Input is helpful - would always like to see more details on your setups - interesting thread, keep it up
Buying the 5 min pullback in this base, I don't like the time of day, but I like the way the market is holding the gap from this morning and I will look for a selloff into close, if it doesn't reach target I will close near EOD.
02/17/09: TOTAL P/L -27.17 1 win 2 losses Something I do everyday is go back and look at my trades and see if would still enter them now, i.e. are they good setups. All three trades today fit in my trading plan, the last trade was aggressive, but was still a minor higher low on the 5 min chart in a base(after a gap up and holding), and my bias today was to go short as much as possible , i.e. be aggressive. So everything is ok, as long as they fit in my plan. *edit* P.S. on the last DXD trade I was up over .50 and .10 more I would have moved stop to b/e due to the fact it was close to EOD. A little insight on my trade management.
Thanks for the stats update. Great entry on the 2nd DXD trade... sucks the 3rd DXD trade turned against you. The financials were weak all day, then they pull that bounce.
02/18/09: Wed. Morning: Most daily charts look as banged up as Jessica Simpson after a stop at KFC. Luckily we are gapping up some, and hopefully we can get some intraday scalp shorts in, if we don't rally too much. My intraday bias is still on the short side(mostly indexes), but I'll keep an eye on the usual suspects (AAPL RIMM)for any relative strength for a scalp long , if need be. Anyone reading this journal can lend a helping hand and post any stocks that have moved down in climatic fashion and may be ready for a long trade. Looking for something down 5 days or more, trades over 1 million shares, and hopefully down over 10%-20% in that time. Good trading all!
Scorpiano, One other thing to remember is I am using a pretty basic broker for this bet w/ $7 comm. each way...$14 roundtrip. $14x 60 trades=$840 With a much better broker(or trading the emini's instead of the ETf's) at least half of that $840 could be in your pocket, and not the brokers.