March 23

No trades today, Day job got in the way. The same for most of this week. Did I say how much I hate my Day Job?

March 20th

I got a slow start this am, not making my first trade until 11:00 am. So, I picked up 64.5 cents per share on three trades, two of which represented a "double-down" for a better average price. A "day-job" appt kept me away until near the end of day. I worked in 3 more trades from 3:36 pm to 3:51. The final trade was my first loss of the day (-3 cents)and a result of what appears to be a bad fill; I was showing profit of about 15 cnets when I clicked to sell. More than likely though, it was just the volume rush that caused the slow execution.
One thing is certain, I am feeling more comfortable trading in this style. I am trying to refine my entries and exits, managing risk, and focused on selectivity instead of the frenetic click and hope of last week. While my gains are not as strong, my panic factor is deeply reduced! I'd rather pick up 75-80 cents per share on 8 trades than a bit more gain on 25 trades and be white-knuckling all day. I find that for the most part, I am getting very decent, early entries on nice moves. I am selling them much too soon, however. e.g. my long on the SKF chart at 3:36 pm. I was in at $124.76 (green line on chart) and sold at $125.11 (red line) for a gain of about 33 cents per share. When you see the move that followed however, you'll see what I mean by bailing out early. On the three-minute chart, it went up 4 continuous green candles to a high of $129.38; a full $4.27 per share more than what I took from it. I got only 7 % of the entire move after going long a scant 31 cents above the bottom. Talk about impatient....
I can't complain though. I took a gain for that trade and for the day.
A good week-end to all! Spring began today and the snow is disappearing here in Maine. A rebirth is just a whisker of time away!

5 for 6 winners, an 83 % win rate. Gain of $1.03 per share.

March 19th

A little different approach today, scaling back on the trades and looking for more reliable entries... with an emphasis on looking more than clicking! I saw many moves I'd like to have pulled the trigger on. Most of them were solid trades, too. But a couple weren't. Instead of getting into many trades and focusing on them, I was studying the movement of price and volume.
One move I made today was new to me and that is getting the "breaking news bulletin" off CNBC that the Gov't was to offer money for the auto parts suppliers. Thanks to moving a tv into my office last week-end, I am able to catch some of these headlines. After the news, I thought immediately to punch up AXL on the Quotetracker and prepare a trade. I was so early that I actually saw AXL at rest and then watched it take off. More interested in watching than trading that first move, I did get a short on the first reversal. Then I watched the action which followed. That was pretty much the highlight of the day for me, even though it was not the most profitable trade of the day. My two losing trades today were because of very poor fills on trades which were solidly profitable when I clicked the mouse. This is evidenced by the dollar amounts: -$8 and -$15, essentially flat trades if you don't factor in the commissions.
Today's paper-trades took place between 9:45am and 1:45pm on three stocks; GS, SKF, and AXL.

5 for 7 winners for a 71% win rate. 71 cents per share gain.