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FB2012 Friday Stock Day Trading Journal
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FB2012 Friday Stock Day Trading Journal

  #11 (permalink)
Elite Member
Munich Germany
 
Futures Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker/Data: Interactive Brokers IQFeed
Favorite Futures: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 77 received

Great today i made two mistakes
1. i did not enter following my setup and was stopped out but my stop did not work so i had to exit market.
26 ticks minus.
2. I wanted to fight back and entered another trade against my rules to wait until the next day for trading.
So i am not allowed to trade tomorrow and must take a cold shower. Which resulted in 18 ticks minus

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  #12 (permalink)
Elite Member
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Tomorrow is Friday

For Tomorrow i have chosen the following candidates to keep an special eye on.

1. CLF as a potential breakout up because first it reached a ROC2 criteria and second it is a 1234 following Jeff Cooper so two patterns support a potential up. And second today intraday price action showed a higher low which could be first sign for a up move.
So if it can open tomorrow above the 15 min 25 average it is a buy from the beginning on.
2. LYB is in my opinion also a good buy because it made a continuation of its up trend and also made a continuation pattern within today intraday time frame. But i would it make a strong buy after it has touched the first time the 15min 25 MA.
3. HES shows a ROC2 in a extreme reading and also closed above the 15min 25 average, which makes it in my opinion a weeker buy opportunity.

As short candidates i count HD and its sister stock LOW both show reversal bars and HD even started a strong downward move today so i put them on short watch list.
APA is in my opinion also a strong downward mover. Because of the big pattern it made intrady, which could be seen as shoulder head shoulder formation.
On the opposite it shows a very low ROC2 which could make it a reversal candidate. Therefore APA is not as bearish as HD and LOW.

Right now i have three candidates on every side, for tomorrow trading that should be enought for watching in realtime scanner.


Last edited by FB2012; May 16th, 2013 at 05:44 PM. Reason: Detected some errors
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  #13 (permalink)
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Panic


First of all, today i traded my plan but after i realized that there was no
tick data displayed for clf i switched to 1 minute data which showed an actual price.
Because the price was above the 15min25 MA i decided to buy near the opening.
After some seconds i realized that the 1 minute chart was not moving, but
my P/L received by the broker was moving. So i realized there must be something wrong
indeed i closed my position because i want to avoid getting in trouble because
of a malfunction of my technical setup. Everything could have been the reason connection to
datafeed some internal bug in chart software. Ok i had luck today and realized a breakeven win of 8 ticks.

To conclude i will not trade on next monday which is a holiday in Germany but i will trade on my demo account
to gain confidence in to the now slightly modified technical setup.
I am happy that i only trade small sizes just to get familiar with handling such problems which seem to happen in
reality, but non during replay or papertrading.

On the other hand i followed my plan the stocks i picked, were correctly analysed. Even if the CFL buy was for today not profitable. But the LYB would have been if i would have waited long enough for the initial pullback during the first half hour of the opening. During the opening i decided to buy clf because as analysed i gave that setup more propability to play out.

To conclude i must not take a cold shower but there is still no reason to have a party.

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  #14 (permalink)
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I will trade tomorrow

I decided to trade even if i had a bad day on friday reagarding the technical
setup. I think it is fixed and therefore i trust the technical setup again.
Therefore i spotted the following stocks for tomorrow trading day.

1. BAX as a short candidate because it made more wide range bars in the last sessions.
2. HFC for a short trade when it opens near the 20 daily MA it can be a good short opportunity.

3. JCP as a long candidate because it made a very low ROC2 reading and therefore can advance in the next session.
4. JPM as a candidate for touching the 15min20 MA during the first half hour it also made wedge like continuation pattern to the end of last session.
5. HAL looks also like a good opportunity for a continuationit should play out by starting down testing the 15min20 MA and then continue its move up.

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  #15 (permalink)
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Cold Shower ?

Ok today i nearly fullfilled my plan.
I used HFC to trade for today. But i entered to early in short direction, which resulted in a loss of 20 Ticks.
Then i decided to enter again in the same direction but at a higher top, this resulted in a profit of 70 Ticks.
For the last trade i reduced the position size by one half.

Right now i made 8 trades and this leads to a DDRL respecting the last halfing of the position size of 0,95.
So it is still open to get better so i will just make a good job for the next trades and get that DDRL over 1.

For trading two times today i will have to take a cold shower.

P.S The DDRL formula is as follows :
(Number of wins / Num Loss)*averageWin/averageLoss*cumWin/cumLoss

When the DDRL is over 2 i am allowed to upgrade my position size.

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  #16 (permalink)
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Thanks: 81 given, 77 received

Today i will trade

Ok because on Wednesday a sharp decline has been shown for the S&P500
a correction of that was undertaken on Thursday. For today i see the S&P500
again in a weak rallye mode.

Therefore i will overweight the buy side.

1. C shown a ROC2 and a Rudd wide range bar Therefore it can be seen as a buy for today.
2. LYB shows a pattern following Jeff Cooper and also made a widerange but is not a strict Rudd pattern.
3. HAL a 1234er jeff Cooper and closed above the 20MA daily, which can be a sign for a big reaction upwards.
4. BA is also very strong it shown 3 patterns a slingshot a 1234 and a widerange bar. But it is near the 100 level
which will be a psychological resistance.

For the short side i have the following on my watchlist.
1. GG does not look very strong because of yesterdays bar i anticipate a continuation of the downward trend.
2. BHP if it opens near the MA 20 daily and this holds as resistance it will continue to move downward.

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  #17 (permalink)
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GG Short and stopedout

Ok i went short in GG,
but immediatly after that i was stopped out.
I managed to reduce the loss by adapting my stop to the technical situation.
Because it made sense to place the stop near the 15 min MA20.
So i lost 16 Ticks today. Therefore my DDRL goes to 0.706461.
Even if i have not yet traded 10 times after which i am allowed to adopt the position size,
it seems to me a good idea to reduce my position size, to the absolute minimum.
I have to think about that.

In my opinion it was a good trade, the setup was as it should be but it just has not worked.
Therefore i must not take a cold shower

This fact supports to wait one trade to make the decision to reduce or not to reduce.


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Last edited by FB2012; May 24th, 2013 at 11:35 AM.
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  #18 (permalink)
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Thanks: 81 given, 77 received

Today is Friday

For today i only spotted three candidates for trading,

DG as a potential short candidate if it touches the 50MA daily.
APA as a candidate for a short when the last high gets touched.
AMT because of the strong reversal formation yesterday it may stay in an uptrend

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  #19 (permalink)
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Concentration equal better Trading

Today i only concentrated on DG after APA has moved in my opinion too fast away from yesterdays high right after the open. AMT made a Topping formation, which i could have used for a short but i focused my concentration on DG.
I followed my plan and took a short trade at my predefined objective point. This turned out to be a winner making me 50 Ticks. This was my tenth trade and therefore my first DDRL is now at 1.6168 this means i can stay with my actual position size and must not reduce it.

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The entry and exit points on the chart are a little bit time shifted i exited the trade on the last displayed grey candle.
Which showed a choppy behavior. Therefore the long tail became a target. Because the price also was near the last high i thought it is the right time to exit.

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  #20 (permalink)
Elite Member
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Futures Experience: Beginner
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Favorite Futures: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 77 received

Tomorrow is Friday


For tomorrow i have the following stocks on my watchlist :

Short
1. GG is my favorite for a short entry target for the entry would be the 50 MA daily if that region is reached during
the first half hour it should be a good short.
2. CLF is the second for a short entry target for the entry would be the 20 MA daily if that region is reached during
the first half hour it should be a good short.

Long
1. AXP is below its 20 MA daily and made a reversal candle today so if it opens above the 20 MA it should be a buy after a succesful test during the first half hour.
2. I forgot KORS if the todays LOW is tested tomorrow it must be exactly reached it can be a good buy.

Thats it for tomorrow for the others in my list i have not found good trade ideas yet.


Last edited by FB2012; June 13th, 2013 at 05:42 PM.
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