9-09-03 Not a bad day by any means today. There was a lot of good swings in the market today with some good range. I took PBI and MYL long right after the open. They both had nice 30 min bases. I got long PBI @ 40.10 and ended up getting stopped out when market dropped at .96 Long MYL @ 37.75 took half out at 38.25 and the other half out at 38.14. Around 9:05 CSt i got into NPSP long at 30.30, i kinda chased it after it broke out. ended up talking half off at 30.75 and other half off at 30.79. At 9:10 i got in long LPX @ 14.17. This stock has been on the corner of my eye for awhile. It was basing at the 52 week high and didnt want to break it. It also has been very strong the last month. I ended up putting a break even stop on it after it ran a bit because i was looking into more long term on this. It ended up hitting my stop at .18 when market got weak into the afternoon. I took GENZ as a short after lunch since the market was weaker. Took it short at 48.94. Ended up scratching. It just wasnt moving with the seeling at all. Grossed +$153.35 on 2200 shares
Good work today... Just curious as to how you find your setups? Do you just have a list of stocks you follow or do you do some type of scanning? --MIKE
I do alot of scanning at night to find longer term setups to daytrade the open off from. I use www.tradingscans.com for that. I basically just watch the leaders and laggers for the day for setups intraday. Id also say hmmm...50%ish of my trades come from TFMS.
Hey Joey, CONSISTENCY! Keep reproducing the GREEN results, and in time you will start to believe in yourself, rather then the specific trades your making. Once you internalize that you can be green day in and day out, you will step up the food chain in the trading world. Like Mark Douglas book discusses, it is all about CONSISTENCY and that means tight stops and cutting your losses. Make'em small and you will get the winners. I look forward to reading about your results as a trader. Happy trading PQ PS> I noticed that you stopped trading early a few times in the trading day. That is a good idea when you do not have the mental frame of mind. I used to tell myself that I was not going to stop for the day, but that I would take 2 hours off - go to the coffee shop - and read some Mark Douglas, or whoever to get my brain back in track - AND - TO think about the mistakes and emotions I experienced. DO that for a year and heck, you will see a result.
Joey, Yep. I am still haning out in Pheonix (2 years now), but after this summer I am thinking about the mountains. Got a trip to Colorado next week, to check out some realestate. Anyone out there in the trading world that digs Colorado? However, I have been trading from my home office the past year or so, on the phone trading with Lescor (Corey) for the first 45 minutes or so everyday, and having a good time. Look forward to some chats! Cya PQ
i use this daily to see what's cooking: http://www.smartmoney.com/marketmap/ you can ee right off how things go. I use webcrawler money and investing by quicken.com - chart to see the % per day I am making on what I hold. I like watching the % wiggle along. Last week I did :SINA, SOHU, ASKJ AMHC. LEND. Kept LEND over weekend and got HITK SCHN and NFLX on Monday. Still watching:SOHU, GVHR, SINA, KVHI, DRIV, FWHT, TRDO, SLAB, ERES, OVTI, DGIN, BDY. These are still on my list for the rest of the week. i make the lists before they BO. Them when they are just getting off the mark I go in and hang on for the ride. I do PnL instead of logging as you do. 7% last week and 11% so far this week.
Ya i talk to Corey daily also...Great Guy...My garndparents live in Colorado but they dont exactly trade lol