puddles 2011 trade journal (formerly a 70k bet..)

Discussion in 'Journals' started by puddles, Jan 3, 2011.

  1. 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">
     
    #481     May 24, 2011
  2. oh, man, tight stop on RIMM saved your ass.

    kai
     
    #482     May 24, 2011
  3. yup.. slipped 3c on the way out..

    (i'm assuming you're referring to monday's RIMM loser)
     
    #483     May 24, 2011
  4. <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/
     
    #484     May 24, 2011
  5. oh, man, if you held RIMM a little longer, you would make a home run:D

    No, I was just joking. I am glad that you stick with your plan.
     
    #485     May 24, 2011
  6. Math_Wiz

    Math_Wiz

    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
     
    #486     May 25, 2011
  7. how do you select equities?

    If you exit per model do you re-enter same equity more than once per day?

    Thanks
     
    #487     May 25, 2011
  8. 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
     
    #488     May 25, 2011
  9. 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
     
    #489     May 25, 2011
  10. Math_Wiz

    Math_Wiz

    lol, thanks Puddles

    +-*/ Math_Wiz
     
    #490     May 25, 2011