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EMKR:
Bought 12:50am doji,
200 shares @ $13.47,
exit:
sold 100 shrs @ $13.551 (before the usual 1%, just did not see the stock popping and wanted to lock in profit-more importantly an amount that would cover the commision)
sold 100 shrs @ $13.4625 (at breakeven minus some slippage)
Commentary: Stock went on to explode after I sold at the bottom of the candle. No worries, as I was following my system. It is one of those trades that makes one want to change the system, perfect it and what not, but that will only lead to problems down the road. Just stick to your plan.
Gross P/L: +$7.35 gross, +$3.30 net
Weekend numbers: $3075.10, down -$3.98 or -0.13%, 2 winners in 3 trades, profit factor of 0.7. All in all, a decent week.
We'll see what tomorrow brings,
Masterjaz out
Been a while since I had a loser, today was the day. A strike-out true and true...
SEPR:
Bought 10:50am doji,
100 shares @ $28.949,
exit:
sold 100 shrs @ $28.831 (slight slippage as the true stop loss of $28.85 was quickly passed to the downside)
Commentary: Doji was not great, no real washout of weak hands, did trade with the market reversal so slight positive there.
Gross P/L: -$11.80 gross, -$13.85 net
We'll see what tomorrow brings,
Masterjaz out
MATR: (interesting range for a buy-out candidate, likely because of the cash-stock mix, I actually don't care, just glad to make some coin...)
Bought 9:20am doji,
70 shares @ $32.34,
(once again, no target set, stop loss is always 1c below the doji low, and moves as new candle highs are made compared to preceding stick)
exit:
sold 40 shrs @ $32.46 (held through a dip but a huge seller did not allow ask to go above 32.50)
sold 30 shrs @ $32.50 (again, iceberg sell around 32.50, got out with a profit, stock did not move after the sell)
Commentary: Good trade. Maybe would not have traded given it was a take over name
Gross P/L: +$9.60, net +$6.55
We'll see what tomorrow brings,
Masterjaz out
FSLR:
Bought 9:10am doji (close to it, darn fast moving stock),
15 shares @ $153.14,
(did not plan a typical target, stop loss--horrible, but it was too fast to look away. Stop would have been ~$5 away, way down there...)
exit:
sold 5 shrs @ $154.87 (following rules of locking in 1%)
sold 5 shrs @ $156.00 (just wanted to lock in profit, nearly $3 a share...)
sold 5 shrs @ $157.19 (a reasonable target based on price by volume, shaky market)
Commentary: The fast movement of stock prevented me from comfortably and objectively working on targets and stop losses. Had the stock tanked and the stop loss (the doji's low) been hit, I would be crying, so I am going to look at how stocks trade if they don't initially pop after the doji. My guess is the first line of support would be the low of the candle preceding the doji. Also, if the stock is not trading at the lows of the day, there may be support. Something to watch... Otherwise, a good trade, taking profits and almost a triple (1.88%).
Gross P/L: +$43.20, net +$39.15
We'll see what tomorrow brings,
Masterjaz out
I've started going with baseball descriptions of my trades and today is a single (0 to 1% winner).
CHINA (2):
Bought 10:10am doji (close to it, was within 1c of forming a perfect 'T'),
500 shares @ $4.00,
target $4.10,
stop loss $3.97,
risk/reward 3.33,
exit:
sold 200 shrs @ $4.0405 (following rules of locking in 1%)
sold 100 shrs @ $4.0205 (half the distance back and looking weak, subjective nonetheless)
sold 100 shrs @ $4.0005 (breakeven point)
Commentary: Commish on these trades are the killer. Check out difference between gross and net. No way to avoid such issues using my current 'per share' pricing scheme. If and when my balance supports it, I can go to a flat rate system. Otherwise a good trade, subjective on the second sell, but for now, I am very happy locking in profits.
Gross P/L: +$12.25, net +$2.18
Weekend numbers: $3039.94, +$8.30, +0.27%, 2 out of 3 winners, profit factor of 1.56 (all good numbers and I am pleased).
We'll see what next week brings,
Masterjaz out
Interesting day at my trading desk (also known as my laptop sitting on my desk at work...). Two trades, one that failed and one that was a winner, but I left a lot of money on the table. Nonetheless, I felt the trades were handled well, not 100% objectively, but only because I don't have a concrete system for how to deal with big WINNERS. Oh the humanity...
DEPO:
Bought 8:20am doji,
300 shares @ $3.4895,
target $3.65,
stop loss $3.40,
risk/reward 1.79 (huge target though...),
exit: sold full position @ $3.4602
Commentary: Nothing wrong with this trade except the position sizing+commision issue. I still have not worked out how I wish to play with low price, high share count trades. It seems I am losing tons on the commish...
Gross P/L: -$8.78, net -$14.84
Now comes the fun trade in SCOR:
Bought 12:00pm doji,
80 shares @ $23.86,
target $24.58,
stop loss $23.12,
risk/reward 0.97 (what's a target anyways...?),
exit:
sold 1/2 position after a ~1% pop, 40 shrs @ $24.00 (caught major slippage, still locked profit)
sold 1/4 position, 20 shrs, @ $24.11
sold 1/8 position, 10 shrs @ $24.41
sold 1/8 position, 10 shrs @ $24.85
Commentary: Holy crap, what a trade. It had my heart beating the whole time. In short, I chickened out and left over 60% of my profits by scaling out. On the other hand, I was more than happy to take a profit on this quick moving, highly volatile stock.
Gross P/L: $26.00, net $20.95
So, it was a profitable day, could've been better, but I probably would trade each one the same way. That is until I find an objective method for scaling out of winners. Ultimately SCOR ran to $25.41 (top of trade) and I would've exitted at $24.83. I would have loved $1/shr, but I likely would have a heart attack in the process. It is what it is. I will look into scaling out of positions using % increments (or something...).
Always another day,
Masterjaz out
Wow, there were absolutely zero setups today. Nothing to do but sit on my hands. Have to wait until Monday to get some action. Although...I did try to place a trade towards the end of the day, it did not enter (don't know why), but it would have been a loss (~ -$10). Sometimes it is better to be lucky...
As for my end of the week stats:
Weekend Balance: $3030.77, -$9.80 or -0.32%
Took 2 trades, was 1 for 2, profit factor 0.35.
Have a good weekend,
Masterjaz out
It is always nice when things go as expected. Not a big winner, but a nearly 100% objective trade. I will take it (over and over again).
SYNA:
Bought 8:50am doji,
60 shares @ $31.89,
target $32.70,
stop loss $31.06,
risk/reward 1.00 (usually low for long hammers such as these),
exit:
sold 1/2 position after a 1% pop, 30 shrs @ $32.22
sold 1/2 position, 30 shrs, @ $31.84 (was attempting to close at breakeven, $31.89), but caught some slippage.
Commentary: Perfectly played trade. Still working on my exit strategy, although I am pleased with today's technique. Had I used my new low, I would have exited at $31.74 and given up some gains. I am more than happy taking these 'singles' all week long. On the other hand, the stock did continue after making that low. Oh well.
Gross P/L: $8.40, net $5.37
So, I'll take the day and I have a trade left for tomorrow or Monday.
Always another trade,
Masterjaz out
Wild trading day...
JADE: 
Bought 9:30am doji,
400 shares @ $4.0095,
target $4.15,
stop loss $3.90,
risk/reward 1.28 (usually low for dojis such as these),
complex exit--
Sold 200 shrs @ $4.0515
Sold 200 shrs @ $3.932
Commentary: Good trade to start, excellent entry, good objectivity, sold 1/2 position at +1% gain. Then the bottom just fell out and the stock tanked. I should have exited the second 1/2 position at $4.00 (near breakeven), but watched the stock tank. Finally entered my market sell and got out at that bar's bottom (of course). Lesson here 1) Using Quotetracker, always enter next move (usually sell) after a move is made because it 'zeros' out the ticker/shares after the transaction. Had I had 200 shares entered, I could've sold earlier. 2) Don't think, just react, especially as targets/stops are hit. I only use mental values, so I must have lighening fast reflexes. I probably could have exited at $3.97 or so, had I been prepared. That would've cut my loss in half. Nonetheless, I was very pleased with the entry and first sell and still consider the trade decent. 3) Also, I need to think about the effect of commissions, this trade was 8 bucks using the same capital base, when a higher priced stock would've been ~2 or 3 bucks...
Gross P/L: -$7.10, net -$15.16
As always, there is always tomorrow (or Thursday for me due to pattern day trader...), Masterjaz out
Two trades today, both suffering from the restraints of under-capitalization). Both trades were very good entries, good starts, but immediate retracements after the next bar or two. Had I been able to partial out, I would have been profitable on the day. No worries, still learning and tweaking my method and the results are still small losses.VRTX:
Bought 9:00am doji/hammer (not perfect),
80 shares @ $20.93,
target $21.50,
stop loss $ 20.70,
risk/reward 2.5 (usually low for long hammers such as these),
exit $20.90 (Below my updated stop loss of $20.95 due to my playing with limit orders. Wanted to split bid/ask, freaked, cleared entry, had to reenter ticker/shares, and loss 5c/share in the process)
Gross P/L: -$2.40, net -$4.43
BBBY:
Bought 11:20am doji/hammer (perfect),
30 shares @ $27.38,
target $27.60,
stop loss $ 27.27,
risk/reward 2.00,
exit $27.36 (right in line with rules)
Gross P/L: -$0.60, net -$2.62
So, all told today I was very consistent with my entries, a little iffy on my first exit, and stuck to my system. The stocks just did not want to follow through and grind higher over multiple bars. I want to improve my capital base or my method to allow partialing out of positions if they go profitable after entry. I could have made 0.5% of my balance today, if I had this in place. Instead I paid a little tuition and survive to see another day. I do see an influx of cash to this account in the near future.
There is always tomorrow,
Masterjaz out
