Today got me back on track but last wed thru monday were awful. I kept getting stop out after stop out. Down 600 on wed, down 1800 on thrus (worst one day loss since Jan), up 790 on friday, up 450 on mon, down 600 on tues and up 2700 today. I'm usually very consistent but lately I cannot find that consistency.
Hey guys! I'm feeling great today! I'm motivated! So like I was saying the other day,... I've been getting my feet wet in ORCL. It's been handing it to me lately but I'm starting to get a better understanding of how the stock behaves. It seems to like increments of 5 cents per move. I think it's cool because I get to choose the price I want to get in at. Now, getting out..... That's the tough part. You see, I like getting filled on the bid. But sometimes it seems as though the only way to get in to bid and have the bid taken out. So when I get in, it might already be against me a penny. For some reason, I can't seem to stop freaking out when this happens. I'm so accustomed to immediately take the flat that it's making me second guess my analysis. I can get through it though, there are plenty of times this has happened and I've gotten out with success. I have to admit that there have been far more failures than successes. I've decided that NT is too dead to trade anymore. I can't remember the last time it traded it's average volume. I think it's because of a larger price patter that's occuring. If you look at a long term chart of NT price action over the past 200 days, you can clearly see the downtrend. This downtrend seems to have formed a consolidation pattern. I believe that its a descending triangle and that a breakout to the south is at hand. Of course I could probably be TOTALLY wrong, but who knows. In which case, I suck. So I'll be trading light and selectively today..... Good Trading!
goodpunk, Your journal has been entertaining and enlightening. It has been a pleasure to watch you grow over the last 6 months. Your latest post (mentioning trendlines, triangles, consolidation, etc ) demonstrates the true learning curve of trading. In your first few months, I would not have expected this type of analysis from a prop shop scalper. Apparently, you are doing your homework. Good for you! As people have mentioned before, paying for an education in trading is expensive...whether you lose $50/day scalping or $5000/month swinging. Just stick with it, and most importatnly, identify what you are doing wrong and what is working in your favor. Education and experience are worthless if you don't remember anything you learned! I wish you continued success in your trading adventures!
Another loser today...... I lost $24 and spent $75 losing it. That brings my loss from the second week of march to about $1350. That makes me feel great..... I had 21 buy fills, 29 sell fills, and 83,400 shares traded. Tomorrow will be a better day!
Well, you're there and you don't make money. By the way, you didn't tell us how much you lost on Friday.
True. I am there. I don't make money. But I will and you won't. Please don't post here again. I don't appreciate or welcome shithead comments like this. I left early on Friday. I lost $30 and spent $60 losing it. Now, I'm totally recalling this off of the top of my head but I think I had 18 buy fills , 17 sell fills, and about 75,xxx shares traded.