong entry, but at least I hit my target before being stopped. Ugh....where did I let this journal go? OK...back to trading!
Ok anyone (who still may be) following this journal..... I have promised my 4 patterns to be posted in here: I feel I have enough visual charts to post the patterns. The ones who really get the most from this journal (you know who you are), would you guys/gals like me to post it right here in the journal or open up a new thread for that? Please let me know and I will post them tomorrow, either in here or a new thread..... I think we all know by now I don't mind flamers...No jeg, not THAT kind of flamer!.....So ,I do not mind at all posting my trade patterns elsewhere, where it may be easier to access them on a regular basis.....For the ones who use this journal as an educational tool, let me know what is best for you. -G