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Sunday, July 31, 2011

1st ever perfect day, 10 for 10. Here are some highlights, but my classic learning problem still poses threat!

AMZN long and short, success as both winners but so much to learn, re-learn, and learn again on letting winners run.

BIDU felt i was chasing it but worked well

YHOO daily support around 13, small bounce though

And finally FTNT and an example of my struggle to grow: HOW TO LET WINNERS RUN, HOW TO NOT LET WINNERS TURN INTO LOSERS, AND HOW TO NOT GET STOPPED OUT ON NOISE WHEN A WINNER DOES GO AGAINST YOU TEMPORARILY??????

Thursday, July 28, 2011

Kicked Ass today, over achieved daily goal by 200%

SOLR, long off open and got stopped out and took eye off the prize.  Lesson: give 10 minutes of breathing room.

SINA long and got stopped before huge rip

SODA short worked out perfect as planned

FCX long good R/R

WLT final trade long but took off too early

Wednesday, July 27, 2011

Got chopped up early, dug my way out to positive

GS Long off open and it slapped me.  Net loss

LVS Chopped my ass up, total rookie mistakes and spent rest of day digging my way out.

AMZN short took for +1 although target of +3 was ultimately hit, just didn't stay patient.

NFLX long worked but same issue, letting winners run. STOP TRADING SCARED WITH WINNERS

Tuesday, July 26, 2011

Great day as let a few winners run for bigger gains then usual

Took CMI short and forced myself to let to let it run more then usual and pulled out some decent gains.

And took CRM long on a great fill but took off WAY TOO EARLY AGAIN.  Took only +.5 where potential of +3 realistically.

OCR short failed and stopped me out.  However when trading this style, i've found TO ADMIT WHEN WRONG AND REVERSE ON A BREAK OF INTRADAY HIGH!

Monday, July 25, 2011

Ish levels

For the $SPX this 1340-1350 ish area is some fantastic resistance, break that and tally ho!!  As for the downside 1250-1260 ish area is some fantastic support, break that and everybody gonna scream "it's just like '08...told ya so".  I know 80-100 SPX points is some decent movement but on a macro scale, we've been consolidating all year in a BULL cycle market since 09.  It's great to be "quick and nimble" as Vanilla Ice used to claim, but for longer term traders, it's been a swinger (3-7 day) market.  Best edge i've found is scalp intra day, when get some cushion, keep a little skin in overnight for bigger moves.  We're still above the 200 SMA but the trading around the 50 SMA has just been too noisy.  I'll keep trying methods while in this range for hit and runs, but am still showing a fear of commitment like all my ex's used to say...

Still exiting winners too early

Like POT off open as ripped up, only had a +.20 target, need to take off 1/2 and let winners run as left +1 on table

1ST short stopped out (good stop) and attempted again.  Great idea however took off as started to lose profits instead of letting stop and target take me out!

Another short on the day that took off too early

Friday, July 22, 2011

Wednesday, July 20, 2011

Another loser day, but great lessons, paying for education

Looked strong off open, got long, took loss and moved on instead of setting an alert to get me back in

Took this long and had tight stop, but again didn't re-enter.  Maybe i need to work on taking 1/2 positions and adding to strength?

Then missed the 1st bounce short, chased it and got stopped out for -.50 as i didn't like all the shadows underneath.  Don't anticipate trade, wait for the stock to lead!

And finally tried shorting a STRONG stock in a weak tape, not good R/R

Tuesday, July 19, 2011

Terrible Day, Let Stops take me out

Had several losses today but this one should have been a gain and not a loss.

And the trade i should have taken, but didn't want to chase and pulled my bid "just in case the bottom fell out" would have been a winner.  Does this make it ok to chase in future???

And finally SWK great entry on short, had target but pulled out early.  LESSON LEARNED FOR TODAY, LET WINNERS RUN BECAUSE 1 OUT OF EVERY 5 OR SO JUST KEEPS GOING AND ERASES OTHER 4 LOSSES ON DAY!!

Monday, July 18, 2011

Monday Hit Daily Target Goal

FCX first trade, showed rel. strength so took long.

X 2nd trade short

FSLR final winning trade for a bounce as 1st try stopped out, 2nd attempt hit daily target goal so quit for day.

Saturday, July 16, 2011

Mentors

I would have never entertained the idea of "going" public for transparent educational purposes if it wasn't for the selfless others that post so that I (among others) can learn from their mastered trades...as well as their mistakes.   I thank @gtotoy @traderstewie @HCPG @chessnwine and @joeyfishface to name a few.  Thank you for what you guys do and explaining your trade so a knucklehead trader like me can even get it.

Surcoming to the world of Blogging

Going to be posting my "Coming To" Daytrading story in hopes of staying disciplined through keeping transparent records.  This was a great short on Friday
The work of this blog is for one man (me) to be transparent in holding oneself accountable, whether win or loss, on a daily basis.  My goal is to take an account, hit a daily goal of .05% gain each and every trading day, in hopes to achieve growing my account 100% in 1 year.  I am now 6 weeks into this trial and continue to get better and better.  I doubt anyone will follow along but if anyone else can learn from my blunders, then this Blog will serve twofold.