The only time I add to winning position is if it sets up again and this just becomes another trade. I was long BP today and almost "added" or took a second trade in it. I'm sure puddles will post the chart and it will be easy to see the second trade entry.
<img src="http://puddles.humanfund.ca/20101206/spy.png"> <img src="http://puddles.humanfund.ca/20101206/rimm.png"> <img src="http://puddles.humanfund.ca/20101206/amgn.png"> <img src="http://puddles.humanfund.ca/20101206/wlp.png"> <img src="http://puddles.humanfund.ca/20101206/bp.png"> <img src="http://puddles.humanfund.ca/20101206/mon.png"> <img src="http://puddles.humanfund.ca/20101206/amzn.png"> 9:36 (2min play) LONG RIMM 63.16 STOP 62.99 TGT 63.47 - Real strong from the open - SPY gaps down but heads higher - out -0.20 9:41 (2min play) SHORT AMGN 63.39 STOP 63.47 TGT 63.23 - Gap and crap - out -0.08 10:16 SHORT WLP 56.39 STOP 56.51 TGT 56.18 - WLP weak from the open - Tight lower high at the lows while SPY tries to retrace - Should have been a b/e stop - out -0.16 12:32 LONG BP 42.51 STOP 42.47 TGT 42.59 - BP jamming up against .50 resistance - Long over it - Identified all the potential add spots as per geezy's request - out +0.08 and +0.13 on a trailer 13:56 SHORT MON 62.41 STOP 62.51 TGT 62.21 - MON weak since 11am - tight lower high while SPY heading higher - out -0.13 15:11 LONG AMZN 177.59 StOP 177.40 TGT 177.97 - Great strength in the afternoon - out +0.36 http://puddles.humanfund.ca/wp/2010/12/07/2010-12-06-trades/
Puddles, Can you go over your rules you are using for entries? By looking at your chart, I am not seeing any obvious setups.
<img src="http://puddles.humanfund.ca/20101207/spy.png"> <img src="http://puddles.humanfund.ca/20101207/rimm.png"> <img src="http://puddles.humanfund.ca/20101207/low.png"> <img src="http://puddles.humanfund.ca/20101207/aig.png"> <img src="http://puddles.humanfund.ca/20101207/dtv.png"> <img src="http://puddles.humanfund.ca/20101207/cat.png"> 9:32 (2min play) SHORT RIMM 62.69 STOP 62.85 TGT 62.37 - whole market gaps up, RIMM tanks from the open - Market does not appear to rip higher, look for a short - out +0.31 9:42 (2min play) LONG LOW 25.06 STOP 24.99 - LOW on daily long watch - LOW gaps up and heads higher while SPY stays in a range - out -0.09 9:54 (2min play) LONG AIG 44.42 STOP 44.29 - AIG ranging at the highs while SPY drifts lower - out -0.15 10:07 SHORT DTV 39.94 STOP 40.02 TGT 39.78 - Huge weakness from the open - Short the tight lower high under the round # - out +0.15 10:23 LONG CAT 91.59 STOP 91.34 - CAT gap and go while whole market gap and crap - out -0.26 http://puddles.humanfund.ca/wp/2010/12/07/2010-12-07-trades/
<img src="http://puddles.humanfund.ca/20101207/spy.png"> <img src="http://puddles.humanfund.ca/20101207/lvs.png"> <img src="http://puddles.humanfund.ca/20101207/bdx.png"> <img src="http://puddles.humanfund.ca/20101207/yhoo.png"> <img src="http://puddles.humanfund.ca/20101207/osk.png"> <img src="http://puddles.humanfund.ca/20101207/cam.png"> <img src="http://puddles.humanfund.ca/20101207/rax.png"> 13:51 SHORT LVS 48.09 STOP 48.23 - LVS setting up a tight lower high at the bottom of the range while SPY strong - (SPY was probably a little too strong to take this entry) - out -0.14 14:17 LONG BDX 81.72 StOP 81.62 TGT 81.92 - BDX on daily long watch and been strong all day - SPY heading back to the highs - out -0.1 14:19 LONG YHOO 17.02 STOP 16.97 TGT 17.12 - See above - out -0.05 14:30 LONG OSK 34.62 STOP 34.52 TGT 24.82 - OSK with a ton of strength. - The RTM guys had this on watch so we were trying to catch it for one more leg up before they pounced - Bought the top - out -0.13 (SPY fell off a cliff which of course occurs when I'm in the 3 longs mentioned above) 15:10 SHORT CAM 49.29 StOP 49.45 TGT 49.00 - Market strong until the 3pm selloff - CAM weak all day, look for continuation in a tight lower high - out +0.29 15:31 SHORT RAX 30.39 STOP 30.51 TGT 30.15 - Same as above.. moved stop when it got close.. - ticked out then straight to tgt - out b/e http://puddles.humanfund.ca/wp/2010/12/07/2010-12-07-trades/
9:40 LONG GS 163.25 STOP 162.99 TGT 163.77 out +0.44 9:47 SHORT UAL 25.18 STOP 25.27 TGT 25.00 out +0.17 10:05 LONG LNC 26.57 STOP 26.47 TGT 26.77 100 shares go lifted at tgt for +0.19, rest went back to b/e (fuuu lnc). counting as a b/e trade
<img src="http://puddles.humanfund.ca/20101208/spy.png"> <img src="http://puddles.humanfund.ca/20101208/gs.png"> <img src="http://puddles.humanfund.ca/20101208/ual.png"> <img src="http://puddles.humanfund.ca/20101208/lnc.png"> 9:40 LONG GS 163.25 STOP 162.99 TGT 163.77 - GS gap and go - Long over the lower high, stop under the round # - out +0.44 9:47 SHORT UAL 25.18 STOP 25.27 TGT 25.00 - UAL tanko from the open - Short under lower high as SPY turns - out +0.17 10:05 LONG LNC 26.57 STOP 26.47 TGT 26.77 - Tight higher low at the highs while SPY sells off - 100 shares go lifted at tgt for +0.19, rest went back to b/e http://puddles.humanfund.ca/wp/2010/12/08/2010-12-08-trades/
<img src="http://puddles.humanfund.ca/20101209/spy.png"> <img src="http://puddles.humanfund.ca/20101209/sndk.png"> <img src="http://puddles.humanfund.ca/20101209/x.png"> <img src="http://puddles.humanfund.ca/20101209/mee.png"> <img src="http://puddles.humanfund.ca/20101209/v.png"> <img src="http://puddles.humanfund.ca/20101209/akam.png"> <img src="http://puddles.humanfund.ca/20101209/arg.png"> <img src="http://puddles.humanfund.ca/20101209/ibn.png"> 9:47 SHORT SNDK 46.79 StOP 46.96 TGT .. - Gap and crap, look for continuation - out -0.17 9:48 LONG X 53.03 STOP 52.97 TGT 53.15 - Gapped up with SPY but headed higher (vs. SPY heading lower) - super tight higher low over round # - Probably should have given this more wiggle on the stop, 6c kinda tight for X - out +0.11 10:01 LONG MEE 51.18 STOP 51.06 - By 10am SPY had gapped up, sold off a bunch and almost retraced back to it's open - MEE strong from it's gap up, long over the higher low expecting the market to continue upward out -0.15 10:15 LONG V 78.02 STOP 77.89 TGT 78.28 ADD V 78.25 STOP 77.15 TGT 77.45 - SPY sells off from 10am forward (was there even a #?) - V holds its range at the highs - Long over the higher low - V sets up another higher low in a continually weakening market - Add half size and move all stops to .15 - I should have taken some of my trade off at the original tgt. counting as 1-1 out +0.13 out -0.11 10:56 SHORT AKAM 51.59 STOP 51.73 TGT 51.31 - AKAM gaps down vs. SPYs gap up - Weak all day, look for continuation as SPY is heading towards a gap close - out -0.24 14:30 LONG ARG 62.51 STOP 62.34 TGT 62.85 - Apparently someone wants to buy these guys for $70 and that isn't good enough - Chat room folks were buying, sets up a nice triangle thingy at 62.50, Long over it - out +0.34 15:13 SHORT IBN 46.43 STOP 46.58 TGT 48.13 - Gap down, weak all day - Look for cont under the lower high (as SPY is heading higher) - out +0.29 Was a fun day watching AIG (even though I should have been in it more that I was).. GO AIG http://puddles.humanfund.ca/wp/2010/12/10/2010-12-09-trades/
<img src="http://puddles.humanfund.ca/20101210/spy.png"> <img src="http://puddles.humanfund.ca/20101210/lvs.png"> <img src="http://puddles.humanfund.ca/20101210/stt.png"> <img src="http://puddles.humanfund.ca/20101210/akam.png"> <img src="http://puddles.humanfund.ca/20101210/unp.png"> <img src="http://puddles.humanfund.ca/20101210/aig.png"> 10:10 SHORT LVS 45.87 STOP 46.01 - Tanko from the open - Look for continuation under the lower high - out -0.16 10:32 SHORT STT 44.99 StOP 45.20 TGT 44.54 - Gapped up with SPY - Market sells off, STT sells off harder - Late on the short, huge stop, huge tgt - Couldn't get through support at .68 - out -0.05 (b/e) 11:16 SHORT AKAM 51.69 STOP 51.81 TGT 51.45 - AKAM basing at the lows on support - Short the break (geezy front ran me here from .72) - out +0.22 11:17 SHORT UNP 91.85 STOP 91.95 TGT 91.65 - Weaker than spy since the open - Nice post 11am sellof - Look for cont. - out +0.19 13:25 LONG AIG 49.13 STOP 48.99 TGT .. - Been the stock of the last few days - tight higher low setup - out -0.16 11-17 week, 16-28 month.. prob only a week of trading left this month too.. http://puddles.humanfund.ca/wp/2010/12/10/2010-12-10-trades/