LSU's Journal...

Discussion in 'Journals' started by lsudaytrade, Jul 3, 2003.

  1. How neat is this... margin call on 7/03/03
  2. trades from june 20 - june 30

    June 20th(Fri):

    short 1K GM 38.79
    short 400 MRK 63.00

    June 23rd(Mon)

    cover 400 MRK 61.79 (+484)
    cover 1K GM 37.78 (+1010)

    June 25th(Wed)
    short 1K ANF 27.72
    cover 1K ANF 27.17 (+550)

    June 26th(Thurs)
    short 1K ANF 28.00

    June 30th(Mon)
    short 1K GM 36.30
    short 1K TGT 38.05
  3. trades from july01 - july02

    July 1st(Tues)

    cover 1K TGT 37.00 (+1050)
    cover 1K ANF 27.80 (+200)
    cover 1K GM 35.45 (+850)

    July 2nd(Wed)

    short 800 MRK 62.45
    short 1K SLB 48.20
  4. trades from july 03

    July 3rd(Thurs)

    cover 800 MRK 61.10 (+1080)
    cover 1K SLB 47.82 (+380)

    short 1K SLB 48.28
    cover 1K SLB 48.25 (+30)
  5. My problem is I dont know or rather feel uncomfortable going LONG. Excluding the last near breakeven SLB trade, I've made 8 consecutive trades for winners(200+) which are all shorts.

    I see the signals to go LONG, after I cover especially, but just cannot make myself do it. Its almost like "LONG PHOBIA".

    Anyone else this way too? Are there any traders that rely solely on shorting and is successful at trading?
  6. trades from July 7th(Mon)

    Short 1K TGT 38.10
    Short 1K MRK 62.02
    Short 1K ANF 29.80

    Covered 1K MRK 61.99(+30)

    Saw the opportunities to go LONG and capitalize at the opening bell but still couldn't do it. oh well..
  7. It's apparent that you certainly aren't afraid to trade. Next time you see a good LONG opportunity, just go for it. Subsequent long trades will be easier.
  8. thanks for the commentary GL...

    We'll see if I can pull off a LONG...
  9. trades from 7/8(Tues.)

    Rough week..

    Last two wks of gains disappearing real quickly. TGT saw a new 52 wk high. Short another 1K ANF at 31.10. ANF is up over 10% in two days without company news. ANF SSS reports are due out Thurs.

    Good luck to all..
  10. trades from july08 to july10(Thurs)

    July 08(Tues)
    Short 1K ANF 31.10 (averaging up, short 2K ANF 30.45)

    July 09(Wed)
    No trades, completely out of margin

    July 10(Thurs)
    Covered 1K TGT 38.00 (+100)
    Covered 2K ANF 30.05 (+800)

    Although I covered TGT too early and missed out another 600+, I'm still very relieved to see these two turn into winners. At one point I was down -1840 on TGT and -2600 on ANF.

    Was it poor money management to not implement a stop loss? Together that could've been easily -4500, approximately 15% of my 3x,xxx account.

    Also, I had double down and shorted another 1K ANF on Tuesday. Isnt that a big NO NO?

    Everything said and done, I now have manage 10 consecutive trades for winners, which were all short sells. This excludes the SLB(+30) and MRK(+30) trades. Those 10 winners were all 100 or more gainers.

    All comments welcome. I've still yet been able to go LONG.

    Happy trading..
    #10     Jul 10, 2003