Wednesday, 19 November 2008

Trades 19/Nov/2008

Watchlist:
ADBE,BIDU,CA,CMCSK,CSCO,CTRP,DTV,FSLR,FWLT,KLAC,
MICC,NDAQ,OSIP,RIMM,ROST,SCHW,SHLD,TEVA,BAC,WYE

Got too much on at the moment. Work getting busy. Tinkering with my strategy, and also trying out some new software for charts and stock scanning. I'll complete further details later, but here is brief summary of my trades today.

ROST (gap up)

Gapped up but immeditealy showed weakness on the very bearish first bar. Fell thru the OR low. I went short on a slight pullback as the market turned down.
Didn't work out > Got stopped for a loss.

WYE (weak sector)

This was a last session trade. Weak stock in it's sector which had trended down below previous day's high. Went short as the market weakened in the last session. Closed for 1R gain.

RIMM (gap up)

Gap up and showed some initial strength. But couldn't hold the previous day's high as it then trended down with ema. Pulled back with successive NR7 bars. This price action combined with market downturn was my trigger for a short.
Took partial at 1R as it fell nicely, then closed rest on trailing stop also at 1R.

FWLT (gap down)

Weak first candle thru previous day low. We then have sideways consolidation until we hit ema resistance. Went short after NR3 bar off ema and market turned down.
Didn't work out and stopped out for a loss.

BAC (weak sector)

Another last session trade. Stock was unable to hold previous day's low and then trended down the whole day. Went short in last session as the market weakened into the close. Closed for 1R gain.

So a profitable day overall. But all a bit frantic I feel.
I haven't quite got the strategy amendments ironed out properly in terms of entering and exiting at a comfortable pace like I used to. Although it seems to be working at the moment > this quick in and out for 1R doesn't really suit me. Just need to find the right balance.

2 comments:

rudy said...

TR: I share your sentiments. It is too damn hard trying to juggle a full time job and scalping trades in between. I prefer to give myself time to monitor the markets 10:00 - 11:30, and just let my stops do the work for the rest of the day. But it has been difficult meeting my monthly goals of R's this month. Nevertheless, it is non-stressful trading, just the way I like it.

Kudos to you for grabbing those R's!

Rudy

TraderAm said...

Thanks Rudy.