Duplication

27th Nov 2007: -15
28th Nov 2007: -43
29th Nov 2007: +27 (no LFT)

There have been quite some struggling these days. But certainly, these are excellent struggle. These are feedbacks that I got to listen. It’s either technical or psychological. Once I find I am in control of myself, I am good.

Today what I did today is simply entering breaking size. Did not enter into trades that I am not too sure. Simple rules that gets nice result. One can succeed in 2 ways, 1. find your own system 2. duplicate what successful ppl is doing

If all these can be duplicated, then why not? Duplication with some personal character, there is your new business. Right? Just got to keep learning.

why not stop trading?

Trade: 141
Gross: 25.48
Net: 4.55
LFT:41.09
Ratio: 0.0018

Today could be like my last trading day, if I stopped trading. Topped at around 50 at 12:30pm. Eating lunch at a right time means alot. Eating at 2:30 basically means missing a nice piece of the market cake. Eating at 12:30pm might end up keeping most of my profit intact. Anyway, let’s talk about some observations here.

MRK was acting well today on news. I was buying it at 57.05, didn’t have a good sense of where it was going to go, got out way too early.

TSO was on my watch list, gapped down on pre-market, went up later, then made lower top, could have shorted it when it broke 53.00

The perception of the market/stock going too high/too low is not useful at all. I am going mostly with the market. However, there are times I am still picking bottom or top, without clear indication. Nah, better change it or else, probably gonna get killed.

A very calm day, even though I drunk coffee

Trade: 92
Gross: 55.00
Net: 45.44
LFT: 3.27
Ratio: 0.0057

I was amazed by my ability to focus on the price movement itself and actually found a pattern out of it, without using charts at all. Sometimes, certain condition can push one into another level, for the worse or better. Nevertheless, I am feeling much better today, for the net, for the psychology, and for how I surprised myself.

I was looking closely into Level II and T&S for identifying weak/strong stock against the s&p. Interesting things happened:

1. I became more confident with my entries
2. I let my winner run alot more
3. Losers were cut immediately

When I got a nice winner, I remained very calm, verbalized my trades, and kept myself in a steady speed. nicely done.

Turkey day

Trade: 130
Gross: 21.00
Net: 5.42
LFT: 7.5196

Decent day. I am feeling okay because I didn’t get negative 2nd day in a row–which used to happen in the past. I didn’t start trading till 11:20pm. I did notice after energy report, oil was down, airline was up. However, I did not switch to a new plan, a bit doubtful about long the airlines at first. It took me a while to actually understand that it’s time to long the airlines.

AMR and LCC were the two airline stocks that I watched. AMR broke out of the opening range later, but I only took a few cents profit out of the trade. Also LCC just went straight up, again, I was like a turkey, scared of losing my profit, got out of my trade too early.

Another note is that when S&P pulled back, AMR also pulled back a little bit, however, it managed to stay beyond its moving average. So I went in when it was holding at its level, definitely a good entry, got out with some little profit. Again, I wasn’t confident enough to let my winner to run.

My thoughts were on track. I need to slowly build up my confidence. I am happy with my patience today.

Partial answer

So my task tonight was reading through Edwin’s blog, from day 1. Then, i got my partial answer for today’s bad trade. I was simply trading against the market during first 1 and half hour and the mistake/emotion carried over to the next few hours.

“They were acting weak, but the market was up big and not coming in at all. I shouldn’t be shorting MSFT and SBUX on a day like today even if they are acting weak. I should wait until the market is negative on the day and then start shorting them looking for a breakout to the downside. When the market is up 100,200,250 points, the stocks might not go up, but there is nowhere for them to go down.”

Trade the market, then the stock. Simple answer.

Do it anyway

By Mother Teresa

People are often unreasonable, illogical
and self-centered;
Forgive them anyway.

If you are kind, people may accuse you
of selfish, ulterior motives;
Be kind anyway

If you are successful, you will win some
false friends and some true enemies;
Succeed anyway.

If you are honest and frank,
people may cheat you;
Be honest and frank anyway.

What you spend years building, someone
could destroy overnight;
Build anyway.

If you find serenity and happiness,
they may be jealous;
Be happy anyway.

The good you do today,
people will often forget tomorrow;
Do good anyway.

Give the world the best you have,
and it may never be enough;
Give the world the best you’ve got anyway.

You see, in the final analysis,
it is between you and God;
It was never between you and them anyway.

(I would say, it’s between you and yourself, it was never between you and them anyway)

Holy I hate myself

Trade: 169
Gross: -19
Net: -44.45
LFT: 49.45

Nothing is more frustrated than I know what is right to do yet I still do what is wrong…

Kindergarten mistake: use more share size than ever when I am already losing a big time!

What a day, I made my way back and then I threw my profit back

Tomorrow, I will write down every entry and exit I made. This will hold me back from being impatient and careless.

Today is quite interesting though. Apart from being impatient, obviously there’s something inaccurate about my entries. Got stopped out alot of times. No big losers no big winners, but too many wrong trades. That added up my day. Could have saved myself by stop trading when I was positive. Two times I didn’t take my winner.

Everyday, there will be something I do wrong. Sigh…

Be patient

Trades: 183
Gross: 55
Net: 25.81
LFT: 1.59
Ratio: 0.0027

Kind of over-trade, but hey, I didn’t give it up when I was down for few hours.

The setups that I was looking for today is

1. early range breakout
2. big number
3. contrary price movement with s&p

Basically I am sticking to these three entry signals, pump up my share size, be patient and disciplined, things should be good. Tomorrow is better.

Ended day early and had great fun with pink eye

+19

Ended the day early. Then got pink eye. Played some bowling. Whole day was relaxed and calm. Did some good trades. I was being patient enough to wait for a good setup. Short post cos I really don’t have much details here. Anyway, great week. Was negative only 1 out of 5 days. That’s pretty good. Give myself a pat on the back.

Nov 14th & Nov 15th 2007

Nov 14th

Trade 104
Gross 18
Net 0.7162
LFT 12.77
Ratio 0.0017

Nov 15th
Trade 189
Gross 4
Net -25.92
LFT 53.26

Totally lost discipline and so much overtrading for today. Kept picking bottom and top, definitely a suicidal! But glad that I finally understand what it means by weak stock. I mean, I understood it, but just wasn’t aware of it, not until I think back about today’s trades. GT is acting weak (market went up, it holds there, market sold off, it got killed). Tomorrow, get my psychology right, stop being so impatient!