Worked on a new signal with NOV and RRI. I think I would have done better for the day if I would have traded other stocks based on the ending results but wanted to focus. Was up on RRI and due to some mis entries ended up working on it all day. - 4085 NOV + 204 - 3881 for the day + 1087 for the week - 31835 for the month 43,136 shares 1,448,514 shares / mth
Today worked out well. Not so many shares Stayed with the RRI short and scalped it for extra good measure. RRI cost me yesterday but waiting it out paid off + 4751 GE was a quick scalp. Wanted to short above 25.50 which would have been super great but Mr. Cox doesnt think the public should have the chance only his buddies at the specialist desk. Still did ok + 545 CPB for a scalp + 62 + 5359 for the day week month 38,636 shares
not sure a good day. working on a new signal and went a little heavy with the shares and it didnt work. Was worse but was able to scalp a bit more than 300 back NOC - 4678 PFG + 589 closed out IAR as it looked like it was going sub $1. PE is just crazy on it but walked away with a small loss - 57 HIG was just hammered today. bought during the close trying to scalp it and it kept moving. Was able to scalp some which shows as a loss. I dont think its going BK and its just panic. Its also the kind of panic that I think will see a bounce when the house passes the "welfare bill" - 279 scalped GTI + 7 - 4095 for the day +2351 for the week + 1264 for the month 38422 shares 77,058 shares /mth
man you obviously didn't learn your lesson with leh. your trading style is flawed to no end. you call yourself a trader yet you hold broken troubled stocks overnight which as you found out with leh is a recipe for disaster.you're attracted to troubled stocks like a fly on shit. unless you change your trading style you won't be around long. in case you didn't here a congressman said a big insurer is about to go bk. pray its not hig. take this as constructive criticism
^ Piggie, if you had any clue, you would know that 1Reason can trade. This is just a bad month, and he got caught on some bad trades due to the government intervening. He'll bounce back.
Good day today, started closing out HIG in premarket and was totally out during the first 20 mins. turned into one of my best trades in a long time. + 8672 Traded STI options + 710 shorted QQQQ based on my belief that the market would sell off after the bailout was approved + 425 scalped and traded CBL during the close and carrying over a short into next week +15 + 9822 for the day + 12173 for the week + 11086 for the month 11,322 shares 88,380 shares / mth
Hello Piggie, Thanks for reading my journal and taking the time to make a post. You are very right in that lessons do need to be learned when trades go bad and I think even when they go well you should try to learn something. In the case of LEH I didn't follow my trading rules and was reminded it a big way why I have my rules. While I maintain that it was a mistake for Paulson (the fed) to let it fall it wasnt may choice to make. Regardless the loss should have been smaller. I also have another one like it with the UAUA trade that falls in the same camp and LEH. I did learn a lot from both and in the future I think I will actually have gains that will more than make up for the tuition that I paid. HIG trade was based on a signal that I received and was comfortable with it for two reasons, One - I did not have a large position and two I it was oversold on the day before the bailout vote. I don't think you can get a much better setup for risk vs reward. I guess we disagree as to how often I will trade a troubled stock to the long side. I would put my long trades at about 5% of my total trades and I carry a long overnight about 1% or less of my total trades. I did hear about Senator Reid comments BEFORE I put on the trade but it was not a factor (after all it WAS Reid) Once again thanks for making a post and I hope you enjoy reading my journal Best of trading to you Bob
Hello JB3, Wow, thanks for the super kind words and encouragement. What did start out as a very good month turned into my worst. My goal now is to take what I learned from the price action and turn it into future profits Best of trading to you and have a great weekend Bob