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FB2012 Friday Stock Day Trading Journal


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FB2012 Friday Stock Day Trading Journal

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  #1 (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

Hello I decided to start a Trading Journal at futures.io (formerly BMT) because i think it is a good way to keep discipline about journaling and staying on the right track. In the following i will describe a short trading plan.

First i come from overtrading which caused fear about taking positions, therefore i want to get back on track by
trading only one trade on Friday. Why Friday very simple i have time only on friday.
Which stocks i want to trade stock which met certain criteria.
Right now these are, ABX, ACN,AFL, AIG,AMT,APA,APC,AXP,BA,BAX,BBY,BHP,C,CAT,CBS,CLF,COF,COH,COP,CRM,CVS,DE,DFS,DG,DIS,DUK,DVN,EMR,ETN,FCX,GG,HAL,HCA,HD,HES,HFC,HON,HUM,IP,JCP,JNJ,JPM,KORS,LLY,LOW,LVS

For setups i use the approaches covered by George Douglas Taylor, Linda Bradford Raschke, Barry Rudd and Oliver Velez.

During Trading it is necessary for me to constantly Log my thoughts by typing to my log after i entered the position.

I will clarify my approach in the following weeks.

Position Size it is very small right now. I will use the DDRL formula described by Robert Deel in his book to increase or decrease my position size.


But for today i picked three interesting stocks
1. AMT it made a wide day yesterday, which makes it a setup for Barry Rudd's wide range day method. Because AMT is not near an daily or 15 minute time average described by Oliver Velez i would favor a play to the long side.

2. LVS It made also a wide day, i prefer also a continuation on the long side but LVS is in a wide channel which makes it choppy.

3. KORS also made at a wide range day but it stopped on a resistance. Therefore this would be a candidate for short.

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  #3 (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 am now entered into KORS because it showed a good continuation Pattern on the 1 minute chart therefore i think
it will make it over the daily Ma50. Entry was at 56.88 stop at 56.65

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  #4 (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 after I entered the entry to the forum I was stopped out. :-D

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  #5 (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 call that what happend self destructive Trading,
i do not know how it happend that i done exactly the opposite to my previous made analysis
without having a reason on the chart to do that. So in general that was a discipline problem.
I had a bad night yesterday my meal was not very well suited to show good performance, but
that are just excuses, even if a trader is not in top physical condition it should be possible to stick
to it's plan.

I am not sure if the reasons for those mistrades, which happend to me several times, do not have
a fundamental reason. I have not thought about such a possibility, yet.
Can it be that i am afraid to win ? There could be a reason to be afraid about winning.
The only reason why I could be scared of winning is maybe that trading (life) would become too easy for me.

So i hope it was just a discipline problem, because that can be solved by training and sticking too the plan.
Or taking a cold shower everytime such a mistake will occur, which i will make right now.
I never done that before and hope it will bring the expected effect. I think i got that advice out of Jeff Quintos Webinar.

Ok next time i will stick to my previosly defined plan.

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  #6 (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 is a holiday in Germany,

therefore i have time to trade.
My candidates i keep special focus on today are
1 . AMT if it mange to break over 84,29 i guess it can keep on trading up.
2. C Amibroker showed me a NR4 PAttern which can result in a wide range bar if it breaks above YH or below YL
3. LLY is trending down if it breaks below a previosly made hammer and retests it. This should be a good short candidate.
4. HLF seems to be a good short candidate because it is near a long term downward trendline.

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  #7 (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 plan.
First of all AMT showed very high volatility and was not tradeable for me today.
Second the other setups did not show up except the break out within C was tradeable for me.

Attached is a screenshot of my trade for today .




I maybe could have come into this trade a little bit earlier but on the other hand the half way retracement which
formed my entry was good enough for a over all profit of 37 ticks.
Even if that was not my target i can be happy for having followed my plan for today.

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  #8 (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

Therefore i am looking for good stocks
which have a good propability to move strong and fast tomorrow.

1. EMR is now in an Intrady widening triangle, near the upper resistance.
Therefore i see two scenarios 1. The resistance will hold and EMR moves fast down.
2. Alternative the EMR will break at the open the upper resistance,
and it will make a retest in the first half hour.
2. HES seems to show a similar broadening wedge scenario on intrady time scale.
3. HUM made an interesting pattern which could result in a wide downward movement.

The other secondary nice scenarios would be
1. LOW which is now on resistance trendline. And could break that tomorrow resulting in a big move upwards.
2. LVS is also at a upward resistance trendline but formed a spinning top, which could result in a downward move tomorrow.
3. IP made a breakout from a bear wedge which can result in a retest of the lower trendline of that wedge with an upward move or with an sharp downward move a continuation of the started breakout.

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  #9 (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

Ok today it was a very strong opening within the S&P and worldwide.
Therefore EMR and HES made an breakout right from the beginning they were very stron rising.
But i always try to enter on an retracement after the first move during the first half hour.
This has not worked within HES and EMR, therefore i could not enter. HUM made the predicted wide downward movement but because of the strong overall market conditions i dismissed going short. This time it was an error but
on the long run i think that is the better solution.

Therefore only the secondary stocks werre left.
During the first half hour LOW showed a rising wedge near the open which i used to enter a long position in LOW
and was nearly stopped out at break even after that LOW retraced the downward movement which i used to exit at a higher price than my nearly triggered stop. I could have stayed in but in the end my stop would have been triggered.



I made with that trade only 17 ticks with an initial risk of 20 ticks that was only a breakeven trade.

The better choice for today would have been definitly the scenario of IP which managed to run up 100 ticks.
So i conclude no time for party but also no reason for a cold shower i think that was just a clean managed trade.
Especially the entry was in my opinion a very low risk play.

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  #10 (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 today i spotted the following stocks
as most likely Longs
1. APA because it made a long green candle yestarday and broke through a minor Resistance.
2. BAX looks good because it made a WR Bar following Rudds Setups This can made either Long
or Short.
3. C seems to be a top candidate for long because it made a great breakout from a wedge type
daily formation and has no major resistance in its way.
4. DUK can be a good entry for long because of a ROC 2 pattern shown by Linda Bradford Raschke

Short Candidates
1. CAT because it is near an resistance and made WR followed by a Narrow Range Bar which
is a Setup following Barry Rudd. But it could be also a Long if it starts low during because it maybe
made a continuation pattern intraday.
6. LOW made a big green Bar which has a high shadow at the top. This is also near the projected target of
a previous made wegde type formation.

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