A 70k bet that I can't make a 50% gain in 2009

1/08/09 Trades:

10:05 800 GLD BUY 84.30
STOP 84.05
TGT 84.80
11:17 800 GLD EXIT 84.72
P/L +322.70


10:28 200 SHLD BUY 47.60
STOP 46.60
TGT 49.60
14:03 200 SHLD EXIT 49.53
P/L +372.00

15:17 650 AAPL BUY 92.50
STOP 92.20
TGT 93.10
15:23 650 AAPL EXIT 92.20
P/L -215.00

TOTAL P/L + 479.70

 

I like the format. Easier to understand.

Good trading

DD

 

When are you going to offer us your magic trading formula? After 2 weeks or 2 months of profitability?

 

What causes you to take profit before the target is reached?
You did that with both winners today.

 

Once I get into my "target area" of a 2/1 risk reward I 1st check to see how the indexes are acting compared to the stock.
ex: If the stock is right in target range and the indexes are nearing resistance and starting to turn against me I will put on a "mental" trail stop on the position I am in so that I don't get within .05 of a target and have it turn negative. But if everything looks good I will let it go til taget.
Also, time becomes an issue as was the case in SHLD today. It got close to target once and then took a couple hours to get back to that area and once it did, it atrted putting in toppong tails so I took it in my 1.8-1 r/r area.
NOTE: Once I was up over 1.75 on the trade I moved my stop lock in at least a 1.00 gain.

 

No magic formula. I basically have 4 patterns I look for and try to do those over and over again.
I posted the times I took each trade (all trades have been on the 5 min charts) and you can look at them. If you have a question on why I entered the trade I'll give you my thought process on each one.

 

1/09/09

Will look to be aggressive in the early AM for a LONG. Will continue to look long most of the day unless we have some wide range red bars down , if that happens I'll wait for monday.
Watching SPY DIA SNDK ACAS JRCC PMCS..... the .sox and IBM

If we gap up I will wait for pullbacks on the indexes or see what is just breaking away and try to catch the 1st pullback.

 

1/09/09 Trades:

10:10 900 DUG BUY 23.67
STOP 23.45
TGT 24.11
10:11 900 DUG EXIT 24.06
P/L +335.85


10:26 2000 XLNX BUY 16.53
STOP 16.43
TGT 16.73
13:10 2000 XLNX EXIT 16.43
P/L -212.80


12:35 800 RIMM BUY 47.63
STOP 47.40
TGT 48.10
12:43 800 RIMM EXIT 47.38
P/L -214.10


1/09/09 TOTAL P/L -91.05

WEEK Ending 1/09/09 P/L: +1827.96

NOTE: Bought 300 SNDK shares for a swing long 12.55 for a tgt of 14.25. Stop 11.65.

 

1/12/09:


SPY DIA QQQ do not look quite as strong after the selling on Friday. Will look to scalp/daytrade today stocks that are holding up pretty well intraday. Watching USO OIH for a long scalp today, in SNDK long as a swing from friday, IBM & MON on long swing watch today as well. If we base near the low today on the indexes I'll put on my short hat and look for some weak stocks to scalp lower.

 

1/12/09 Trades:

SNDK (swing) 300 EXIT 11.65
P/L -284.66


11:01 600 RIMM SHORT 47.16
STOP 47.46
TGT 46.56
11:37 600 RIMM EXIT 46.56
P/L +344.10


14:24 800 QID BUY 57.92
STOP 57.67
TGT 58.42
14:43 800 QID EXIT 58.44
P/L +402.00


15:08 500 DXD BUY 57.05
STOP 56.65
TGT 57.85
15:46 500 DXD EXIT 57.05
P/L -14.00.

1/12/09 Total P/L: + 447.44

NOTE: Entered 100 IBM swing LONG at 86.05, STOP 84.05, TARGET 90.05

(suckered me in on the a.m. strength, we'll see what happens)