ASCA:
Here is what the stock did after I sold...
Gross: -$1.05, net -$4.54
I'll post weekend and February numbers later and then drink myself into a stuper.
Masterjaz out
Thursday, February 28, 2008
New system trading (ground out)...
Started trading my new system today with some success. Being a chicken cost some change, but I'm happy to be back in the game. My string of losers keeps growing and it looks like February will suck butt, but I'm still smiling.
ASCA:
Here is what the stock did after I sold...
Gross: -$1.05, net -$4.54
I'll post weekend and February numbers later and then drink myself into a stuper.
Masterjaz out
ASCA:
Here is what the stock did after I sold...
Gross: -$1.05, net -$4.54
I'll post weekend and February numbers later and then drink myself into a stuper.
Masterjaz out
Monday, February 25, 2008
Another Strike Out...
Getting painful out here...
BPHX:
Gross: -$32.20, net -$38.04
The slide continues. Not giving up on it yet, although I am looking to tweak the system a bit. I think I've noticed something, but my non-readers will have to wait (yes, you that just look at the pretty charts).
Masterjaz out
BPHX:
Gross: -$32.20, net -$38.04
The slide continues. Not giving up on it yet, although I am looking to tweak the system a bit. I think I've noticed something, but my non-readers will have to wait (yes, you that just look at the pretty charts).
Masterjaz out
Sunday, February 24, 2008
Weekend Review...
It's not been a great week, but it is part of the game...
Weekend numbers: $3009.46, down -$34.11 or -1.14%
Basically, I think my previous success lead to taking unnecessary risks and poor setups. The benefit is I have realized it early and I stalked a beautiful candidate on Friday, but did not pull the trigger. I literally thought "if I was up and running with a prop firm, I'd take this in a heartbeat". Of course the stock ran 10% and was up 20 something bars before a new low was made.
Let's see what tomorrow brings,
Masterjaz out
Weekend numbers: $3009.46, down -$34.11 or -1.14%
Basically, I think my previous success lead to taking unnecessary risks and poor setups. The benefit is I have realized it early and I stalked a beautiful candidate on Friday, but did not pull the trigger. I literally thought "if I was up and running with a prop firm, I'd take this in a heartbeat". Of course the stock ran 10% and was up 20 something bars before a new low was made.
Let's see what tomorrow brings,Masterjaz out
Thursday, February 21, 2008
Official drawdown...
For the first time since I started in Dec. my account has gone red. I am just not trading as I should be--too quick to trade, impatient, and jumping the gun without stalking the best setups. Also not managing my trades with any consistency...
BPFH:
Gross: -$14.23, net -$17.78
Tomorrow, maybe, maybe not,
Masterjaz out
BPFH:
Gross: -$14.23, net -$17.78
Tomorrow, maybe, maybe not,
Masterjaz out
Tuesday, February 19, 2008
Fly Out, good use of scaling...
SMSI: first trade in which I scaled out even when losing, saved some pennies, although I am still very subjective...
Gross: -$8.25, net -$16.33 (Fly out)
A losing streak?, I will know in a couple more trades,
Masterjaz out
Gross: -$8.25, net -$16.33 (Fly out)
A losing streak?, I will know in a couple more trades,
Masterjaz out
Thursday, February 14, 2008
Foul tip right in the nuts--no cup
While not an official blow-up, I did suffer a monster loss today. Partially due to monster bid/ask spreads and partially to not scaling out, I got killed and gave up much of my overall gains.
PPO:
Gross: -$48.32, net -$50.36
Today deserves some commentary: The problem with today's trade is that I worked so hard to gain a respectable 2-3% over the last few weeks and blew it in one shot. I partial out of winning trades at the first sign of trouble and at +1%, yet I let these losers drop with the steadfast notion they will eventually pop, and a day like today was inevitable. So, in the future I will have to start scaling out of losers, probably starting at -0.5%. Also, I do not like the way an NYSE stock trades. Lots of bid/ask movement with little buying/selling. Made it hard to sell at my stop loss without proof of buying/selling interest at that level. Call it a fakeout. In the end, I'll survive and learn from days like today.
For now,
Masterjaz out
PPO:
Gross: -$48.32, net -$50.36
Today deserves some commentary: The problem with today's trade is that I worked so hard to gain a respectable 2-3% over the last few weeks and blew it in one shot. I partial out of winning trades at the first sign of trouble and at +1%, yet I let these losers drop with the steadfast notion they will eventually pop, and a day like today was inevitable. So, in the future I will have to start scaling out of losers, probably starting at -0.5%. Also, I do not like the way an NYSE stock trades. Lots of bid/ask movement with little buying/selling. Made it hard to sell at my stop loss without proof of buying/selling interest at that level. Call it a fakeout. In the end, I'll survive and learn from days like today.
For now,
Masterjaz out
Wednesday, February 13, 2008
Single...
Nice to end losing streak, even if it was just two trades.
DAKT:
Gross: +$21.26; net +$18.58
Maybe a trade tomorrow as well,
Masterjaz out
DAKT:
Gross: +$21.26; net +$18.58
Maybe a trade tomorrow as well,
Masterjaz out
Monday, February 11, 2008
Fly or Ground Out...
Have not decided which out I deserve, but I'm out either way. Mental note: NEVER TRADE THE MARKET--too slow, too many variables, just sucks.
QID:
Gross: -$9.60, net -$11.64
Try again later,
Masterjaz out
QID:
Gross: -$9.60, net -$11.64
Try again later,
Masterjaz out
Thursday, February 7, 2008
Ground out
Simple trade today that ultimately failed. Problems with order execution resulted in a loser, when it should've been a scratch...
UFPI:
As you can see all the relevant and important information is on the image. No need to elaborate.
Gross: -$4.20, net -$7.24
Done for the week with good results--
$3086.99, up +$10.72 or 0.35%, 2 winners out of 3 (should be 3/3), profit factor of 2.48
More next week,
Masterjaz out
UFPI:
As you can see all the relevant and important information is on the image. No need to elaborate.
Gross: -$4.20, net -$7.24
Done for the week with good results--
$3086.99, up +$10.72 or 0.35%, 2 winners out of 3 (should be 3/3), profit factor of 2.48
More next week,
Masterjaz out
Tuesday, February 5, 2008
Double (before account for commish)...
ETFC (watching a ton of possible setups but nothing looked good--typical of a grinding/trending day)
Bought 12:00pm
500 shares @ $4.50
exit: (practicing adding liquidity in preparation for prop trading...)
sold 100 shrs @ $4.54 (usual 1%, although I entered the limit at $4.55, so a slightly subjective...)
sold 250 shrs @ $4.55 (limit order practice, ECN rebate)
sold 150 shrs @ $4.56 (had to attend seminar, happy to lock profit)
Commentary: As alluded to, I am contemplating joining a prop firm in order to get over pattern day trader and cash account issues. This three trades a week is a blessing and a curse in that I must focus only on the best setups yet I can only take the three trades and opportunity costs are huge. Many firms have partial to full ECN rebate pass-through such that my usual method of market orders will cost me more if routed through the various ECNs. An alternative is to set my 1% partial scale out with a limit order, thereby adding liquidity and providing a rebate. I was testing that today and was successful. More will follow, I am sure.
Gross P/L: +$25.50 gross, +$14.95 net
We'll see what tomorrow brings,
Masterjaz out
Bought 12:00pm
500 shares @ $4.50
exit: (practicing adding liquidity in preparation for prop trading...)
sold 100 shrs @ $4.54 (usual 1%, although I entered the limit at $4.55, so a slightly subjective...)
sold 250 shrs @ $4.55 (limit order practice, ECN rebate)
sold 150 shrs @ $4.56 (had to attend seminar, happy to lock profit)
Commentary: As alluded to, I am contemplating joining a prop firm in order to get over pattern day trader and cash account issues. This three trades a week is a blessing and a curse in that I must focus only on the best setups yet I can only take the three trades and opportunity costs are huge. Many firms have partial to full ECN rebate pass-through such that my usual method of market orders will cost me more if routed through the various ECNs. An alternative is to set my 1% partial scale out with a limit order, thereby adding liquidity and providing a rebate. I was testing that today and was successful. More will follow, I am sure.
Gross P/L: +$25.50 gross, +$14.95 net
We'll see what tomorrow brings,
Masterjaz out
Monday, February 4, 2008
Single, huge commish...
RNWK:
Bought 10:50am doji,
300 shares @ $6.20
exit:
sold 200 shrs @ $6.2301 (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 @ $6.2305 (markets hitting lows of the day, wanted/needed out)
Commentary: A slow moving stock, huge size on bid and ask, and commissions. In reality, the % paid for commission is fixed based on the number of partials I do, so I would have been fine trading 400 shares. Still sucks. Also, stock did pop after nearly testing my entry, sold well before. Again, never hurts to lock in a profit, but I need to learn how to hold.
Gross P/L: +$9.07 gross, +$3.02 net
We'll see what tomorrow brings,
Masterjaz out
Bought 10:50am doji,
300 shares @ $6.20
exit:
sold 200 shrs @ $6.2301 (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 @ $6.2305 (markets hitting lows of the day, wanted/needed out)
Commentary: A slow moving stock, huge size on bid and ask, and commissions. In reality, the % paid for commission is fixed based on the number of partials I do, so I would have been fine trading 400 shares. Still sucks. Also, stock did pop after nearly testing my entry, sold well before. Again, never hurts to lock in a profit, but I need to learn how to hold.
Gross P/L: +$9.07 gross, +$3.02 net
We'll see what tomorrow brings,
Masterjaz out
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