I'm not really sure. I've never really read up on it. There are a few guys on ET that follow him/it. I've heard bad and I've heard good. Mostly bad to be honest. Just do a simple search on ET, you'll find all you need to know.
Today's results: -$3247 One trade got away from today and I didn't know the news. If I had, probably wouldn't have lost so much money in it. Biggest Winners: No major winners to note. Biggest Losers: KV-A -3154.30 (the danger of fading and not knowing there's news...and why I generally stay away from fading anything medical/biotech related...but then again you look at BAX today I would've made some decent money in that trade...the psychology of trading) QIHU -266.16 (this was a larger loser...made back about $700 of what I had lost in it. Should've played it differently.) The market's uptrend has resumed. It's still a bit tenuous now, but strong stocks have already broken out (some have made great runs) and some are setting up to breakout on the upside. So we'll see what happens over the next few days. Currently holding overnight: - I had RAX long from 40.59 but made a dumb mistake exiting when I was getting my ass handed to me in KV-A. That trade would've helped me out quite a bit today. - PCS@16.33 - SSW@18.59 - IRBT@32.54 - CYMI@56.99 Psychologically: I'm glad this month is coming to an end. I'm barely positive on the month, but I'm not complaining. From a psychological perspective, I remember in the past I would take losers like this and just become down on myself. I know that I've grown a lot as a person b/c I actually don't feel negative. That's not to say that I'm okay with losing the way that I did, b/c I'm pissed off about it and I see so much in that trade that I could've done much better. I know that I'm a good trader and I'll be back to business as usual soon. I still need to work on trading from a blank slate despite taking a large loser in a previous trade. I'd like to achieve the balanced mindset where I treat every trade as if I'm up $10k on the day or I treat every trade as if it's my first trade on the day. Seems difficult to do, but I know guys that do it, therefore I know it's possible. Thanks for reading.
Probably was an attempt to make some round figure by the end of the month .I wish you to forget about those 'best traders' nearby. Thanks for keeping this journal.And i want to ask you something.Could you suggest some smooth, slow and quiet stocks within the 20-30 price range? Thanks once again
Maybe that was the underlying unconscious drive. I was definitely overeager in that trade. The more it dropped the better it looked...so it is with selling volatility. I wish I could forget about those guys too! But they motivate me to do better. The problems arrive when I find myself forcing things in order to beat other people in P&L on the day. Stupid. Sometimes I forget to always stick to self-to-self comparisons and not self-to-others comparisons. And only compete with myself. The opportunity was definitely there for a big trade, I was early and therefore wrong. No problem on keeping the journal. It's definitely been difficult to post the past few days but it's all about facing myself and being honest with myself about my trading. Smooth, slow and quiet stocks that move about 20-30 cents/day? I don't really know that arena very well. I would guess that you could look for stocks priced b/w $20-$30 bucks in that are stuck in a range on their daily charts. Unless they breakout or breakdown on their daily chart they may still be a candidate for that kind of trading? I wish that I could suggest something more helpful.
CIEN, DWA, DNR, GME, PCX, TOL, TSL, URBN, ZION (OK, compared to trading crude oil futures, they're smooth, slow and quiet )
Sorry, i meant to say $20-$30 in price stocks.Yes, it could be everything as long as its chart looks pretty and beautiful.And want them to be as boring as hell. ND`s select looks really nice, maybe except of the URBN. Look at it..it`s ugly
Thank you, btw You are right, CL could jump up and down $500 even with one contract.I tried it yet with 3XETFs and i don`t consider it as the good idea anymore