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

Discussion in 'Journals' started by geez, Dec 21, 2008.

  1. Looking forward to it G
     
    #661     Apr 5, 2009
  2. geez

    geez

    Trade Descriptions from 4/03:

    9:33 RIMM SHORT 59.65
    * On the daily chart RIMM had 2 strong moves up wed & thurs, then gapped up fri. over $10.00. I like to be agressive on these typeof setups, using the 1 -5 min low to short. I shorted under the 1 min low 59.65, put my stop over the 2nd 1 min bar 60.15 and tgt 58.65. This moved .40 in my favor, but reversed and stopped for a loss.

    9:47 FAZ BUY 18.07
    *The financial sector is extended to the upside and looking for some retracement I bought the 1st reversal to the upside on the 5 min chart of FAZ. I bought over the 9:45 bar (18.07), the stop under the pivot (17.77) and tgt at 18.67. Moved .28 in my favor , then based, turned for a loss.

    10:20 DXD BUY 57.76
    * This is also an agressive entry because my bias was all shorts today. DXD had a strong move up at 10:05, followed by 2 very small bars from 10:10-10:15 and I bought as soon as it crossed the 10:15 high of 57.75. I put my stop under the 10:15 low (57.51) and tgt 58.26. wiggled me out for a loss then went to a high of 57.17 (still not tgt).

    10:32 RIMM SHORT 58.77
    * RIMM sets up a lower high on the 5 min chart when it falls below the 10:30 5 min bar (58.77), I put my stop over the high of this pivot (59.12) and tgt 58.07. RIMM drops .29 in my favor, then reverses for a loss.

    1:09 QID BUY 42.96
    *QID based near the lows through lunch. the 12:50 bar makes a strong move up and is followed by a small higher low. my charts were lagging and I wanted to buy over what I thought was the high of the 1:05 bar(my charts said 42.93), but the ACTUAL entry should have been 43.07. I put my stop under the pivot (42.76) and my tgt at 43.36. Stopped at 42.76.
    This is a set up I really like and works well when a stock is oversold on the daily chart and keeps moving lower through out the day.
    .......................................................................................................

    All 5 trades are part of my trading plan and trades that are easy to see on the charts, so I can't fault any of them. I had a very strong short bias going into the day and took all my trades to the short side (or bought the ETF short). Some days things all go in your favor and some times they all work against your bias. I would take all these trades again, and that is a good way to evaluate yourself if you had a bad day. Monday I will keep the same view (short bias) for the same reasons, we are even alittle more extended on the financials and the indexes. My only concern is can I mentally stay focused to get into trades early on monday after being shutout on friday, or will I let the setups go by, worried about losing on them. We shall see!!
     
    #662     Apr 5, 2009
  3. geez

    geez

    4/06/089:

    9: 49 500 FAZ BUY 16.97
    STOP 16.57
    TGT 17.77
     
    #663     Apr 6, 2009
  4. geez

    geez

    10:04 500 FAZ EXIT 16.57
    P/L -215.20
     
    #664     Apr 6, 2009
  5. geez

    geez

    4/06/09:


    10:10 500 AAPL SHORT 114.50
    STOP 114.90
    TGT 113.70
     
    #665     Apr 6, 2009
  6. geez

    geez

    500 AAPL EXIT 113.70
    P/L + 384.90
     
    #666     Apr 6, 2009
  7. geez

    geez

    4/06/09:

    10:59 800 DXD BUY 57.84
    STOP 57.59
    TGT 58.34
     
    #667     Apr 6, 2009
  8. geez

    geez

    11:14 Moving stop to B/E
     
    #668     Apr 6, 2009
  9. geez

    geez

    11:35 800 DXD EXIT 57.85
    P/L-6.07
     
    #669     Apr 6, 2009
  10. geez

    geez

    4/06/09:

    11:35 1000 RIMM SHORT 61.68
    STOP 61.88
    TGT 61.28
     
    #670     Apr 6, 2009