A Daytrader's Diary
Facing the inner demons everyday in the (futile?) attempt to conquer the markets and make a buck.
Monday, May 22, 2006
Monday, July 04, 2005
This was definitely the highlight of yesterday's Sunday paper. Very funny stuff.
http://www.doonesbury.com/strip/dailydose/
Wednesday, June 08, 2005
Hello. You know, I never properly said goodbye, did I? I just stopped writing, which was mighty rude of me. Anyway, for some reason this abandoned blog keeps getting its steady flow of hits. Nothing spectacular, but 40 to 50 or so hits a day which was 40 to 50 or so more than I ever imagined I'd be getting. For what? For anything, I guess. Maybe it's the government! Heck, I check in once in awhile, too, half-expecting to see something new and witty magically appear. But I'm nuts. What's your excuse? Anyway, I'm drying up and feeling a second wind coming on. Maybe it's just gas, though. We'll have to see.
Wednesday, May 04, 2005
Tuesday, May 03, 2005
89 tick ER chart on Sierra from this afternoon.
I'm not sure if this is an example of luck through perseverence or an example of luck winning over sad nervous nelliness. In this timespan, I "spotted" 4 short opportunities and took 3 of them. Actually I see 5 now.
#1 - I was watching the ER triangle play out this afternoon. It broke down from the triangle, tested the bottom line again (which coincided with a downsloping 14/34), so I shorted once it was below the bottom triangle support/34 again. It hit the 144 and another triangle support. I'm no expert at drawing trendlines for some reason, so I had two possible bottom lines drawn. I got stopped out be + 1.
#2 - Price hit and rejected down off the tip of the triangle, so I'm short again below the 34. Trade goes my way again initially, but I bailed with a 2 tick loss.
#3 - Maybe the best entry with a confluence of sigs happening. I didn't take the entry. Why? Dunno. I was seeing everything line up and didn't take it. Watching too many things on the chart? Still thinking about the points I gave back? Picking a piece of purple cabbage stuck between my teeth? Probably all of the above.
#4 - 14/34 crossover and separation. Price retested 34 from below, retested the bottomest triangle resistence line and slid under the 144. Good for a short. These factors actually lined up twice, now that I look at it again, and I entered the 2nd time a minute after the 1st. That was the screamer as the ER finally fell off the cliff. +37 ticks.
I have to say I probably wouldn't have played any triangle if it didn't come up in chat from somebody. My chart isn't big enough or scrunched up enough to see a larger formation like that usually, plus I'm not good with trendlines. The 34 was too flat also, but with that triangle in my mind on now on my chart, I had a short bias that wouldn't go away. I didn't trade in the morning, so I was anxious to do anything, which is always bad.
I'm calling this a lucky trade regardless. I'm thinking ideally I would've stuck with just the initial entry, stayed firm with my initial stop and a mere four minute hold would've gotten comfortably in the barrel anyway for the ride down. Instead, I was leaping in and out, pausing and second guessing every second I was in and triple guessing every moment I was out. I could've just as easily missed the big move. If it's all about being in the "zone" and perfecting the "process" so that it can be repeated, then I guess I'm right for feeling pretty lousy. Still, I'm wondering if that's a good thing or whether that's a product of a diseased self-critical mind.
notes: I've changed my short MA from 9 to 14. Using it for my exit, I found the 14 holds the move better while practically crossing the 34 at the same point.
I've also changed the drbob 50 CCI to the fearless 79 CCI. After Woodie expands to 20 rooms, I'll do an unannounced impromptu seminar on it in the 17th room if we can kick the Amish people out of it.
This is still too much shit to be looking at. Granted, I'm still not confident enough to trade with a single edge. Trading two contracts and taking a small first target would also help matters. For now, I need an edge and a filter and a nuance and confirming edge with a filter, and even if I don't look at them all or use them all, they're always good to have so I can change their colors and thickness when not trading. Isn't this what all professional traders do? I mean when we're not busy blogging.
Fearlessbaby is fine. We bumped up his 15 month dr's appointment a couple weeks to this afternoon, since he's flying overseas on Sunday. Last visit, he was terrified and freaking out the moment he saw the doctor. He's getting smarter everyday so I was wondering if he would start freaking out in the parking lot or waiting room this time. Nope. He was happy-go-lucky and clueless in the waiting room. He freaked out at the same moment, when we walked into the doctor's office. The nurse said they usually start freaking out in the waiting room when they're around 18 months. Anyway, it's all traumatic stuff for kids. I can still remember pestering my mom before a doctor's appointment. I'd ask, "There isn't going to be a shot this time, is there, Mom? For real, Mom? You promise, Mom? How do you know for sure, Mom?" I always got a shot and right before it I'd shoot a glance of betrayal at Mom for "lying" to me.
My wife has loaded up on beef jerky at Costco for her trip. Her mom did the same thing when she was here and getting ready to go home. If you ever visit Korea, make sure you bring beef jerky. They love that stuff. I don't know why. It always makes a good gift anyway.
I've never been big into jerky. I remember as a kid once, out of the blue, my Dad decided to buy half a cow and make homemade jerky. We were NYC people. We didn't know from jerky. I never even had a slim jim before. I ate Sabrett's and Nathan's dogs for our meat. Anyway, we were living in the suburbs now, so I guess he figured this was what country folk did. He had a nice meat slicer too. I'm not sure if he bought this specifically for the big beef jerky project or whether we always had it. He never used it before that or since. It just lived taped up in plastic bags on top of the back of fridge.
Well Dad sliced up a ton. Some thick, some razor thin, some in between. He was experimenting since he didn't know what he was doing. He marinated it in teriyake sauce and pepper and then laid them all out flat. He treated it just like he did his potted plants. During the day, they were laid out on mats and newspaper out in the sun in the backyard. During the night, he brought them all inside to fill the house. Eventually it dried to his liking and we had this lifetime supply of beef jerky. It was okay. I think outdoor drying and getting the right amount of fly shit on it is the real secret to good tasting jerky. We all got sick of it, though. We couldn't give it away fast enough. Luckily, beef jerky always makes a good gift and we got rid of it fast. Can't say the same for the lifetime supply of orange peel candy my Mom once made.
I'm not sure if this is an example of luck through perseverence or an example of luck winning over sad nervous nelliness. In this timespan, I "spotted" 4 short opportunities and took 3 of them. Actually I see 5 now.
#1 - I was watching the ER triangle play out this afternoon. It broke down from the triangle, tested the bottom line again (which coincided with a downsloping 14/34), so I shorted once it was below the bottom triangle support/34 again. It hit the 144 and another triangle support. I'm no expert at drawing trendlines for some reason, so I had two possible bottom lines drawn. I got stopped out be + 1.
#2 - Price hit and rejected down off the tip of the triangle, so I'm short again below the 34. Trade goes my way again initially, but I bailed with a 2 tick loss.
#3 - Maybe the best entry with a confluence of sigs happening. I didn't take the entry. Why? Dunno. I was seeing everything line up and didn't take it. Watching too many things on the chart? Still thinking about the points I gave back? Picking a piece of purple cabbage stuck between my teeth? Probably all of the above.
#4 - 14/34 crossover and separation. Price retested 34 from below, retested the bottomest triangle resistence line and slid under the 144. Good for a short. These factors actually lined up twice, now that I look at it again, and I entered the 2nd time a minute after the 1st. That was the screamer as the ER finally fell off the cliff. +37 ticks.
I have to say I probably wouldn't have played any triangle if it didn't come up in chat from somebody. My chart isn't big enough or scrunched up enough to see a larger formation like that usually, plus I'm not good with trendlines. The 34 was too flat also, but with that triangle in my mind on now on my chart, I had a short bias that wouldn't go away. I didn't trade in the morning, so I was anxious to do anything, which is always bad.
I'm calling this a lucky trade regardless. I'm thinking ideally I would've stuck with just the initial entry, stayed firm with my initial stop and a mere four minute hold would've gotten comfortably in the barrel anyway for the ride down. Instead, I was leaping in and out, pausing and second guessing every second I was in and triple guessing every moment I was out. I could've just as easily missed the big move. If it's all about being in the "zone" and perfecting the "process" so that it can be repeated, then I guess I'm right for feeling pretty lousy. Still, I'm wondering if that's a good thing or whether that's a product of a diseased self-critical mind.
notes: I've changed my short MA from 9 to 14. Using it for my exit, I found the 14 holds the move better while practically crossing the 34 at the same point.
I've also changed the drbob 50 CCI to the fearless 79 CCI. After Woodie expands to 20 rooms, I'll do an unannounced impromptu seminar on it in the 17th room if we can kick the Amish people out of it.
This is still too much shit to be looking at. Granted, I'm still not confident enough to trade with a single edge. Trading two contracts and taking a small first target would also help matters. For now, I need an edge and a filter and a nuance and confirming edge with a filter, and even if I don't look at them all or use them all, they're always good to have so I can change their colors and thickness when not trading. Isn't this what all professional traders do? I mean when we're not busy blogging.
Fearlessbaby is fine. We bumped up his 15 month dr's appointment a couple weeks to this afternoon, since he's flying overseas on Sunday. Last visit, he was terrified and freaking out the moment he saw the doctor. He's getting smarter everyday so I was wondering if he would start freaking out in the parking lot or waiting room this time. Nope. He was happy-go-lucky and clueless in the waiting room. He freaked out at the same moment, when we walked into the doctor's office. The nurse said they usually start freaking out in the waiting room when they're around 18 months. Anyway, it's all traumatic stuff for kids. I can still remember pestering my mom before a doctor's appointment. I'd ask, "There isn't going to be a shot this time, is there, Mom? For real, Mom? You promise, Mom? How do you know for sure, Mom?" I always got a shot and right before it I'd shoot a glance of betrayal at Mom for "lying" to me.
My wife has loaded up on beef jerky at Costco for her trip. Her mom did the same thing when she was here and getting ready to go home. If you ever visit Korea, make sure you bring beef jerky. They love that stuff. I don't know why. It always makes a good gift anyway.
I've never been big into jerky. I remember as a kid once, out of the blue, my Dad decided to buy half a cow and make homemade jerky. We were NYC people. We didn't know from jerky. I never even had a slim jim before. I ate Sabrett's and Nathan's dogs for our meat. Anyway, we were living in the suburbs now, so I guess he figured this was what country folk did. He had a nice meat slicer too. I'm not sure if he bought this specifically for the big beef jerky project or whether we always had it. He never used it before that or since. It just lived taped up in plastic bags on top of the back of fridge.
Well Dad sliced up a ton. Some thick, some razor thin, some in between. He was experimenting since he didn't know what he was doing. He marinated it in teriyake sauce and pepper and then laid them all out flat. He treated it just like he did his potted plants. During the day, they were laid out on mats and newspaper out in the sun in the backyard. During the night, he brought them all inside to fill the house. Eventually it dried to his liking and we had this lifetime supply of beef jerky. It was okay. I think outdoor drying and getting the right amount of fly shit on it is the real secret to good tasting jerky. We all got sick of it, though. We couldn't give it away fast enough. Luckily, beef jerky always makes a good gift and we got rid of it fast. Can't say the same for the lifetime supply of orange peel candy my Mom once made.