DaytraderDave's Trading Log

Discussion in 'Journals' started by DaytraderDave, Apr 22, 2002.

  1. Long 1,000 shares of WCOM @ 4.00

    Will add 1000 @ 3.95, 3.90, 3.85, 3.80... and then stop for all shares at $3.74.

  2. are you kidding?

    why not just head out to the desert and play some roulette?

    still losing odds, but at least Vegas will give you 48%....
  3. We just had a WCOM sales rep visit our office trying to sell phone services. He actually uttered the sentence, "Our company is doing very well."
  4. Might want to average down into WCOM when it goes under $2...

  5. Hell yeah! If you like it at 4 you gotta LOVE it at 2.
  6. i've got a bid in for ten million shares at zero
  7. cheapskate! :p

    DaytraderDave: I thought the point of daytrading was to go flat at eod. Is that just your posting name or your style of trading?
  8. Ended up with only 1000 shares with the strategy that I listed. All other orders have been canceled since it may gap up or down. Note risk is only $250, upside potential is pretty damn good, note look at the move when it hit a previous panic bottom at around $4.50, rallied in a two day period to about $6.50. Same strategy, give the low of the panic bottom as your stop loss, and let it ride. Pretty simple, but I'm sure all the people talking smack didn't bother too look at the chart. Note, that another previous panic bottom occured around the $8 range about a month and a half ago, same result, two points. Notice if it hits $2, it does not matter to me since I have a stop loss in place, which any good trader would do, either mental or actual.

  9. On the stop, I give it a few extra cents beyond the low, since the low will be act as support, and a few extra cents to clear out the random prints that can go through.
  10. If you are carrying it overnight, your stop does not mean much if it gaps past it.
    #10     Apr 22, 2002