Tried to short Heinz (HNZ) during the open but my stop got hit. I should have used the daily chart to find resistance. Instead I didn’t set my stop high enough. Also my position size was too big.
From 1pm to 2pm market was in a range. That’s why I entered contra a few times and the entries failed. I should have kept an eye on major averages and market internals and I would have picked up on the fact that the market had soured.
I had to “scratch” my contra entries. Then I [...]
This was a technical mistake. Major Averages opened lower and tanked.
I entered against the trend too early. The retracement started when the retracement of the Major Averages started, just after 10:00.
The retracement of the Major Averages would have been my ’signal’ to enter as WYNN generally follows the general market.
I need to keep in mind [...]
Scoured the news. After the first five minute bar shorted JOYG. I thought probabilities favored price would try to close the gap. It worked out. This was a counter-trend entry.
Stock got an upgrade in the morning. Price partially filled the overnight gap and at about 10:30 commenced big move up, trending for the rest of [...]
Hartford Financial Services Group Inc. (HIG). Intention was fade the open. Shorted at 9:47 on the first hint of weakness. Covered 13 minutes later for a profit. Intention was to scalp using a meaningful position size. Price moved in the direction of the opening gap within the first half hour. Had I kept this trade [...]
WYNN. I entered at minor support. Yesterday’s low would have been better. Had to sell due to max loss per trade rule.
The contra-trend entry was a good idea, but timing was slightly off. I bought support but I bought minor support instead of yesterday’s low.
The trade to the left was in National Oilwell Varco, Inc. [...]
Ev3 Inc. (EVVV). Healthcare stock. I was thinking this issue would tank like Genzyme did when there was contamination news. The news on Ev3 was something about recall of messed up catheters.
This proves trader is not smart enough to know how news will affect the stock.
I fantasized this stock would really tank but as you [...]