Daily Journal 1/31

Today, I took 8 day trades, of which 4 are breakout trades and 4 are DUMMY trade.

It was a DUMMY fest today after 2:00pm.

Total Trades taken today:8 (day trades)
Day trade Winners :6
Day trade Losers :2
R Total: +18
Total daytrade P/L for today: $9780

Day Trade: Long BA 30-min chart

Entry @ $89.76 / 700

				Entry	:	$89.76
				Size	:	700
				Exit	:	$89.50
				Stop Loss	:	$89.35
				Risk	:	0.41
				P/L	:	($182.00)
				R	:	-0.63

Day Trade: Long RIMM 30-min chart

Entry @ $125.75 / 700

				Entry	:	$125.75
				Size	:	700
				Exit	:	$127.90
				Stop Loss	:	$125.30
				Risk	:	0.45
				P/L	:	$1,505.00
				R	:	4.78

A classic DUMMY trade setup. Entry was on the 9th cstick after it spiked below the previous cstick then preceded to move above the the PIVOT cstick. Closed position before the close.

Day Trade: Long BIDU 30-min chart

Entry @ $126.45 / 700 ***late posting***
Exit @ $125.57

				Entry	:	$126.45
				Size	:	700
				Exit	:	$125.57
				Stop Loss	:	$125.65
				Risk	:	0.8
				P/L	:	($616.00)
				R	:	-1.10

I missed the channel/base breakout entry so I waited for a low risk entry point in the form of a narrow range cstick. Entry was on the 5th cstick and position was stopped 2 csticks later. I failed to notice the resistance area in the form of a minor high around $127 in the daily chart.

Anonymous?????

Just got this sequence of comments from somebody who don't even want identify himself/herself.

I blog for myself to record my trades and keep it as my trading journal. I you don't like what you see then get out.

Anonymous said...

nice entry. :)
11:38 AM

mc said...

thanks for pointing out

11:42 AM

Anonymous said...

mc - I suggest you add another late entry. Long 700 CHRW at yesterdy's close of 43.76. That will look good too.

12:40 PM

Day Trade: Long RIMM 30-min chart

Entry @ $104.67 / 700 *** wrong price***
Entry @ $124.67 / 700 *** update 11:41am***

				Entry	:	$124.67
				Size	:	700
				Exit	:	$127.81
				Stop Loss	:	$123.70
				Risk	:	0.97
				P/L	:	$2,198.00
				R	:	3.24

I came this morning all ready to re-establish a SHORT position trade on this stock but instead of breaking down, this stock broke out of multi-day downtrend in the form of WIDE RANGE cstick (see 1st cstick). So i had to change my plan into a intra-day long trade. First low risk entry was when the 3rd cstick moved above the 2cstick. It smelled like a complete mauling of the bear traders...short squeeze!!!!

Day Trade: Long HOLX 30-min chart

Entry @ $51.40 / 700 *** late posting***

Exit @ 54.94 ***update 2:30pm***HOLX, 3-month daily chart

				Entry	:	$51.40
				Size	:	700
				Exit	:	$54.94
				Stop Loss	:	$50.50
				Risk	:	0.9
				P/L	:	$2,478.00
				R	:	3.93

The first time this stock appeared in my GAPPER scan, I did not pay attention. But a few minutes later, it was back again but on the 20-DAY NEW HIGH (see daily chart above). I'm familiar with this stock because I used to track/trade it everyday when it was the top honcho of the medical equipment sector. Bought the position when the price pulled back a little bit after the breakout. Sold the position when the trailing stop was hit which is just below the 9th HANGING MAN cstick.

Day Trade: Long LVS 30-min chart

Entry @ $102.94 / 700
Exit @ $105.15 ***update 10:50am***

				Entry	:	$102.94
				Size	:	700
				Exit	:	$105.15
				Stop Loss	:	$102.10
				Risk	:	0.84
				P/L	:	$1,547.00
				R	:	2.63

Another bounce at support trade. It offered another nice low risk entry on the 9th cstick but unfortunately I missed it.

Day Trade: Long GOOG 30-min chart

Entry @ $498.15 / 200
Exit @ $103.79 ***update 10:51am*** ***edit 11:38pm***
Exit @ $503.79 ***update 11:39pm***

				Entry	:	$498.15
				Size	:	200
				Exit	:	$503.79
				Stop Loss	:	$496.00
				Risk	:	2.15
				P/L	:	$1,128.00
				R	:	2.62

Another base breakout trade. As always when I trade breakouts, I sold the position when it started to chop as it approched a minor resistance.

Day Trade: Long X 30-min chart

Entry @ 81.12 / 700

Exit @ $83.58 ***update 10:15am***3-month Daily Chart

				Entry	:	$81.12
				Size	:	700
				Exit	:	$83.58
				Stop Loss	:	$80.00
				Risk	:	1.12
				P/L	:	$1,722.00
				R	:	2.20

Based on my scan last night, I was looking for X to get some trend continuation after a big day. Some of the stocks in the sector at CHAP MT ATI RTI

Daily Journal 1/30

Today, I started the day in disarray all because I watched too much TV (ROME from HBO, WOWOWE from The Filipino Channel ) last night and I was not able to do my nightly routine to scan the charts and prepare my trade plan for the day. I decided in the morning to just jump head first and trade my way out. I took 3 positions that can be graded as B- trade setups. By the time better setups came out of the scan, I was busy defending my positions instead of pouncing on these new opportunities.

To make matters worse, I had to switch to mobile platform ( fancy term for can't stop trading but had to do more important things than trading) by midday. Whoever said that you can trade from a far away beach with just your mobile device while watching the babes walk by and a cool pinacolada by your side must be full of B.S. Trading from TREO or motoQ is so uncomfortable, my fingers hurt and it felt like I get the cramps once in a while. To add insult to injury, I kept hitting some other keys from this QWERTY keyboard plus the transmission is still slow.

Total Trades taken today:6(day trades)
Day trade Winners :6
Day trade Losers :0
R Total: +8.4
Total daytrade P/L for today: $4697

Day Trade: Long BOT 30-min chart

Entry @ $168.30 / 700 ***late posting***
Exit @ $170.11

				Entry	:		$168.30
				Size	:		700
				Exit	:		$170.11
				Stop Loss	:		$167.45
				Risk	:		0.85
				P/L	:		$1,267.00
				R	:		2.13

I created a TRADE TRIGGER around 11:20am to buy at market when price clears $168.25 which was .25 above the top of the tail of the 2nd cstick. The trigger was executed and my trade was filled on the 6th cstick. Sold the position when it started to chop after it filled the gap. I tried to sell it when it was still around $170.90 but trading from a mobile device (motoQ) was so slow my order was posted 3 minutes later.

Day Trade: Long NMX 30-min chart

Entry @ $128.90 / 700 ***late posting***

				Entry	:	$128.90
				Size	:	700
				Exit	:	$131.48
				Stop Loss	:	$127.80
				Risk	:	1.1
				P/L	:	$1,806.00
				R	:	2.35

I created a trade trigger to buy at market price when price clears $128.25 and my trade was executed at $128.90, a $0.65 slippage...or more like a robbery. This is a classic FLAG price pattern which usually resolves to the direction of the pole of the flag. I decide to keep it until the end of the day after it cleared a major resistance in the daily chart.

Done for the day

***update 2:04***

just got an alert in my motorolaQ that NMX and BOT triggered. Will post detail later. Posting using QWERTY is no picnic in the park.

Later.

Day Trade: Long FSLR 30-min chart

Entry @ $32.30 / 700 ***late posting***

				Entry	:	$32.30
				Size	:	700
				Exit	:	$32.76
				Stop Loss	:	$31.90
				Risk	:	0.4
				P/L	:	$322.00
				R	:	1.15

Day Trade: Long CHAP 30-min chart

Entry @ $50.08 / 700

				Entry	:	$50.08
				Size	:	700
				Exit	:	$50.24
				Stop Loss	:	$49.55
				Risk	:	0.53
				P/L	:	$112.00
				R	:	0.30

Day Trade: Long ICE 15-min chart

Entry @ 130.50 / 500
Exit @ $131.58 ***update 11:54am***

				Entry	:	$130.50
				Size	:	700
				Exit	:	$131.58
				Stop Loss	:	$129.25
				Risk	:	1.25
				P/L	:	$756.00
				R	:	0.86

Day Trade: Long CROX 30-min chart

Entry @ $51.78 / 700
Exit @ $52.40 ***update 11:56am***

				Entry	:	$51.78
				Size	:	700
				Exit	:	$52.40
				Stop Loss	:	$51.40
				Risk	:	0.38
				P/L	:	$434.00
				R	:	1.63

Daily Journal 1/29

Today, I took 7 day trades, of which 6 are breakout trades and 1 DUMMY trade.

Total Trades taken today:7(day trades)
Day trade Winners :7
Day trade Losers :0
R Total: +17
Total daytrade P/L for today: $9262

Day Trade: Long FMCN 30-min chart

Entry @ $82.59 / 700 ***late posting***

				Entry	:	$82.59
				Size	:	700
				Exit	:	$84.87
				Stop Loss	:	$81.85
				Risk	:	0.74
				P/L	:	$1,596.00
				R	:	3.08

This is a classic DUMMY trade setup. The first 2 csticks shows intense buying followed by NARROW RANGE csticks which offered low-risk entry for the DUMMY traders. Entry was on the 5th cstick on the break of the high of the pivot cstick. Sold 700 shares before the close.

Day Trade: Long CTRP 30-min chart

Entry @ $71.00 / 700
Exit @ $72.11 ***update 11:58am***

				Entry	:	$71.00
				Size	:	700
				Exit	:	$72.11
				Stop Loss	:	$70.20
				Risk	:	0.8
				P/L	:	$777.00
				R	:	1.39

The daily chart of this stock was showing a perfect dummy setup but I missed the entry so I waited for it to break the 52-week high before I entered the trade. Entry was on the 3rd cstick on the break of the 52-week high from 2 days ago. Sold the position on the first sign of a pullback.

Day Trade: Long SPWR 30-min chart

Entry @ $43.09 / 700
Exit @ $45.30

				Entry	:	$43.09
				Size	:	700
				Exit	:	$45.30
				Stop Loss	:	$42.40
				Risk	:	0.69
				P/L	:	$1,547.00
				R	:	3.20

I saw a cup & handle basing pattern in this chart. Entry was the 3rd cstick when price clears the descending price channel of the handle. Sold 700 shares on the 4th cstick when price started to pullback after the exhaustion buy ( see 3rd WIDE RANGE cstick).

Day Trade: Long NMX 30-min chart

Entry @ $127.92 / 700
Exit @ $129.50

				Entry	:	$127.92
				Size	:	700
				Exit	:	$129.50
				Stop Loss	:	$127.20
				Risk	:	0.72
				P/L	:	$1,106.00
				R	:	2.19

I saw a possible price channel breakout in this stock. Entry was on the 1st cstick when it move above the price channel. Sold the position when the price started to pullback on the 3rd cstick.

Day Trade: Long ATI 30-min chart

Entry @ $100.86 / 700

				Entry	:	$100.86
				Size	:	700
				Exit	:	$103.24
				Stop Loss	:	$99.95
				Risk	:	0.91
				P/L	:	$1,666.00
				R	:	2.62

Another CUP & HANDLE basing. Entry was on the break of price channel creating the handle. Sold the position on the 9th cstick when price (8th cstick) showed some distribution after hitting all time high.

Day Trade: Long AKAM 30-min chart

Entry @ $54.65 / 700

				Entry	:	$54.65
				Size	:	700
				Exit	:	$55.20
				Stop Loss	:	$53.85
				Risk	:	0.8
				P/L	:	$385.00
				R	:	0.69

Another breakout trade that did not really pan out. Sold the position when price re-entered the flat price channel marked by the red line.

Trade: Long VIP @ $85.60 ( 2nd load)

Entry @ $85.60 / 500

Day Trade: Long FMCN 30-min chart

Entry @ $79.77 / 700
Exit @ $82.93 ***update 10:59am***

				Entry	:	$79.77
				Size	:	700
				Exit	:	$82.93
				Stop Loss	:	$79.00
				Risk	:	0.77
				P/L	:	$2,212.00
				R	:	4.10

I saw a possible bounce trade from the $79-80 price support area. This support area can be seen in the daily chart. The price action of the stock the last 2 days using intra-day charts shows clearly that $79 is a strong support area. Entry was when the price started to move up after initially moving below the two day low creating a possible BEAR trap scenario. Sold the position when price started to pullback when it approched the >$83 area which was the latest 52-week high.

Daily Journal 1/26

Last Friday, I took 6 day trades, of which 5 are profitable and 1 was not.

*** update 1/29 8:50am***
Looking it my Friday's trade, it felt I forced some of the trades. It was a choppy day and I had to grind some of my profits with very few good setups to take.

Total Trades taken today:6(day trades)
Day trade Winners :5
Day trade Losers :1
R Total: +7.4
Total daytrade P/L for today: $3675

Day Trade: Long TRMB 30-min chart

Entry @ $55.59 / 700 ***late posting***

				Entry	:	$55.59
				Size	:	700
				Exit	:	$56.88
				Stop Loss	:	$54.80
				Risk	:	0.79
				P/L	:	$903.00
				R	:	1.63

Day Trade: Short RIMM 30-min chart

Entry @ $124.25 / 700
Covered @ $125.00 ***update 1:35pm***

				Entry	:	$124.25
				Size	:	700
				Exit	:	$125.00
				Stop Loss	:	$125.35
				Risk	:	1.1
				P/L	:	($525.00)
				R	:	-0.68