Taking Names and other things of that nature...

Discussion in 'Journals' started by Builder17, Dec 7, 2010.

  1. starting an equity trading journal. last journal was more about options, and if i learned anything, it was that my trading should probably be relegated to equities, unless i enjoy blowing up. which i dont...

    basically looking to put into practice the lessons and the patience i believe i've been learning recently. attempting to put my ego aside as well, which thus far has been a monumental task. geez, i mean look at the title of this thread.

    my trades are based on TA. i don't plan (right now) to hold overnight. i believe my targets and stops should be met intraday if done correctly. hopefully i will recognize i'm doing something wrong if that begins to happen and the justifications start rolling out of my mouth as to why im holding overnight. historically, this has not been the mark of my winning trades.

    i also believe in only trading a couple of stocks at a time, and becoming an expert (assuming that's possible) day in and day out of how those stocks move. this journal should not end up reflecting the moves of a person who overtrades (I'd like to think I'm well past that). This journal will hopefully be a lesson in ass kicking (hopefully not my own).

    any input is welcome.
  2. short APC 70.25
    target 69.7
    stop 70.45
  3. stop to b/e.
  4. decided to get out 69.95 (came within .05 of target and bounced).
    wait for another set up

    EDIT: I believe most of what i'm looking for should occur within a couple hours at the most. It tests my patience to baby sit these trades, and what i'm looking for is usually determined by 15, 30 and 60 minute charts, so I want to be right (or proven wrong)within those given time frames.

  5. ouch. APC sold off to below to 69 into the close. knew this was possible on the daily chart. oh well.
  6. been busy with holidays and travel, and doing year end business things. hoping to get some good trades in soon.

    -definitely believe correction in indexes is coming. whether or not SP runs up 50 more points before she falls 200 is another question.
    -believe GLD hits 126s this month (prob fills gap at 138 first)

    goals for this year:
    -be patient
    -stick to plan
    -dont be stupid with leverage
    -be less greedy
    -no holding overnight losers
    -find a quality girlfriend. BOOM.

  7. ok, kinda horrible at updating this journal. first weeks of year have been more or a less a wash. getting stopped out here, making a little money there. actually, pretty sure i have more losers than winners right now, but am slightly positive, so cant complain.

    basically been trading SPY, APC, JPM, F, and BAC.
    worked some options last week (OPEX happened to be a nice week this month). was long ITM puts (15 strike) in BAC (basically from 14.30s) which were exercised over the weekend, that I covered today near the close at 13.93. they will probably gap down tomorrow!

    waiting to see what happens in SPY. especially with State of the Union and FED meeting. perhaps they keep it up for at least one more day. (clearly I believe more downside is in the cards)

    actually believe swing shorts are getting to be a good position in APC and JPM. and want to target their lower gaps. but will prob continue to day trade - unless i dabble in options - which was not my plan originally, but actually believe i am more disciplined right now than ever (based on the last 3 weeks) and wont shoot myself in the foot with overleveraging. so we shall see how that goes.
  8. currently short JPM through (long) puts (44s) and some equity.

  9. obviously not a fan of the reversal e.o.d.- tomorrow is important and could go either way. will consider cutting near break even tomorrow, as bouncing here today gives Jpm breakout (long) potential, plus i had first possible support on weekly arond 44.3. effing dojis!
    #10     Jan 25, 2011