belflan's US stock intra day trades

[rajibde]

Hi Raj,

I seem to remember that you recently posted that your technique involved cutting quickly and that you were having great success with this, with mostly winners.

I do congratulate you on your success, but, wonder now based on your post above if this is still the case, and if so, can you open up this question by explaining your technique more fully first for all. Now, if indeed, your success has waned a little, I wonder, if you could perhaps explain why you think that is. Would be most enlightening.

Thanks,
Frank.

Hi Frank,

The entries seem to be getting better and the exits from proitable trades have slightly (only very) improved too (I still leave a load on the table)- my biggest issue seems to be for the times when the trade goes against me right at the start- the drawdown becomes quite large in these situations- I'm trying to find an optimum way which can indicate a bit early about the need to exit....

Raj

 

[Trader333]

Either way, it is not a nice situation to be confronted with, but, it is trading !!!

It may not be nice but it is essential that everyone does face this and know how they will respond when they do.


Paul

 

[belflan]

short amzn

 

[vegas]

Just found this on exit from one of Grey1's posts-

The advice was to exit as soon as any capitulation/euphoria is detected while holding a position.

Hi Frank thanks for your post-I normally wait, as you mention in your post, for the indu to turn for an exit for a loss making position but most of the times by the time the indu turns against my position, my stock has already turned quite a lot ....

Any other thoughts at all?

Hi Raj,

Well all I can suggest is to either reduce your position size (as if you are uncomfortable it is a sign) or to use a lower timeframe for exit. It is a difficult scenario and one that I too struggle with from time to time.

Frank.

 

[vegas]

Hi Frank,

The entries seem to be getting better and the exits from proitable trades have slightly (only very) improved too (I still leave a load on the table)- my biggest issue seems to be for the times when the trade goes against me right at the start- the drawdown becomes quite large in these situations- I'm trying to find an optimum way which can indicate a bit early about the need to exit....

Raj

Hi Raj,

I (I'm sure like us all) am finding that the cycles are not as 'bell shape' as usual, and so are much more difficult to trade off, without assuming more risk, and I think that is the key point, are you willing to do this.....if not maybe you should reduce position size.

Glenn, as usual, makes some very valid and interesting points for consideration.

Cheers,
Frank.

 

[vegas]

It may not be nice but it is essential that everyone does face this and know how they will respond when they do.


Paul

So true Paul. This is why (and not trying to 'have a dig at you Glen'.......well actually why not !!!!!....lol), you can only learn so much about yourself through paper/sim trading. When you are $700 down with the MACCI still 'on your side' this is when you will learn about yourself............

 

[belflan]

last chance for macci (5 & 10min) to turn, or i look for exit on amzn

 

[belflan]

'have a dig at you Glen'.......well actually why not !!!!!.

easy you (insert slightly nervous laugh)

 

[belflan]

you can only learn so much about yourself through paper/sim trading. When you are $700 down with the MACCI still 'on your side' this is when you will learn about yourself............

hear what your saying, but for now (next 4months or so) I'm trying to learn about the markets. Next 6 months after that i'll deal with the 'me' bit in live trading.

I think I know so little about the US markets that to jump in would be a licence to burn money (my money)

again many thanks for your input

Glen

 

[belflan]

exit amzn

 

[brutusdog]

So true Paul. This is why (and not trying to 'have a dig at you Glen'.......well actually why not !!!!!....lol), you can only learn so much about yourself through paper/sim trading. When you are $700 down with the MACCI still 'on your side' this is when you will learn about yourself............

The key thing imo is to be consistent. you have to be able to say each time i want to be in this until such and such happens.

Do not say when im x or y amount down i will cut the trade.

Work out what will mean you got it wrong or that simply this one is just not happening, either news / non technical.

There will always be a level at which you do not want to be there anymore.

 

[belflan]

long rimm and aapl

 

[belflan]

loss on amzn trade

= $96

 

[belflan]

reason for exit on amzn, market strong tonight +100, didn't think the macci would pull it lower. Got market direction wrong

 

[vegas]

hear what your saying, but for now (next 4months or so) I'm trying to learn about the markets. Next 6 months after that i'll deal with the 'me' bit in live trading.

I think I know so little about the US markets that to jump in would be a licence to burn money (my money)

again many thanks for your input

Glen

Glen I know we have a tendency to 'rib' each other, which is all good fun, however, my comment was'nt directed at you, honest gov.....it is a personal 'learn', I know that you have traded 'live' yourself in the past, but, I (just I) wish I had never wasted my time in the past on paper/sim.....

Of course, you are your own man, and have your own reasons.....geeze, maybe I should have posted on a separate thread !!!!

Cheers

 

[vegas]

The key thing imo is to be consistent. you have to be able to say each time i want to be in this until such and such happens.

Do not say when im x or y amount down i will cut the trade.

Work out what will mean you got it wrong or that simply this one is just not happening, either news / non technical.

There will always be a level at which you do not want to be there anymore.

So true. You must follow your rules when in a trade...you can change them later..:whistling

 

[belflan]

will be look for exit on those longs next 10min or so

10min curing over abit

 

[belflan]

exit rimm and aapl longs

 

[belflan]

aapl loss = $107

rimm loss = $160

reason for exit 10min macci turn

 

[belflan]

was going to short Amzn on that spike up, but missed it