Thanks for answering my question and sharing your method. I usually do swing trade in options and daytrading stocks is a bit "terrifying" for me, however I can also see a lot of opportunites in day trading stocks and have started to do a little, however I am lacking your kind of discipline and therefore I found your journal quite worthy of following. Good luck with tomorrow's trades! OC
03/18/09: It was hard to keep elitetrader up yesterday. Here are the results from yesterday's trades: 600 DIA EXIT 72.07 P/L -196.08 200 FAZ EXIT 41.02 P/L -210.00 600 SRS EXIT 70.09 P/L -216.80 300 FAZ EXIT 39.71 P/L -206.00 Total P/L -828.88 4 trades 4 losses At least the guiness helped ease the pain.
03/18/09: Wed a.m.: The daly charts are setting up for a "measured move" higher: We had a 4 day rally, followed by a red bar monday, followed by another move up on tues. If you believe in the "measured move" (I'm not a huge believer, but have seen it in the past) we should get a rally over the next few days. With that being said, and after having 3 shorts stop me out yesterday, I will be open to both longs and shorts today. It looks like most of the strength is coming from the nasdaq early on. Good trading all! P.S. AMZN daily chart was a beautiful long setup yesterday, but I just didn't "feel" it...so the lesson there: Just trade what you see, not what you think!