EOD: Monday, June 9, 2003 TODAY'S TRADES: Sold 300 ESV 29.00...................(Closed position. -.85 cents. Premise for entering trade is invalid) OPEN POSITIONS: 5/29/03..... SS... 200 PSS @ 14.83...... + .84 5/30/03..... B..... 250 POG @ 31.40...... + .38 5/30/03..... SS... 300 HEW @ 22.76..... -.51 6/02/03......B......200 FR @ 30.45........ +.1.27 6/05/03......B......200 MCY @ 46.59.......- .82 Unrealized P&L................................. + $200.00 Realized P&L...(as of 6/1/03)...............+ $714.00 TOTAL P&L REALIZED AND UNREALIZED..........................+ $914.00 I had 10 potential stocks on my hitlist this morning. Nothing triggered, so I didn't open any new positions. I'm happy that I am sticking to my strategy with solid discipline. I develop a premise for each trade and once that premise becomes invalid, I will close the position. I feel that if I stick to my discipline and take high probability trades with the proper risk to reward ratio, I should be able to hold my own with my swingtrades. Hopefully in the process, I will learn a few things about myself, trading, and having the proper market perspective. If my swingtrading strategy does not work out, I will go back to the drawing board and reevaluate. If it does prove to be financially profitable I'll slowly increase my size, as to not expose myself to excessive and unwanted risk.
EOD: Tuesday, June 10, 2003 TODAY'S TRADES: Sold 100 FR 32.05...................(scaling out +1.64, still long 100 shares) Bot 300 HEW 23.50.................(closed position, -0.74) Bot 300 AMZN 34.14................(new position) Bot 200 MTX 48.00..................(new position) Bot 200 TBL 50.25...................(new position) Bot 300 TBI 28.22...................(new position) OPEN POSITIONS: 5/29/03..... SS... 200 PSS @ 14.83...... + .87 5/30/03..... B..... 250 POG @ 31.40...... + .49 6/02/03......B......100 FR @ 30.45........ +.1.79 6/05/03......B......200 MCY @ 46.59.......- .69 6/10/03......B......300 AMZN @ 34.14.....- .07 6/10/03......B......200 MTX @ 48.00.......+ .53 6/10/03......B......200 TBL @ 50.25........+ .33 6/10/03......B......300 TBI @ 28.22........- .22 Unrealized P&L................................. + $422.00 Realized P&L...(as of 6/1/03)...............+ $656.00 TOTAL P&L REALIZED AND UNREALIZED..........................+ $1,078.00
EOD: Wednesday, June 11, 2003 TODAY'S TRADES: (no new positions) OPEN POSITIONS: 5/29/03..... SS... 200 PSS @ 14.83...... + 1.08 5/30/03..... B..... 250 POG @ 31.40...... + 2.06 6/02/03......B......100 FR @ 30.45........ +.1.79 6/05/03......B......200 MCY @ 46.59.......- .40 6/10/03......B......300 AMZN @ 34.14.....+ .53 6/10/03......B......200 MTX @ 48.00.......+ .85 6/10/03......B......200 TBL @ 50.25........+ .78 6/10/03......B......300 TBI @ 28.22........+ .71 Unrealized P&L................................. + $1.330.00 Realized P&L...(as of 6/1/03)...............+ $656.00 TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $1,986.00 I'm just going with the trend and I'm not going to let fear, greed, my "stupid" thinking, or opinions get in the way. As long as the probabilities are in my favor, I'll stick with my edge. If it works out...great...and if it doesn't...oh well. As long as I don't put myself in a position that will make me experience fear and greed, I should benefit from my edge.
The Total P&L is the running total of exactly how much I have made or lost since I started the journal. Hope I answered your question, gotta_trade
EOD: Thursday, June 12, 2003 TODAY'S TRADES: Sold 100 TBI 29.09.......(scaled out of 1/3, +.87, still long 200 shares) OPEN POSITIONS: 5/29/03..... SS... 200 PSS @ 14.83...... + 1.23 5/30/03..... B..... 250 POG @ 31.40...... + .40 6/02/03......B......100 FR @ 30.45........ +.1.90 6/05/03......B......200 MCY @ 46.59.......+ .09 6/10/03......B......300 AMZN @ 34.14.....+1.06 6/10/03......B......200 MTX @ 48.00.......+1.26 6/10/03......B......200 TBL @ 50.25........+ .92 6/10/03......B......200 TBI @ 28.22........+ .61 Unrealized P&L................................. + $1,430.00 Realized P&L...(as of 6/1/03)...............+ $743.00 TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,173.00
EOD: Friday, June 13, 2003 TODAY'S TRADES: (no trades today) OPEN POSITIONS: 5/29/03..... SS... 200 PSS @ 14.83...... + 1.23 5/30/03..... B..... 250 POG @ 31.40...... + .00 6/02/03......B......100 FR @ 30.45........ +.1.23 6/05/03......B......200 MCY @ 46.59.......- .21 6/10/03......B......300 AMZN @ 34.14.....- .03 6/10/03......B......200 MTX @ 48.00.......+ .51 6/10/03......B......200 TBL @ 50.25........+ .56 6/10/03......B......200 TBI @ 28.22........+ .02 Unrealized P&L................................. + $560.00 Realized P&L...(as of 6/1/03)...............+ $743.00 TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $1,303.00
EOD: Monday, June 16, 2003 TODAY'S TRADES: Sold 100 TBL 52.46 (scaling out, + $2.21, still long 100 shares) Sold 100 AMZN 35.80 (scaling out, + $1.66, still long 200 shares) OPEN POSITIONS: 5/29/03..... SS... 200 PSS @ 14.83...... + 1.03 5/30/03..... B..... 250 POG @ 31.40...... - .17 6/02/03......B......100 FR @ 30.45........ +.1.58 6/05/03......B......200 MCY @ 46.59.......- .08 6/10/03......B......200 AMZN @ 34.14.....+ 1.70 6/10/03......B......200 MTX @ 48.00.......+ 1.85 6/10/03......B......100 TBL @ 50.25........+ 3.15 6/10/03......B......200 TBI @ 28.22........- .22 Unrealized P&L................................. + $1,191.00 Realized P&L...(as of 6/1/03)...............+ $1,130.00 TOTAL P&L REALIZED AND UNREALIZED........(as of 6/1/03).............+ $2,321.00
Hi Gotta_trade, You are doing pretty well. Can you tell us more about the way you select stocks? I understand you buy strong stocks on consolidation but there must be hundreds of stocks with this crieteria. How do you choose the stocks to buy? DT1
Hi DT1, You are right. I literally go through 700-800 stock charts each night. I know that's crazy, but I also learn and observe different things when I am going through those stock charts. I use TC2000. I scan all of the stocks in TC2000's universe of stocks. At this time I am coming up with 700-800 stocks after I scan them with my criteria. Then I look at the trends and notice how close the stocks are to supports. If it's a relatively safe trade, where the stocks are relatively close to their supports...and the profit potential is there, the stock will make my hitlist. Predefining my loss is the most important thing that I do. I also want to make sure that there is no immediate resistance for the stock. So, now I know what I'm risking and I also know that the stock has room to move in the direction of the trade. My size is small while I experiment with this strategy. If my strategy proves to be profitable, I will SLOWLY increase the size of my trades. I won't even consider increasing the size unless I'm up at least $5,000. I also do not hesitate to take my losses. When my premise becomes invalid, I get out without hesitation. I will scale out of the trade when it is profitable. I want to "claim" some money. I happy with the way it's working out so far. But it's still to early to tell if my strategy will work out. But I'm going to stick with the method and the discipline and it should give me an edge.