Thursday, August 14, 2008

Daily Journal +0.35R

Slowly but surely, I'm gaining confidence again, after reading http://theimpatienttrader.blogspot.com/2008/08/position-sizing-finding-your-max-pain.html by stewie, I decided that I could higher my R by 5$, I am trading good lately, no critical mistakes, and I intend to keep it that way.

After such a long time I'm posting charts! whenever I post charts I trade better, so I will post more charts from now on, today I've made only 2 trades, both were positive overall (but a little), I put my stops too low, I'm not sure why, so the results are small profits.


NVDA:

I saw NVDA breaking yesterday's highs, so I immediately took whatever position I could once I saw it, but I put the stop below the day's low, which was 60 cents away, on a 12$ stock it means my profits will come only if it will make a $+, which is 9%, very unlikely, but happens, anyways here are the charts:




CTRP:
It was #1 on the gappers list, so I saw it early, and I liked the fact that it keeps going up, at the time I saw it, it seems like there's no stopping for it, usually it keep going, and I'd hate to miss it :)
This one is most frustrating, even though I only took 30 shares (lack of confidence in setup), it went so high once I sold it. I sold it after being impatient.


That's it for today, feels like I started trading again, as a new man, without those fullish emotional trades that I made, I'm gaining confidence in myself again and that's the best thing, after seeing all of those big # on DT's blog, I still think its the right thing to do (to trade), I've had my doubts, but I think that once I'll master it, it will be a nice source of income that suits my lifestyle :)

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