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FAS: Down 400+

Posted by Satuki On February - 3 - 2009

I lost 400+ on 2 long FAS trades today. I broke one of my rules on the first trade ,which I did not realize. So I took the second trade. Both of them died. After the second loser, I realised that the first trade was lost because I traded a “pattern” that I never saw before. That “pattern” was no pattern at all. In other words, it was a forced trade. The second trade was fine even if it was a loser. As a self-imposed punishment for breaking my rules, I stopped day trading for the day right after the second trade and I will not day trade tomorrow either. Only Swing trades are allowed for now.

 

As for swing trading, I am long on POT. LEAP, and HES. HES and Pot are my pets. And LEAP is new. Here is my portfolio. Let’s see how they play out.


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  • CJ Hawkes

    Which pattern are you talking about? Do you look at the Intraday, 5 days, or 3-6months chart for patterns? Trying to learn technical analysis and your blog is very helpful, thank you.

  • CJ Hawkes

    Which pattern are you talking about? Do you look at the Intraday, 5 days, or 3-6months chart for patterns? Trying to learn technical analysis and your blog is very helpful, thank you.

  • http://www.momdaytrader.com/blog/ Satuki (Trader Mom)

    @CJ Hawkes, There are so many different patterns. Here are a few good books http://search.barnesandnoble.com/booksearch/results.asp?ATH=Thomas+N%2E+Bulkowski
    These books are recommended by David. I like them a lot.

    @jrlearner. Quite a few people asked me that too. If I need to post my swing entries in real time, I would have to check my swing account from time to time, which distracts me a lot, After all, my mission is to trade well instead of sending stock alerts. That is the most important reason, Here are other reasons I explained http://www.momdaytrader.com/blog/2009/01/21/how-to-track-my-stock-portfolio/.

  • http://www.momdaytrader.com Trader Mom

    @CJ Hawkes, There are so many different patterns. Here are a few good books http://search.barnesandnoble.com/booksearch/results.asp?ATH=Thomas+N%2E+Bulkowski
    These books are recommended by David. I like them a lot.

    @jrlearner. Quite a few people asked me that too. If I need to post my swing entries in real time, I would have to check my swing account from time to time, which distracts me a lot, After all, my mission is to trade well instead of sending stock alerts. That is the most important reason, Here are other reasons I explained http://www.momdaytrader.com/blog/2009/01/21/how-to-track-my-stock-portfolio/.

  • http://none.com/ jrlearner

    I mean, when you enter and exit your swing trade or maybe just your entry price.

  • http://none.com jrlearner

    I mean, when you enter and exit your swing trade or maybe just your entry price.

  • http://www.momdaytrader.com/blog/ Satuki (Trader Mom)

    @jrlearner, 1. I only check my swing account 2-3 times during the market hours, which helps me control my emotions. 2. During the day, I need to focus on my day trading.

    In fact, I can post my swing positions between 4:00 PM and 8:00 PM, during which stocks are still traded. So It does not distract me from my day trading.

  • http://www.momdaytrader.com Trader Mom

    @jrlearner, 1. I only check my swing account 2-3 times during the market hours, which helps me control my emotions. 2. During the day, I need to focus on my day trading.

    In fact, I can post my swing positions between 4:00 PM and 8:00 PM, during which stocks are still traded. So It does not distract me from my day trading.

  • http://none.com/ jrlearner

    Thanks trader Mom.

  • http://none.com jrlearner

    Thanks trader Mom.

  • jack briscoe jacko

    Love your comments… I try to read them everyday… Tell me, what books do you recommend for your trading stragities?

    Thanks,

    Jacko

  • jack briscoe jacko

    Love your comments… I try to read them everyday… Tell me, what books do you recommend for your trading stragities?

    Thanks,

    Jacko

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