good job geez and puddles. This is by far the most helpful journal/thread on ET I have ever read. I am learning and mimicking some of your plays. Just trying to master the setups and market direction. Still using the $20 risks to get the hang of it. Do you guys keep a short list of 10,20,30 stocks that you keep an eye on or do you scan each day? I think you answered this earlier in the thread but I couldnt find it in the thread. Thanks again for your help, I hope you made out ok today with the market tanking.
geez and i both scan daily charts at night and create lists of long/short/extended plays for the next day.. before the open we usually discuss these as well as another other important news items for the day (last nights episode of gossip girl, glee, dancing with the stars, etc.) i believe we both have a list of stocks we watch every day along with the ones from our nightly scan.
Couldn't have said it better myself.. Only thing you forgot was our Hills episodes and facebooking! * Puddles found 2 perfect trades today but we both had chart program problems. He called out COST long on a rel. strength higher low and ESRX on the same thing...both were textbook.
out +0.24 geez yelling at me to add at 11:25 lower high, i decided to let everything stand so i can even up my day at 1-1.. just to be clear, i'm not even on the day $ wise as I size all trades to have the same loss amount in $ terms
meaning if you lose a trade and win a trade you are up money overall correct? Aiming for 1:2 risk reward ratio on each trade?
So, you won one and you lost one. With 1:2 R:R, looks like you came out ahead then. Nothing wrong with that. Nice. JS