End of Day Summary (10-13-2010)

Summary:

Paper trading 200 share lots:

I spent today trying not to be too stupid on my exits.

It didn't seem to work very well. Still hovering at around 50% with $1,300 gross showing $68.00 profit, which would all disappear with commissions.

At EOD I found myself wondering how a profit target would of worked out, so I went thru all the trades determined the best price past my entry (if it was stopped I used entry price). I then varied the profit target to see what would happen:

The best profit showed up at $0.60.

But - I don't think this is worth it. I need to address the lack of profit thru some other means: more solid entries or better timing on my exits. Heh. Same old, same old.

Ok - so today is my birthday and I was secretly hoping to nail it. pfft.

Just FYI - I write the summary after I check out the charts, meaning the chart notes are as they come.

After today's review, I am not sure what to say. Right ideas a lot of the time, but things just didn't work out. I need to be able to shift this balance - more winning entries and proper reading on the exits. I can see that I need to have more confidence when I am right - that is higher/lower lows and highs show trend and I need to stick with it.

I seem to be stalled.

Tomorrow - planning on doing the best I can. Entering when things look right and getting out when I think I should.

Trade well.

Details:

ACOR

First entry was the goods. Big volume and I was out. With a reverse, which was a mistake.

Second entry came in on the stop and new low. Should I of waited for the stop?

Third entry on the doji and what I assumed was a higher low.

I can't say that I made any obvious mistakes here... 

ADTN

I can't say that I made any obvious mistakes here either.

BIDU

Or on this one. I mean, I waited too long to exit; but the question, as always, was weighing on my mind: is it going to run or turn around?

CCSC

The reasoning on this entyr - new high, breaking thru with volume. Nope. I find myself doing this a lot - i.e., coming in a little late thinking momo will save the day. I was $0.20 to late. But even then - was there enough to warrant the entry? From the earlier action I would think so. I started watching this on the 10:55 and it was hitting new highs all the way up - maybe this had something to do with what I was thinking.

CRM

Heh. I had this feeling. I had this feeling that it was going to shoot up as soon as I bailed. And it did. Not a big deal, catch it on the way down. Which I did. But for some reason I got out.

I thought the 2:15 long was perfect - knocked out immediate support and shot up on increasing volume. When I got stopped I reversed, only to get stuck asking the question again.

JOE

This stock was all over for a bit. Shooting up, dropping like a rock. I came in on the even dollar as volume was decreasing and the price was making big streaks into the prior candle. With the next candle being green, I would like to tell myself that I was picking up some stall. But the sellers were not done. After I got stopped I joined the crowd. But it still wasn't done.

No clear markers for the end. Looking at the EOD chart it seems so calm and straight forward. Short until it gets below $22 then look for the exit. In real time the bounce has me questioning everything.

MHK

This was an interesting case. I came in late, but with the big volume and prior day activity, felt pretty good about overall direction: HOD was made on first candle and big volume coming in to send it back down. I figured that someone knew something.

Lol... it turned around and almost went straight up for a new HOD. Go figure. I pretty much got it wrong for the rest of the day. Was it me? Not being tuned in?

The last exit is typical - see CRM and BIDU (oh yeah - and V)- all over the same time period. I need to think: lower lows, this is headed down, but it needs to breathe.

MON

Can't you read the signs? failing to break the prior high means you are supposed to go down. Pfft.

I thought I saw the evidence on the 1:00 bottom-side near doji... but naw - it was just messing with me. I decided to join the crowd and got away at the bottom. I saw it - but didn't see the opportunity for a long... so I am wondering... what did I see? same goes for the 2:15 entry. But... by then the stock was basically flat.

NFLX

Not much to say here. Called it as best I could, just wasn't as good as it could of been. I need some of that synchronicity going on.

NSC

Up all day until I decide to join the party. Jumped in on the winning side after I got stopped. Just got out too early. Gotta ask myself - do I believe??

PLCE

Heh. This stock was bent on mis-behaving.I mean - doesn't everyone know when it is time to turn around??

I would rather this wouldn't be posted...

PWRD

And where did this come from? Way too late for me. But I put it on the list and waited till the dip. By then everyone was worn out.

UIS

Likewise with UIS. Put it on the list and waited for the dip. No one else wanted to come along. Caught a little bit of action towards EOD.

V

Saw the reason to exit, but not the reason to jump back on. Aren't they one and the same? The 2:55 exit reeks of BIDU and MHK - and CRM. Lower lows. Gotta believe.

VECO

Yipper. Sat on the HOD. And after I had added. Breaks my heart. 3:10 exit loses the faith.

WMB

Right idea on the first entry. Had problems reading it and waited till it came back. I saw more buyers coming in at 11:20 but they were gone for the day. Why bother with the rest of the day entries? No movement.

X

Pfft.