ig0r Swing Experiment

Discussion in 'Journals' started by ig0r, Nov 24, 2003.

  1. ig0r

    ig0r

    Got to the computer at around 10 AM, noticed that the low was at 5.02 (my entry) but I didn't get a fill so I entered at market (5.05 at that time) and left my 2% profit target on...

    Code:
    910232466 Sell 497 EMKR Limit at 5.15, GTC  Partially Filled:Filled      
    910232466-P1 Sell 497 EMKR Limit at 5.15, GTC  Partially Filled 97 at 5.15 2003-12-02 10:34:25    
    910232466-P2 Sell 497 EMKR Limit at 5.15, GTC  Partially Filled 400 at 5.15 2003-12-02 10:27:22    
    910230647 Buy 497 EMKR Limit at 5.05, DAY  Partially Filled:Filled      
    910230647-P1 Buy 497 EMKR Limit at 5.05, DAY  Partially Filled 297 at 5.05 2003-12-02 09:56:46    
    910230647-P2 Buy 497 EMKR Limit at 5.05, DAY  Partially Filled 100 at 5.05 2003-12-02 09:56:45    
    910230647-P3 Buy 497 EMKR Limit at 5.05, DAY  Partially Filled 100 at 5.05 2003-12-02 09:56:45    
    909884091 Buy 497 EMKR Limit at 5.02, DAY  Canceled  
    
    As usual I'll post my picks for wednesday later tonight, happy swingin'

    12/2/03
    No Position
    Equity: $2,547.74
    +5.448% since 11/25
    3 Winners 0 Losers
     
    #21     Dec 2, 2003
  2. ig0r

    ig0r

    My pick for 12/3 is KRY. Entering limit at 2.82, exit is at 2.88 (2% as usual)

    BUY 903 shares of KRY, Crystallex Intl
    at LIMIT of 2.82 DAY
     
    #22     Dec 2, 2003
  3. ig0r

    ig0r

    Filled at open (2.80), too bad I got to comp at 10 because I could've probably taken my 2% (exit is 2.86, the high). Sell @ limit of 2.86 currently in place
     
    #23     Dec 3, 2003
  4. U see with out stops and defined risk measured.. your 3 nice winners can easily be wiped out.

    I dont believe in trading w/o clearly defining your risk.


    --MIKE
     
    #24     Dec 3, 2003
  5. ig0r

    ig0r

    I have clearly defined risk :) I have a system and I re-analyze my position daily, I have a mental 5% stop
     
    #25     Dec 3, 2003

  6. Having a mental stop loss with small cap stocks is suicidal. These crappers can go down 10% in 5min..


    --MIKE
     
    #26     Dec 3, 2003
  7. ig0r

    ig0r

    Yes but that's a risk I take, I don't like having hard stops intraday; I realize that it can bite me in the ass eventually but it hasn't yet and it's something I'm willing to accept
     
    #27     Dec 3, 2003
  8. More like rape u in the ass.
     
    #28     Dec 3, 2003
  9. ig0r

    ig0r

    Haha, I guess you could put it that way. I'm not denying that it IS risky, I'll also add this, when I traded this method with more capital a few months ago, I would have 3-4 trades going at the same time and each would have 10% hard stops in :) The 15% moves in the other direction in ONE DAY are rarer than you think with the selection system that I use, maybe 1 in every 100-200
     
    #29     Dec 3, 2003
  10. ig0r

    ig0r

    Was extremely busy all last night and was unable to post an update nor even take a look at my position. It's down a little over 10% right now, but I still like the chart and so I will hold it for at least another day. If I see a close near the low on friday, I will be taking the loss. This is part of the reason that I don't like a hard stop, it might take me out of a position that I deem a good one.
     
    #30     Dec 4, 2003