- $1247 Shorted PSS @ 17.77 on stochastic overbought and covered on oversold @ 17.55 for a very quick $440 gain. Later bought AAPL calls and set a very tight limit order for an expected profit of $300 (it was a later day range trade and I didnât want to be too ambitious in my expectations). I saw my order status screen light up with the fill and a little while later noticed my P&L number wasnât as high as it shouldâve been with that trade. Checked the order status and saw only 6 of 14 contracts were filled! AAPL and the market were now in freefall, so I quickly exited the remaining position for a $1680 loss. This is the second time in two months that I was unaware of a partial fill. I will never overlook that again!
- $422 Only did one trade today, had computer problems and was afraid to trade the usual fast movers as a result. Bought APWR on a failure to make a new low, but stupidly ignored the fact the stochastic was overbought at the time. Computer died after the trade, then I got everything back up and set a stop at the LOD, which eventually hit for the loss.
+ $280 I had PSS puts from last week I had forgotten about and the limit triggered for a $100 gain. Bought SHLD puts during the rally on some hedge fund manager being bullish on the stock. Bought V @ 67.99 on an oversold stochastic, but missed the selling pressure that was still on and exited @ 67.28 for the loss to await a better entry, which came on the next oversold stochastic with buying pressure. Entered @ 66.90 and exited on overbought indicator @ 67.40. Iâm planning to trade AAPL exclusively tomorrow and see how that goes. I miss a lot good entries by watching too many charts, so I think focusing on one stock will be beneficial, as it worked for V when I stayed focused on it.
I hear Lightspeed is running a promotion where you get eSignal advanced charts for free. Check out the link http://www.lightspeedtrading.com/open_account.htm
Spammers will have a ring in hell all to themselves. Why attack a journal that I love? Why you evil person?
- 18,060 Came back from an appt to find steel downgraded again, specifically STLD. I had a large option position (too large) and could not risk any more of it in this market. There was a point a while back when this position was near b/e and I did not feel good about the chart, yet I held on. The lesson here is to limit risk, trust your intuition and set tight stops. I'm amazed at how I can make th4 same mistakes again and again. Didn't catch any trades other than this today as I was out of the office a good part of the day.
no really esignal is the best charting ive used and lightspeed is the only place that has it for free i think.
+ $143 I was excited to trade this morning because all day yesterday I continued to study stochastics and narrowed my best indicator down to a very specific pattern, and how it worked under a variety of conditions (bad and good, since yesterday was the day for that). So what do I do this morning? I impatiently jump the gun, put on a RIMM long before getting the indicator I had pegged after yesterdayâs research and end up exiting the trade at a $807 loss, as my indicator indicated nothing good ahead. Indicator was very right, and I was glad to make a disciplined exit. Had I waited for the true signal, I wouldâve pocketed a small profit. IMPORTANT: Going long for bounces in down markets is good only for small profits; take them and move on. Focus on shorts in the down market, unless playing a bounce off panic into major support. (Watched MA carefully for this intending to trade it, then grabbed some lunch and came back to find I missed the 189-197 bounce!) Yesterday I had an offer in for SHLD Oct $95 puts that never filled. Put in another offer today, which got filled during what could only be explained as a short squeeze (spike to 105), because this company has no fundamentals whatsoever. I set an initial target profit of $1/share and it looked like it would be hit, but not really go lower. However, as my target drew near I thought Iâd move it up because suddenly the buying volume seemed dry. No sooner did this thought cross my mind, the limit order was filled for a $1000 gain. The bid/ask spread is quite wide on these options so you really donât know when youâre going to get a fill on limit orders. Left money all over the table with this one.
Hi NoDoji, Your pesky friend from chat is back. Glad to see you understood your mistake and got out of the trade. Also contrats on the second trade kinda. I say kinda because of the size of the trade. If there is someone who understands the pain of being too large in a trade its me right now. I really believe that you should focus on learning as cheap as you can. ok, I am done. Glad to see you made money !!