Watch ideas: 05/23/2007 Long: http://www.ivicacharts.com/diagrams/2007/05232007wynn.jpg http://www.ivicacharts.com/diagrams/2007/05232007oi.jpg Short: http://www.ivicacharts.com/diagrams/2007/05232007sirf.jpg http://www.ivicacharts.com/diagrams/2007/05232007ed.jpg Ivica Juracic
Watch ideas: 05/24/2007 Long: http://www.ivicacharts.com/diagrams/2007/05242007pwr.jpg http://www.ivicacharts.com/diagrams/2007/05242007eln.jpg Short: http://www.ivicacharts.com/diagrams/2007/05242007nrf.jpg http://www.ivicacharts.com/diagrams/2007/05242007ori.jpg Good luck trading today!!!! Ivica Juracic
Just wanted to comment on this older post. Very good logic. Before i made some changes recently, I was losing money by not following such principles. Even if I knew a stock would breakout I was settling for trades with a 1:1 R:W and this was leading me to poor results. Very good way of putting it how one trade can cover 12 bad ones using such a philosophy. Most of my entries are pullbacks so in most cases, I use a 2:1 initial reward to risk. I guess this means that as long as I am right more than 25% of the time, I will make money because 1 trade covers 2 bad ones. Here's another question for you... what do you use to scan charts? I currently only trade interday so I use TC2000 and its cheap, but was wondering what you use for intraday setups. Sometime close to the start of the next school year I wil be trading very closely to how you are now... so want to get a head start.
Watch ideas: 05/25/2007 Long: http://www.ivicacharts.com/diagrams/2007/05252007praa.jpg http://www.ivicacharts.com/diagrams/2007/05252007lcc.jpg Short: http://www.ivicacharts.com/diagrams/2007/05252007rti.jpg http://www.ivicacharts.com/diagrams/2007/05252007itwo.jpg Ivica Juracic
Hi, I use Qcharts. For scanning, I use them too and after close, I go over all sectors manually to find what I like. I donât watch stocks under 200k average volume and under $5 price because I'm not interested for penny stocks. During trading hours I scan over % lists for strongest and weakest names, because I'm most interest on them. Here is my scanning and trading screen. Maybe will help you to see how that look. http://www.ivicacharts.com/diagrams/class/scanning screen.jpg http://www.ivicacharts.com/diagrams/class/tradingscreen.jpg Regards Ivica
Watch list for 05/29/2007 LONG: Swing possibilities (ST-PT) ANPI long above: 7.07, stop under: 6.75, target: 8 areas Next earning date: Aug 01, 2007 http://www.ivicacharts.com/diagrams/2007/05292007anpi.jpg Watch ideas: Long: http://www.ivicacharts.com/diagrams/2007/05292007ctl.jpg http://www.ivicacharts.com/diagrams/2007/05292007goog.jpg Short: http://www.ivicacharts.com/diagrams/2007/05292007celg.jpg http://www.ivicacharts.com/diagrams/2007/05292007ggp.jpg Good luck trading today!!!! Ivica Juracic
Ivica, just discovering your wonderful journal here. Thanks a lot, I am much more of an investor in longer term holds but I would like to become a better trader and you have laid out so much of what it takes to be a better trader. Your comments regarding ONLY taking trades you're confident in and not overtrading are especially useful for someone like myself who loses when he overtrades. Thanks and keep up the great work. I noticed in an earlier trade that you were using manual scans to find stocks. Is that still true?
Yes, that is true. I do all manually. I have some shortcuts, depends on day. However, every day I spend few hours with scanning. I trust only to myself. Had before scanning software, but it is closed now and I didn't what I like and what can be fast as I want. Regards Ivica
Watch ideas: 05/30/2007 Long: http://www.ivicacharts.com/diagrams/2007/05302007dri.jpg Short: http://www.ivicacharts.com/diagrams/2007/05302007rti.jpg Good luck trading today!!!! Ivica Juracic