Nice journal Puddles. I still wonder why you don't just trade the SPY, IWM, QQQQ, FAS, FAZ, or some other highly liquid etf. Nice trading but I bet that your win rate and profit factor would improve significantly.
10:10 LONG JNPR 39.22 STOP 39.09 TGT 39.48 out -0.16 10:36 SHORT PTEN 24.79 STOP 24.93 (already to b/e at this point) TGT 24.51
<img src="http://puddles.humanfund.ca/20110204/spy.png"> <img src="http://puddles.humanfund.ca/20110204/jnpr.png"> <img src="http://puddles.humanfund.ca/20110204/pten.png"> 10:10 LONG JNPR 39.22 STOP 39.09 TGT 39.48 - Sector strong, beast out of the open - SPY sells then fully retraces by 10am, JNPR at the highs - Long the higher low - out -0.16 10:36 SHORT PTEN 24.79 STOP 24.93 (already to b/e at this point) TGT 24.51 - PTEN on extended long watch - Weak since the open, short under the bar - Saw it setting up again so I took half off and bumped stop/tgt down - Didn't get to my new tgt (.31) - out +0.22 and +0.14 7-7 week, 7-5 month http://puddles.humanfund.ca/wp/2011/02/04/2011-02-04-trades/
oh and i'd like to thank bob W for the CCME call yesterday at the close.. got swing long at 11.11. averaged +2.0 selling off the whole position through the day. <3 bob have a nice weekend everyone.
I just felt it was a big waste after you spot a wonderful entry for JNPR. I understand you trade with tight ranges. Have you thought to widen up the range?
my stops drive my target price (entry + 2x stop size).. i want them as tight as possible within reason. if they're too wide my targets are too far out as well.. i follow a very rigid system in terms of stops and tgts and i don't plan on modifying my criteria until i can see a statistically significant reason to.