wow, you've really been watching my trades. yes, i try to get in at 1c above or below the prior bar and i use a stop limit order. depending on the stock and situation i'll give it a cent or more of slippage on the way in. there is always the potential to get no fill and miss a trade and usually when this occurs it's a home run winner. it kind of hurts but i'm not into chasing entries and really messing with my r:r. what you see posted on my trades is my desired entry price, my fill is not necessarily that price.. i calculate my target using 2:1 ratio based off the desired entry and not the fill. my goal is a 1.8:1 realized r:r. in the rare case i get price improvement on my entry, i will take into account the actual entry and calculate a closer target. (price improvement on entry is generally a very very bad sign) ie. LONG ABC 20.25 STOP 20.15 TGT 20.45 out +0.19 i would have filled .26 on the way of this trade. in my records i would have recorded the r:r on this trade as 1.73:1 (19:11) LVS filled me at my trigger price on the trade you mentioned. <img src="http://puddles.humanfund.ca/20110523/lvs_execs.png">
<img src="http://puddles.humanfund.ca/20110524/spy.png"> <img src="http://puddles.humanfund.ca/20110524/rimm.png"> <img src="http://puddles.humanfund.ca/20110524/unh.png"> <img src="http://puddles.humanfund.ca/20110524/jdsu.png"> <img src="http://puddles.humanfund.ca/20110524/mdt.png"> 9:42 SHORT RIMM 42.93 STOP 43.03 TGT 42.73 - SPY gap up, RIMM gap down - Perfect gap trade, little afraid of shorting RIMM due to yesterday's spectacular fail on the same trade - out +0.2 9:57 SHORT UNH 47.95 STOP 48.11 TGT 47.57 - whole healthcare sector tanking - tight lower high at the lows - i even said in chat "i think i might be late on this one" - i noticed i hadn't set up my alerts for the day so I checked to see if #s were coming out. Saw the 10am new home sales, said to myself "I should punch out this UNH trade".. I didn't, numbers were good enough to headfake the market higher and stop me out. Lesson learned - out -0.2 10:05 SHORT JDSU 19.34 STOP 19.45 TGT 19.12 - no real bounce at 10am - chart kinda sloppy, i could have probably avoided this one - out -0.12 10:14 SHORT MDT 40.00 STOP 40.11 TGT 39.78 - nic and I had been watching this level - tried to short .99, got filled 1c better. bad sign - out -0.11 http://puddles.humanfund.ca/wp/2011/05/24/2011-05-24-trades/
oh, man, if you held RIMM a little longer, you would make a home run No, I was just joking. I am glad that you stick with your plan.
Yep, been watching your trades and reading your thread(s) lately. I was reading Geez's thread yesterday, and I saw one of your posts from a year ago (5/24/2010) that I had a question about. http://www.elitetrader.com/vb/showthread.php?s=&threadid=148752&perpage=5&pagenumber=412 In your notes for your "Long HGSI" trade, you state that what happend was "f'ing scary to me". I understand what happened, because you described it well, but I don't really understand why it was "f'ing scary to you".? If you can remember this trade from a year ago (?), can you describe in more detail why it was f'ing scary? I understand Sterling had problems that day, but scary? Where was the intense fear coming from? Thanks if you can answer! +-*/ Math_Wiz
how do you select equities? If you exit per model do you re-enter same equity more than once per day? Thanks
might have been a bit of a hyperbole. usually i don't step out of my house for very long with trades open. in this case i did and my stop didn't trigger. that's a little unnerving
i wrote my own stock scanner that watches 500 stocks for the setups i look for. i have no issues trading the same equity multiple times a day as long as it sets up