Well have been paper trading only here as of late. On friday turned in the paper trades for real trades and walked away with nice $249 profit. Had been on serious losing streak since about february 1oth. Couldn't figuire things out and was beginning to lose my confidence about my ability. Read three books on trading and read probably the most insightful book ever on trading. It was written by alexander elder, "welcome to my trading room." It comes with a work book and is pretty damn hard to pass the first time through. Have read it twice now and feel better equipped.
Some stocks i am wathcing very closely.
DXO- this is an etn that tracks crude oil forward contract. Looking for crude to reach $80 a barrel in next 6 months. This is the best etf to play crude oil. Have lost a ton of money on uso and uco due to an issue called contango. which is the rolling over of futures contracts in the coming months. DXO is ready to pop.
LVS- Las vegas sands, probably the best run casino in vegas and has a large exposure to china and singapore. Looking for levs to break and hold above $3.15 before going long.
GE- has been battered way down. Been stopped out twice on this entry. Will post entry when time is right. This company is way down and is extremely diversified and the bears are losing power according to weekly macd histogram. Looking to go long with a break of $10 and a stop at low of year, which is currently $8.98. For fun GE sells a $100k windturbine every 3 hours. Also ge could possibly sell there finance division which would make investors very happy. The only problem is that there finance division is actually making them money. Also $30 billion in cash doesn't hurt either. Why is this stock below $10? Been stopped out of GE three times for a $1k loss, ouch!!!
GOOG- oh how i love this chart, will look to go long on a break of $350. would also like to see the market turnaround. Could goog see $400?
GS- Looking to short GS for ultra short term play, I love to day trade this stock and will keep doing it as long as i make money with it will short GS when the 13 ema crosses the 22 ema on the daily chart or the macd hostgram ticks more negative on the daily chart.
Market- Feel like we could see one more leg down next week. This would be a buy signal in my book.
Sunday, February 22, 2009
Wednesday, February 4, 2009
Another successful day
Well i have found my nitch. I love trading these etfs. i am listing my favorites below.
BGU and BGZ large caps
TLT and TBT bonds
SKF and FAS Financials
SSO and SDS S&P 500
IWM and TWM russell
SRS and IYR real estate
GLD and DZZ gold
Each one of these are the inverse of each other. So you can basically pick up a couple points on each one each day.
Went short 300 shares of GS today. They have been trading in a channel with a lot of resistance around 90. My entry was $87.25 think it could see $80 mannana. Would be a nice $2100 day.
Been doing this full time now for about 1 month. Been making consitent money and have also had some gut wrenching days of losses. One thing i have learned is that this is a giant chess game. The day trader is at a huge disadvantage and if the you don't know the system you will lose your ass fast. Out of all the money i have made i have lost almost 40% in return. Any successful trader must lose $1 million to make $2 million.
Really think bonds are over sold. Gonna play SRS and SKF heavy tommorrow.
BGU and BGZ large caps
TLT and TBT bonds
SKF and FAS Financials
SSO and SDS S&P 500
IWM and TWM russell
SRS and IYR real estate
GLD and DZZ gold
Each one of these are the inverse of each other. So you can basically pick up a couple points on each one each day.
Went short 300 shares of GS today. They have been trading in a channel with a lot of resistance around 90. My entry was $87.25 think it could see $80 mannana. Would be a nice $2100 day.
Been doing this full time now for about 1 month. Been making consitent money and have also had some gut wrenching days of losses. One thing i have learned is that this is a giant chess game. The day trader is at a huge disadvantage and if the you don't know the system you will lose your ass fast. Out of all the money i have made i have lost almost 40% in return. Any successful trader must lose $1 million to make $2 million.
Really think bonds are over sold. Gonna play SRS and SKF heavy tommorrow.
Monday, February 2, 2009
monday
What a choppy session over all the trading was great but did lose money in one account. Trading 6 accounts can be challenge. Made over $2500 today with one account losing $600. Nailed the bonds with the TLT etf. Have pretty muched stop trading individual stocks for day trading only etfs. Currently have options on the following
ACE own march $50 puts
TLT own february 104 calls
GS own march $90 puts
All of the above in wgat i call an explosion account this account is used to double money rather quickly when i feel the market is overbought or oversold.
I think we grind around like this for a little while unless we get some kind of catalyst.
ACE own march $50 puts
TLT own february 104 calls
GS own march $90 puts
All of the above in wgat i call an explosion account this account is used to double money rather quickly when i feel the market is overbought or oversold.
I think we grind around like this for a little while unless we get some kind of catalyst.
monday
Been playing soley ETFS lately and been doing very well. The KISS rule has been nice. Think that TLT is ripe for bottom picking and a swing. Bonds have been getting hammered lately. We could buy around the 103 area and sell around the 110 area. Buy and use a $3 stop.
If the market goes down which i think it will people will look for safety in bonds
If the market goes down which i think it will people will look for safety in bonds
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