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Day Trading Stocks with Discretion
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Day Trading Stocks with Discretion

  #141 (permalink)
Elite Member
San Francisco, CA
 
Futures Experience: Beginner
Platform: IB
Favorite Futures: Stocks
 
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Posts: 410 since Jul 2011
Thanks: 283 given, 325 received

Equity curve, as of September 7, 2012

Equity curve as of 9/7/12. Negative for the week, but losses were small. Still around to trade next week...

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Day Trading Stocks with Discretion-equity-curve-sep07.png  
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  #142 (permalink)
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Thanks: 283 given, 325 received

Watching VFC in real time, September 10, 2012

2 winners, 2 losers. Net $66.

Trade 1 was a pullback off the EMA21. Could have been a little more aggressive with my stops, but $156.16 was the 52-week high, so if price broke above that level, I wanted to be long. So I gave it some slack and was stopped out.

Trade 2 was another pullback off the EMA21. Tried to put on a tighter stop and was taken out 2 bars later.

Trade 3 was still another attempt to be in position for a break above the 52-week high. But after it failed to make the push once, I was on the look out for an exit. After a second failed push up, I was out the next bar.

Trade 4 was after the brief push above the 52 week high. But I was also nervous being short for a complex pullback with a push back to the highs, so after one push up, I moved my stop down, per my usual risk management practice. Was stopped out. Price ran 5R in my favor, never got back in. I watched for a few more bars and had high limit orders (in pruple) that never got touched. Focus drifted to other things after that.

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  #143 (permalink)
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Thanks: 283 given, 325 received

Watching VFC in real time, September 11, 2011


1 trade. Net $272.

Trade 1 was after a close above the EMA21. I hesitated on exit a couple times during the trade. Once at 5R. Once at 6.5R. And once at 8R. Ended up getting out at 6.8, so didn't give up too much, and let the winner run past where I thought about getting out before. Good day, either way.

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  #144 (permalink)
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Posts: 410 since Jul 2011
Thanks: 283 given, 325 received

Watching VFC in real time, September 12, 2012

1 winner, 2 losers. Net $78.

Trade 1 was a pullback off the EMA21, looking for the prior trend to continue. After two "deep" pullbacks near my stop and two higher lows, I abandoned the short for BE.

Trade 2 was a bit of a chaser for me. I was and should have continued waiting for price to pull back but became anxious as price continued to trade higher after reversing from the prior downward trend. Full stop was hit in 15 minutes.

Trade 3 right in the middle of a long consolidation period. I was very close to bailing out of the position around 12:15, but price continued to fail to push above 156.15. I jumped out with just 9 minutes left until the market close.

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Day Trading Stocks with Discretion-201200912vfc.png  
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  #145 (permalink)
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Posts: 410 since Jul 2011
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Watching VFC in real time, September 13, 2012

1 winner, 2 losers. Net $180. Fifth positive-day streak, which has not happened before.

Trade 1 was a breakout trade - too late to be considered a pull back. Price had made a large push up, tried to catch a continuation of that push. After two failed pushes up, I exited on a stop for a small loss based on a prior swing low point.

Trade 2 was long after price crossed above the EMA21. Looking for price to continue up. After almost $0.80 in my favor, decided to exit at BE. This was giving back a bit much, but Fed announcement was coming up and price did not seem to be moving higher as expected. Probably should have taken a small profit around 8:30.

Trade 3 was after the announcement. Large push up at 9:30; price traded back. I took the break out above the initial push. I would have liked to be long 200 shares with a $0.20 stop, but volatility had been high all day, so I only had 100 with a $0.40 stop. Was patient ratcheting my stop, which meant I ended up giving back a bit on the final pullback, but didn't get shaken out on the run up. I should have been suspicious of the push up at 11:24 as a signal that perhaps things were coming to an end, but I thought the trend was coming to an end $1 ago. It was a 5R trade, can't complain.

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Day Trading Stocks with Discretion-201200913vfc.png  

Last edited by bijeremiad; September 17th, 2012 at 09:40 AM. Reason: added thoughts to Trade 3
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  #146 (permalink)
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Watching VFC in real time, September 14, 2012

3 winners, 2 losers. $216 net. Sixth day of consecutive positive days.

Trade 1 was a pullback to the EMA21. I really thought about bailing at $163, since my entry was $163.20 with a $0.20 stop. But the bid held $163. I added a penny to my stop, and pulled out, but price did not clear the previous high. After taking heat I was quick to jump (which would later prove to be a mistake, first trade was the best trade of the day).

Trade 2 was a short after price tested a previous intraday swing high point. As I penciled in the trade, I knew it was countertrend. I thought I would just hold it for $0.20 and scalp it, but after price put in another higher low, I began to worry about fighting an uptrend. I put my stop at $162.61. And then I reversed a few pennies later.

Trade 3 was a flip. I do not like flipping positions, but I was fighting the wrong trend. Already up for the day by a healthy move, I set a price target $1 higher. After failing twice to push past $163.50, I bailed. That was early.

Trade 4 was catching yet another bounce off the EMA21. Getting late in the day and already seeing price up for the day I was feeling nervous about a continuation of trend. I jumped out early for a 2.5R trade.

By Trade 5 I was getting a little overconfident. I tried to catch the bounce off the EMA21 early rather than waiting for a confirmation that price was moving up. I got run over. I wasn't even watching when the final bounce came off of $163.50.

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Day Trading Stocks with Discretion-201200914vfc.png  
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  #147 (permalink)
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Posts: 410 since Jul 2011
Thanks: 283 given, 325 received

Equity curve as of September 14, 2012

This week puts me up 5.05% for the three weeks of this month. That gives me a chance to do better than the ~5% averaged over the last three months. We'll see what next week brings.

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  #148 (permalink)
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Watching VFC in real time, September 17, 2012

1 loser. net $0. Frustrating day, could have easily been a $200-400 day, probably closer to $200 because the ATR5 was fairly elevated through out the day, so I only would have been long or short 100 shares, but some clean set ups. I just wasn't watching at the right time.

Trade 1 was a long after three failed attempts to push beyond $161.50. Once in I watched price move in my favor, retrace to take some heat. Once price moved back into positive territory, I moved my stop below the recent swing low. Price came back towards my entry and I bailed at BE. It would have been an "easy" 4R trade from that point on...

There was also a nice retrace to the EMA21 at 7am, would have been good for 2.5R.

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  #149 (permalink)
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Thanks: 283 given, 325 received

Watching VFC in real time, September 18, 2012

2 losers, net -$80.

Trade 1 was a break out trade. Price had already traded down far ($2.50) for the day and price was about $0.50 off the 21EMA already. Just about caught the bottom (not a good place to start a short). Stopped out 6 minutes later.

Trade 2 a bounce off the EMA21, but not really with trend. Ended up being minutes away from the top (not a good place to start a long). Stopped for the day.

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  #150 (permalink)
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Posts: 410 since Jul 2011
Thanks: 283 given, 325 received

Watching VFC in real time, September 19, 2012


4 winners, 1 loser. Net $186.

Trade 1 was after a strong move up, intended to be a quick scalp and then look for a channel after the spike. Got out at my price target 1R lower. Had more to go, but stuck with plan.

Trade 2 was after a pullback that did not breach the prior low. I was suspecting an upward trending channel. So I sat through a complex correction and got a mediocre trade, would have been nice to get a runner, but these small profits are the price of waiting out for the longer runs.

Trade 3 was off the bounce of the underlying trend line (yellow), still a possible complex correction, as the prior low had not been violated. Traded sideways for 30min and bailed at BE.

Trade 4 was after a failed push higher. Price had seen 3 lower highs at this point, a long sideways consolidation, so i went short. Had a nice quick run. I thought price would channel down, but did not consider a sideways trend. Gave back some, small profit.

Trade 5 was a test of $161.75. Got short after price failed to challenge the level again. I was very conflicted at 12:30 over wether to hold out for more momentum (there was only half an hour left) or get out at the previously respected support level. Got a second chance and got out at support on the second test.

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