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Day Trading Stocks with Discretion
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Day Trading Stocks with Discretion

  #271 (permalink)
Elite Member
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Day 29 on Sim, May 10, 2013

4 Trades: 1 scratch, 2 losers, 1 error. Net, -$102.

Slump goes on.

Trade 1 Trade error, stop triggered immediately. Was playing off of a test of yesterday's high. Stock opened a little higher and bounced twice off HOY, so got short, but jut paid the bid-ask for 4 seconds of trade.

Trade 2 Got into the same trade 2 minutes later. Stopped out pretty quickly.

Trade 3 Got long as a last dictched effort to catch a complex pullback. Didn't play out; scratched out.

Trade 4 I am always chasing that end of day reversal after a run up. Break out set up. Had two chances to get out at BE. 1 I correctly let pass, but the second, I should have been out. Closed out just before the bell.


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  #272 (permalink)
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Day 30 on Sim, May 15, 2013

3 trades: 2 winners, 1 loser. Net $333.

Losing streak is off. Hallelujah.

Trade 1 Lucky trade. Easily one of my best and it is an outlier. Set up is a standard pullback. Entered as price crossed the EMA21. Only 1 cent of heat, and only gave up 12 cents of drawdown at the end. Price was at the top of a multiday bullish channel. Jumped there. Wish I could count on more trades like this, but they will be few.

Trade 2 Another pull back. Stop was outside EMA21 and recent swing low. But price dipped lower than expected. Shaken out. Price went on for another 5R. Ugh.

Trade 3 Countertrend trade. Price had falied to push lower for 10 minutes. Got long. Price also failed to push higher, got out.


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  #273 (permalink)
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Equity curve through day 30


Dark line is net profit, lighter line is gross (pre-comission).

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Last edited by bijeremiad; June 28th, 2013 at 08:12 PM. Reason: anotate chart
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  #274 (permalink)
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Any idea why there is a larger discrepancy between gross profit and net profit for the most recent drawdown in your account?

Edit: Looks like the trend started after the first recovery now that I relooked at the graph

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  #275 (permalink)
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Bermudan Option View Post
Any idea why there is a larger discrepancy between gross profit and net profit for the most recent drawdown in your account?

Edit: Looks like the trend started after the first recovery now that I relooked at the graph

Not sure I follow. The gross/net graph looks like I would expect it to.

At the most recent peak (after trade 71) Gross profit is $569, net profit is $417, a difference of $152, implying at round trip commission of $2.14.

Then at the trough of the draw down, (at trade 112) gross profit is -30, net profit is -$268, a difference of $238, implying a round trip commission of $2.13 over 112 trades.


Last edited by bijeremiad; July 1st, 2013 at 01:39 PM. Reason: spelling
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  #276 (permalink)
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Day 31 on Sim, May 16, 2013

5.5 trades: 3 winners, 2.5 losers. Net -$24.

Trade 1 Test of yesterdays low. Price had been bobbling along near yesterday's low. Price approached the EMA21, I got long. Taken out quickly. Move on.

Trade 2 The price put in a small hanging hammer right after I got stopped out. So i got long again. But price did not hold above the EMA21 as expected. Got out for 0.7R.

Trade 3 I got long 1 more time off a bounce from yesterday's low (why such conviction in a reversal?). Trade error. Stop was set improperly to trigger. Ironically I only lost 0.3R instead of 1R, had the trade been set up properly.

Trade 4 I finally get my short head screwed on straight. I get short after the first (kind of second) pullback after breaking through LOY. Price actoin is supportive, I get a nice tight channel down. I like how things are going so much, I add to the winning trade.

Trade 4.5 Bad timing. I add to the short, after moving my other stop to break even, so max risk remains $40. But get stopped out, with a little slippage. Price then goes to move on 10R on what could have been a double position. That would have made my month. No such luck. Should have waited for more of a pullback.

Trade 5 I was so angry about getting stopped out, and so sure that i was right, that I jumped back into the short. I was right. Price went 4.5R in my favor. I was going to let this one run. Then it put in a hanging hammer and retraced, and retraced with some big volume bars. I got scared and punted for 0.6R. Price then went on for another 10R. Ugh.

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  #277 (permalink)
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Day 32 on Sim, May 17, 2013

Four trades, 1 scratch, 3 losers; net -$124.

Trade 1 Bullish open to the day, grinding higher. Price breaks above a key level from prior days. Wait for the pullback, get in minimal heat. Price heads back up. Then it stalls. Twice. Big bar down the second time, another key level just above the highs. Two more strong bars down and I worry. Scratch out. Original stop would have been honored but market looked like it had changed - trend line was broken.

Trade 2 In fact the long tail that followed just after confirmed my suspicion that things were weakening. Got short. I should have been a little more respectful of the trend. Four bars with no progress down, then price breaks higher. I get a little emotional at this point as evidenced by my flipping out of my short right into a buy.

Trade 3 When are flips ever unemotional? I don't have any patience for market signals that I might be wrong. I jump out when price gets half way to my stop.

Trade 4 But wait there's more I switch directions again. Long -> short -> long -> short with only 11 minutes of out-of-market time between the last three trades. And I take 16 cents of slippage on my exit. Classing sign of over trading. Ugh.


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  #278 (permalink)
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Day 33 on Sim, May 20, 2013

Three trades: 1 winner, 2 losers; net -$86.

Trade 1 Break the high of the day on strong move up. I wait for a pullback to the EMA21 - even a little confirmation. I am long. Price plunges below the EMA and even below the HOY. I am stopped out. Great trade, would do it again. Just didn't work this time.

Trade 2 Don't recall why I missed the second pullback, but I caught the 3rd. That should have put me a little on edge even though I was with the trend. I see three pauses in the push higher, recent swing high challenged and fails to break. I get out of part of my position at the EMA21, the other half after the break of the trend line.

Trade 3 One more lower high since the last failed push past the HOD and I think structure has changed. I get short. A little late, but short. I take some heat, and then I get a good push in my favor. Price pulls back and then bobbles right at my entry point for 6 bars! Why do I have to take a full stop on a trade like this? Should have seen the trading range for what it was...


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  #279 (permalink)
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Day 34 on Sim, June 18, 2013

Month or so has passed... Journaling and filling out trade sheets takes time. I got behind, had to reacreate some data, kept putting it off, so I didn't want to fall further behind. Stopped trading. (as you can see from this journal I am still catching up some).

3 trades: 1 winner, 1 scratch, 1 error

Trade 1 Bullish open, price grinds higher, then a big 22.5k volume bar forms a doji. 9 consecutive bars close lower. Price struggles around a key level from prior days. Swing highs are lower. I get short. Push lower but no prior lows broken. Then a strongish bar closes back up above the EMA21. I jump out for scratch.

Trade 2 I am waiting for the next pullback. Get a fantastic price. But I had been stalking for so long that my price target was lower than my entry point by the time I pulled the trigger. Instantly pulled out of the trade.

Trade 3 Still liking my position, and price going in what should have been my favor, I jump back in long 1 minute later. I exit as price stalls after reaching a key level from prior days. Nice, simple 2.5R trade.


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Last edited by bijeremiad; July 5th, 2013 at 09:21 PM. Reason: forgot attachements
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  #280 (permalink)
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Day 35 on Sim, June 19, 2013


3 Trades: 2 winners, 1 scratch. Net $123.

Trade 1 9 bullish bars in a row. I hold my nose and buy at the break of the high. I don't like it, but I can't deny strength when I see it. Price pauses for 5 bars. I bail for a scratch. My stop would have been honored. Price went on for 1R. Not missing too much.

Trade 2 I was waiting for a PB given how strong the first push up was. Got a little anxious and in early. Stop held. Got out on price weakness near the HOD.

Trade 3 Third push just barely becomes HOD, but we are in a trading range maybe. Maybe in a trend. I get short. Only 1 pullback, and the price goes on for a 1.9R trade. I got out at the first signs of price curling back up. I always hope for that break out. This was a trading-range trade at best, counter trend trade at worst. Be happy with 2R.


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