James Brick and Mortar Discretionary Trades

Discussion in 'Journals' started by JamesJ, Feb 19, 2012.

  1. JamesJ

    JamesJ

    >> Trade Update <<

    Looking to add more shorts, if market goes lower

    Edit: Added 4 shorts

    Total Shorts: -9@ avg 6951.5

    EDIT: this trade has a relatively wide stop at around 7000ish (not to get stopped out in case there's another quick upleg, before the expected sell-on-good-news really kicks in

    Edit: added one more short: bringing pos to: -10 @6951.2
     
    #31     Feb 21, 2012
  2. i dont trade shortterm but if i get a chance would probably not be too different to what you do. Varying size and leave this <60% win rate to others and take only >60+% sometimes looks like scalping. btw. enjoying this thread.
     
    #32     Feb 21, 2012
  3. JamesJ

    JamesJ

    >> Trade Update <<

    Took some 4 off 6938-6941. looking to take one more off at 6933.50.
    Won't be in a hurry to take off the remainder thereafter (looking for possible homerun with <6900).

    Edit: 6933.50 hit. 5 shorts remaining, if we get to 6925, stop will be lowered to 6950. Not closing anymore before <6900.
     
    #33     Feb 21, 2012
  4. hey I am enjoying reading your journal as I trade the DAX.

    Good job with that last short, worked out nicely.
     
    #34     Feb 21, 2012
  5. JamesJ

    JamesJ

    >> Trade Update <<

    Stop moved to 6950.

    Any downmove can really have legs here, as market focus may shift from greece rescue to iran...
    Stop@6950 is somewhat close to current prices, viewing it as a (more or less) trail stop of 25 points.
     
    #35     Feb 21, 2012
  6. JamesJ

    JamesJ

    >> Trade Update <<

    [​IMG]

    Stop moved to 6940,

    Buy limit at 6891.5 for first of the 5 remaining shorts.

    Edit: downmove somewhat takes a break right now, took off 1 at 6910 (thus the 6891.5 limit is removed)
     
    #36     Feb 21, 2012
  7. JamesJ

    JamesJ

    >> Trade Update <<

    [​IMG]

    Trade developing good, still holding on to those 4 remaining shorts.
    Looking to close one around 6880, and then reevaluate (maybe lowering the stop).

    Edit: looking for <6870 for first close, rather than 6880, and stop moved to 6925.
    Edit: closed one at 6898.5 as failed to establish new lows, and potential of a short time upmove prior to us open.
    Remaining Position: -3 FDAX@6951.2

    Edit: limit of next one to close is 6862.50 (with current price of 6893.5 equals in theory a 50/50 chance of limit getting hit or stopped out)
     
    #37     Feb 21, 2012
  8. JamesJ

    JamesJ

    >> Trade Update <<

    Adding some shorts (7) at the current level 6907-6909, for a quick scalp back to 6900 level, worst case stop on whole position 6925.

    No major numbers at 8:30 ET
     
    #38     Feb 21, 2012
  9. JamesJ

    JamesJ

    >> Trade Update <<

    Scalping Shorts all back off, some in the 6902-04 area, rest closed around entry.

    Will post overall PnL, after whole position is closed. (still 3 FDAX short ON)
     
    #39     Feb 21, 2012
  10. JamesJ

    JamesJ

    --- US Market Outlook ---

    Interesting Stocks:

    CORT - up 62% on drug approval :

    - no history on that, hard to say wether move is fundamentally sound.
    - look at momentum for possible daytrade
    - probably no trade here as volume and market cap invite MM&HFT to fool around.

    THLD - up 53% on drug news:

    - same as CORT, probably no trade


    WMT - down 3% :

    - worse than expected earnings and outlook
    - maybe a short momentum play after open

    CIEN - down 4% :

    - cut forecasts for Q1
    - also a potential quick trade

    Other Stocks to watch:

    HepC Stocks - recently in the news on drug trials and report saying that HepC deaths will soon surpass HIV deaths.

    GILD
    VRTX
    ACHN
    ...
     
    #40     Feb 21, 2012