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FB2012 Friday Stock Day Trading Journal


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FB2012 Friday Stock Day Trading Journal

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  #41 (permalink)
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

Today I followed my setup for WMB, but it was just the wrong setup.
And therefore I took a small loss of -5 Ticks.
Nothing else to say, the other setups would have been profitable e.g. LEN if traded
after the bullish gap up. But my setup for that was a test at the previous low.
Also AMT performed bearish.
APC would have been a very short lasting short.
APA did not tested its previous high during the first half hour therefore no setup.
CAT would have been a good buy setup beacause it nearly tested the low of previous day.

Both Rudd setups failed.


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  #42 (permalink)
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

For tomorrow I have selected a very short watchlist.
I also decided to be allowed to reduce position size to one half my base position size,
in case I think there can be two setups traded.
Therefore I decided to trade a maximum of two setups with one half the base position size.
This should enable me to generate more trades and therefore have a higher statistical significance
for calculating my objective criteria.


Long
BA target of entry should be around 105,4

Short
  1. APA entry target should be the violation of the high around 83,27
  2. CAT around 84,6
  3. KORS entry target around 72,2

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  #43 (permalink)
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received


Yesterday I traded BA during the opening and managed to get 30 Ticks out of that.
I know it was not at my target time, but this was planned. Because I have done a review of my entry time strategy.
This showed that most of the time high and lows are made during the first 10 minutes.

The second trade was made in CAT and delivered a loss of 20 Ticks.
Both trades were made according to my plan and therefore it was a good day.

BA


CAT

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  #44 (permalink)
Munich Germany
 
Experience: Beginner
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Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

therefore I will do trading.

Today I picked the following stocks for my watchlist.

Long :
  1. LVS is neart its MA20 daily which may hold as support delivering todays low
  2. AFL it is the same setup as LVS

Short:
  1. ETN is near its MA20 daily which may hold as resistance delivering todays high.
  2. APC same as ETN
  3. BHP is in a 4 day upward trading range, if this is tested at the upside or broken at the downside it can lead to a good short trade.

For the overall market I would expect a downside bias for today. Therefore shorts are preferred today.

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  #45 (permalink)
Munich Germany
 
Experience: Beginner
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Today I made two trades.
BHP failed after I started the trade too early.
1 bar after the open is not ok, I think a cold shower for that is adequate.

The second one was ETN. This setup was not correct but I traded in the short direction after ETN made a break
through the MA 20 daily.


Result were 40 Ticks plus.

For tomorrow I have the following setups.

Long :
  1. LEN If it breaks through the MA 20 daily it should be a good buy.
  2. JNJ can test the MA50 daily and result in a fast up move.

Short:
  1. APC can test the MA20 again and build the daily high after the open.
  2. BA broke today through the MA50 daily, tomorrow a retest can happen and result in a down move again.
  3. CAT can test the last high which can result in an sell off.

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  #46 (permalink)
Munich Germany
 
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First i entered into APC but that just turned up after my short entry.

After that I entered LEN this was a good entry, but I started to get nervous after the first
retracement was made. I exited at the bottom of that my initial stop would have triggered at that time.
Therefore wrong decision to exit.


Consequences of that day. I think it is a good idea to wait until 10 minutes are passed after the open.
Second consequence is, I have to wait until my stop is trigger and that should be done even by
hell and high water.

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  #47 (permalink)
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Two long setups and three short setups for tomorrow.

Long :
  • HFC Made a triangle this can lead to a breakout to the upside tomorrow
  • LEN made two higher bottoms and today was a consolidation type day. This can lead to a breakout to
    the upside tomorrow.


Short :
  • APA had a up move of three bullish bars and this could lead to a down day tomorrow.
  • APC Is between its daily MAs and therefore test tomorrow the MA20 this would be a good entry point.
  • JPM is in a downward trend and built a triangle today this can lead to a breakout to the downside tomorrow.

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  #48 (permalink)
Munich Germany
 
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It is bad that I have to trade on friday, it was always my down day.

Ok anyway first I mixed the setup of LEN my system said it should be a short but I prepared
for a long.
When I realised that the move was a way to long but I entered because I did not want to miss the move.
Because this was an error I exited the trade immediatly afterwards.
The first trade I done today was APA it also resulted in a loss. It was also a short.
And then violating my rules again I entered another short trade into APC this resulted in an loss too.

Today I lost 64 Ticks today. Nothing to say anymore about that. It was a very bad day.
Right now I done my 9 th trade in the current calculation round for the DDRL.
It seems that I will go below 1 this time. Therefore the next friday I will be allowed to trade only one trade.
After that I will calculate the DDRL and decide what to do next.

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  #49 (permalink)
Munich Germany
 
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Posts: 149 since Aug 2012
Thanks: 81 given, 82 received

all the last days should be forgotten.

Short
  • LEN Stopped its rally today near the MA 20 therefore this is a good level to enter a short trade tomorrow.
  • JNJ Is in a downward trend and formed a continuation pattern by two dojis. If it touches the previous day high this is the entry point
  • COF Same as JNJ
  • IP Built a downward trendline the previous day high is the target for entering the Short trade

Long
  • HD is in a short up trend it reacted today and may start a rally neart todays low.
  • APC is in the same situation as HD but is above both daily MAs and therefore maybe the better trade.

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  #50 (permalink)
Munich Germany
 
Experience: Beginner
Platform: MultiCharts .NET,MultiCharts,Amibroker
Broker: Interactive Brokers IQFeed
Trading: Stocks,Index CFDs
 
Posts: 149 since Aug 2012
Thanks: 81 given, 82 received


I think it is maybe a good idea to stop trading, for the next two fridays.

Yesterday I was focused to do a long trade. This was maybe a bad idea from the start because the holiday on monday may have attracted selling. But I have not considered that before, I also have not considered that the S&P500 was in an short sale mode following my system. Therefore the overall broad market was not considered as well.

I have done two trades one in HAL and one in HD they resulted in an overall loss of 31 Ticks.
HD was done after the loss in HAL therefore I used a reduced position size of only 20 shares.
This was done because with the loss in HAL my DDRL was fallen below 1.
Therefore I had to reduce the position size in an extreme way.

After that I will continue to trade on friday with highly reduced risk leading to odd lots. This enables me only to practice but there is no potential to earn any money. I decided to use a size of 20 shares. Using a profit target of 40-60 Ticks this leads to a potential win of only 8 or 12$. Therefore I can still be break even. In case my overall objective the DDRL is after 10 trades again above 1 I will go back to round lots.

For the next trades I will use predefined setups but I will also use my RT scanner to find setups in realtime.
Therefore there will be trades, which have not been discussed the day before.

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May 4, 2014


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