Dope, way behind with updates...

Real quick, nothing much as changed with respect to wins and losses, but getting better with execution.

Thursday:

Nothing much to say about this one, a good setup, good execution, just got stopped out before the run. I am looking at how to set stops, because this hurts just a little. On the flipside, I am becoming quite mechanical at selling when a stock is not working...

QLD:

Gross: -$9.60, net -$12.64

Weekend balance: $2927.08, down -1.51%, 0 winners out of 3 trades, profit factor of 0

Monday:

Better setup and very, very patient entry. Stock took forever to grind higher, penny by penny and I ultimately gave up and went back to work. Had I held, winner! As I stated earlier, good mechanical execution with losers, now need to do the same for winners...I'll be working.

QLGC:

Gross: +$0.90, net -$3.04

March info: Lost -$26.55, -0.90%, 5 winners out of 13 trades, 0.78 profit factor (blah)
Quater info: Lost -$125.81, -4.0%, 13 winners of 35 trades, 0.62 profit factor (ugly, thanks to Feb.)

I like that it will be new month and new quarter starting tomorrow...

Masterjaz

Hard Market...

Not much to say today, quasi-system trade, good mechanics, just not a winner. Also got a good fill, so the loss was tempered.

QID:

Gross: -$8.10, net -$11.14

Masterjaz out

Fly out

Chalk up another loss, but this trade was executed with perfect objectivity and mechanical order entry. I'll take it. It is always hard to trade reversals in a strongly trending market, and today was no different. Still perfecting the craft, nonetheless.

GAIA:

Gross: -$17.95, net -$20.99 (note, I sold the first 85 shrs @ $17.11, not $17.10 as reported on the chart)

As an aside, I did find two great shorts (ZINC and UAUA). If and when I get setup to trade with a prop firm (along with the ability to short), I'll be looking for both setups. Today was a good example of when shorting is preferred over going long.

For now,
Masterjaz out

One more QID shot...

And another loss. Maybe I should just give up on the QID. As soon as I do, it will print a perfect setup and pop, I know it. Oh well.

QID:

Gross: -$3.25, net -$6.29

Quick commentary: I am fully aware of my chicken sh!t ways of taking partial profits early and often, yet letting losers go full position to stop loss. So today, I decided to take 1/2 the position off after the stock declined half way to my stop. Although...I did wait for it to go past and then return (bad...). I will continue this trend until I have sufficient data/observations on how stocks behave (aka, how many go 1/2 way to stop loss, how many of those stop out, etc.). More criteria later. Nonetheless, I was able to save a little bit of cash and provide further patience and objectivity using this slight tweak to my system.

Weekend numbers: $2971.85, up +$33.68 or +1.15%, 1 of 3 trades winner, 2.04 profit factor

A good week and I am excited to go on to next week. Damn 3-day weekends!

Masterjaz out

In retrospect...

Wow, just left a comment over on Evolutions blog directed at Swift Trader and noticed I blew that QID trade. Sure I got in a little early as the stock popped into the close of the 10min hammer, but that hammer's high was never taken out. I should have bailed immediately as it is not a valid signal. I hope that is clear. My system requires the prior bar's high to be taken out before entering, aka, place my stop limit order 1c above the current bar's high, then when the next 10min period begins, if the stop is hit, then the high was taken out, the move confirmed, and I'm in.

I cannot believe I just now noticed this. Still learning. Thanks to Evo and Swift for making me review my trade...

Masterjaz out

And a Strike Out...

Always seem to follow a solid winner with a solid loser. Good trade, just did not work...

QID:

Gross: -$24.20, net -$26.04

I think I posted awhile back about trying to trade 'the market', hmm, should I listen to my own advice?

Masterjaz out

TRIPLE (a first)...

Big trade today in LEH. Knew it was going to take balls and I could have been killed, but it patterned so nicely I had too. Chart does not do it justice as the stock was running into the close of the 10min bar. Luckily, I placed my stop limit 1min before and it was filled 17s before the new bar printed and LEH was rocking.

LEH:

Gross: +$70.25, net +$66.21 (biggest trade ever)

For now,
Masterjaz out

Screwed...

Thursday was one for the books. Took a non-system trade, first ever, and lost. More commentary to follow after the chart+numbers.

ASPM:

Gross: -$8.55, net -$14.59

Commentary: A lot lead up to taking this trade. First, I was on Wallstreak and saw monster numbers being posted. Subconciously, I think this pushed me to trade as I wanted to be part of the action--but I was not getting any setups and the market was trending and no reversals were printing. I see a couple setups form in CRNT and PGNX, but they never hit my entered stop limits--so I am frustrated that a couple good setups did not work. Then I see ASPM tanking, and tanking hard. So I am ready to play, but note it is nearing the close. ASPM prints a monster red candle, but has partly retraced. There is no way I'll get a signal on the 10min, so I switch to 5min, find a nice entry and place my stop limit. Stock blows by the limit, never getting filled. So now I've watched %-sized gains be missed. I decided then to go back to my old system and place a market order at the end of the current 5min bar. All is decent. Stock pops a few cents, still below my 1% target, so I hold. It begins to reverse. Logic kicks in and I say, 'get the f out, now' and do. Small loss, but a non-system trade is a big no-no.

In the end, I am not upset about taking the trade, had I held, it would have worked. In the end, it is about not following my system, and more importantly, the OPPORTUNITY COST of using my last trade of the week. So I am left in the red for the week, and have all weekend to review.

That's my rant, that's the story, so next week, it is back to the system.

Weekend numbers: $2938.17, down -$16.72 or -0.57%, 1 winner out of 3, profit factor of 0.27

'Til next week,
Masterjaz out

Single...

Was not planning on trading today, but a heads-up on Wallstreak got me interested. HUM was getting murdered, so I decided to take a shot.

HUM:

Gross: +$10.25, net +$6.20

Not a huge winner and it could've been larger, but I am just working on the system. Someday I may have the balls to make serious coin.

HANS...

Nothing much to say, hard market to trade. Good opportunity, but no pop.

HANS:

Gross: -$6.30, net -$8.33

We'll see what happens next,
Masterjaz out

Single...forgot to post last week...

I did not post my final trade last week nor the weekend numbers. Here they are...

PCU:

Gross: +$4.20, net +$1.16

For the week: $2956.72, up +$4.28 or +0.14%, 2 of 3 trades winners, profit factor of 1.27.

Until the next trade,
Masterjaz out

Double

Anyone else sick of f'n ABK, MBI, TMA news. Just fix the f'ers and let's get back to 'normal'. I just have to make sure to be out of trades in the late afternoon when the BS hits the wires.

CAVM:

Gross: +$23.06, net +$19.16

For now,
Masterjaz out

Strike out...

Some things never change. Nearly caught the late day rebound but missed. The more I think about it, the more I need to stop trading my pattern day trader limited retirement account and get an account with leverage and, more importantly, and the ability to trade more than 3 round-trips per week.

ARD:

Gross: -$14.00, net -$16.04

For now,
Masterjaz out