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FB2012 Friday Stock Day Trading Journal


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FB2012 Friday Stock Day Trading Journal

  #51 (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 will have to stop trading this month

because of time problems with my main job, it will not be possible to commit enough effort into trading in this month. Therefore I have to stop trading on fridays for the rest of the month.

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  #52 (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

Stoping until end of October

I still have to much work in my job, therefore it is necessary to stop trading in october, too.

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  #53 (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

New Year 2014 lets start again


however, I will reduce my pre analysis posted in this forum.
Therefore, I will post only symbols, which I think will deliver a possible entry.

For tomorrow those are:

long potential
BA,LVS,CRM
Short potential
KORS,APC,VLO

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  #54 (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

Old habit still present :-(

However, my entry was too late, i think multitasking is just a hard thing to do for me.
I entered on seeing a up gap and a continuation pattern. The high of last day was primary objective this was reached during the first half hour of trading, therefore I quit the trade after i realized that my stop was to far away.
I have done a mistake and corrected it, anyway afterwards it would have been the better decision to stay longer.
Conclusion i have to improve my scanner routines to fetch such a pattern faster.

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  #55 (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 will start blogging again

During the last months I tried to trade almost every day.
This made me learn a lot of things about trading stocks and my approach.
Therefore, I decided to start journaling at bmt again, however I will try to focus on two days in the week.
I will stop greying out my position size, it is just too much work for me and I think I do not have a benefit positing
pics with greyed out position size. I will not post them at realtime, so I can focus much more on trading.
I will post them afterwards.

During the last months one interview with Roy W. Longstreet, Interview Roy Longstreet, which influenced me not to try to fish bottoms or catching tops, but instead entering maybe a little bit afterwards when the formed top has been built and gets retested again.
This ensures a higher percentage of winnings I think.

Roys main statement made in the interview was to focus more on possibilities not on probabilities,
I think this is a very flexible way to state that the stop location is very essential so stops should be placed as tight as possible.

All that led me to the conclusion that I have to get more patient and avoid entering during the first half hour.

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  #56 (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

Just another day

Last Friday was just another day, I got out with a plus.
However I could have been traded better, if I had kind of a magical foresight to the future.



My first trade was long in MPC with only a small position size accounting for the high expected average true range
in the minute chart. However I closed it with a tiny win. Having seen that previous price action I could not
imagine it will go up for long. This was maybe to early but a short play would have been the better trade for that
stock on friday afternoon.

Second was a long trade in HES closed my position during a high volume bar formed. It was nearly at the top of the day.
So good decision to close out.

Third was a trade in CRM a small consolidation formed near the open of the day I expected the previous up move to continue, therefore I opened a long position. I closed it in my first target zone after a higher volume bar was formed. It was nearly the high of the day.

The fourth trade was a bad one . I have seen that BA was in a strong resistance area and had to go short after
I discovered the top to lately. The wiser play would have been to enter in the test of the actual high of the day.
Even if I missed the trade it would have improved my CRR (chance risk ratio) and that is the most important task. Ok, trade didnt run as expected so I had to close out with a tiny win ( can be considered as Breakeven)

The fith trade was again made in CRM this time I have seen a top forming, when such a top forms during the first half of the day it can be a good idea to go short.
I had the same problem as in BA got in too late, I could have saved a few ticks during the top was building.
Also I closed out with a small win almost Breakeven.

Next one was again in BA this resulted in a loss in my opinion it was just against my rules to enter there.
This was a stupid trade.

The last one: Idea the consolidation line which had downwared directed highs will result in a breakout to the bottom. It did break out and I was able to have a winning trade, however the open of the day acted as support and I closed the trade with a small win.

Summary I have had some problems on friday with my lets call it health.
I have not got enough sleep the day before and after the first CRM trade I felt not so fit.
Therefore, I decided to use a smaller position size expecting a higher error rate on the execution side.
I think that was a good idea. However, getting good sleep will be my major target for the next days.

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  #57 (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

Pictures are hard to see

One short about the picture, the exact figures of entry and exits can only bee seen when the picture is copied to
a photo or graphic program. However, I will not change the figures making it too cumbersome keeping the journal.

I apologize for the maybe bad quality of pictures displayed in the browser.

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