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ORCL, 3000 shares, go long at $11.10 by last bar high method, go long at $11.09 by Method D. All signals come from the 3 min chart.
Took a loss on ORCL, -$180... I have a problem setting the right stop. I introduced the 34EMA as a trend indicator. Again, I'm going against the trend.
A note to myself, I could have get a better entry price without lowering ORCL's price from $11.09 to $11.07. Since the 1 min G indicator is still moving up, even though the G indicator in the 3 min chart is dropping. I should still wait till the 1 min G indicator starts to curl down, which is now, printing $11.09.
Didn't get fill on RIMM either...
ORCL, 3000 shares filled at $11.07. Stop loss at $11.13 by Method D.
Both price didn't get filled, lowered the price to $11.07 by Method D on the 3 min chart.
RIMM, 500 shares, sell short at $90.65 by the mid point of last bar method.
3 min confirmation.
ORCL, 3000 shares, sell short at $12.12 by last bar low method, sell short at $12.09 by Method D. Today, I'm going to dump the Method P entrance method.
3 min chart, G indicator turning down, while 1 min G indicator is still trending up. 1 min chart has been confirmed, but not the 3 min chart. The sell short on last bar low trade was entered before the 1 min confirmation, because I'm following the 3 min G indicator. If the sell signal is confirmed on the 1 min chart, I would be able to sell short at a very good price. For Method D, I most likely won't be able to get the price until there is a trade confirmation on the 1 min chart. For the 3 min chart, I'm cheating the entry with the G indicator, hence I don't want to go agressive with the entrance, so I picked the low of last bar on the 1 min chart as the entrance price.
I don't bother to calulate the P&L for today, looks like flat to me.
In return, if I did go long on the flat pattern breakout, I would have easily milked 5 cents from ORCL.
Yet another runup and broke 1422, this is a super strong trend market, yet, I'm still doing shorts... I deserve to lose money.
Due to my failure to recognize how to play pattern breakdown effectively, my QLGC position has to be taken out at $42.56, lost $130. I could have taken it out with profit.
Out of ORCL, didn't get filled at $11.85, have to eat $30 loss. Failure to choose a good pattern to play pattern breakdown. I must choose some flat patterns to play with next time.
QLGC got a pattern breakdown, but my buy signal has occurred. If I take it out here, it would be $42.37. If not, I will continue to wait for $42.10. I choose to wait, because a lot of stocks are having patterns breakdown.
The NQ is also experiencing a pattern breakdown, looking for at least 3.5 points drop from here, now printing 1418.
Did not get filled on ORCL at $11.93, but it's experiencing a pattern breakdown, looking for $11.85 (half of the height) at least. Now it's printing $11.88, got it at $11.88 just to take the three cents.
Will try to cover QLGC at $42.10, based on the chart pattern breakdown, and only taking half of the height.
ORCL, 3000 shares, sell short at $11.93. The 3 min chart leads the 1 min chart. Method D and last low gave the same number.
Filled QLGC, stop loss at 1 cent above the day's high 11.53, a print of 12.54 will get us out.
QLGC, 1000 shares, sell short at $42.43, based on last bar's midpoint.
I have the NQ showing divergence with my G inidcator, will the market top out here at 1422.00?
Okay, my stop was hit.
For the last bar low method, lost $90.
For the Method D, lost $60.
I don't have a good mechanical way to take stop loss, in reality, I probably won't even hit $11.94, as the L2 screen was pretty thick.
Lunch time, I will let the stop loss to stay, and not following the buy signal to get out.
Both Method D and last low got filled, stop loss at any print of $11.94. I'm not sure if I want to set a stop loss, or just use the buy sigal to exit.
This should be a good trade because 1 min CCI went back to 100, while the 3 min CCI is going a zero line bounce, even the G indicator has started to point up, that is just a fluke... I assume. Notice that the 1 min G indicator has started to point down, a classic multiple time frames in conflict trade. This trade was based on the 1 min chart.
ORCL 3000 shares, sell short at $11.92 by Method D, sell short at $11.91 by last low. Again, I missed the Method P number...
Just check the sell signal on both 1 min and 3 min chart, this time, the 3 min chart leads the 1 min, I thought we always have 1 min leading the 3 min. I guess, when 3 min leads 1 min, the signal is strong, when 1 min leads 3 min, the signal is not as strong.
Now, I'm looking into covering, by Method D will get me out at $11.85, while taking the last bar high will get me out at $11.84. I didn't get the number for Method P. If I use the entrance price - 10 cents, I would have been out $11.83 already.
For Method D, 6000 shares for $480.
For the last bar high method, 6000 shares for $540.
For the 10 cents gain method, 6000 shares for $600.
Assume we didn't cheat the signal by the G indicator, only 3000 shares got filled.
For Method D, 3000 shares for $240.
For the last bar high method, 3000 shares for $270.
For the 10 cents gain method, 3000 shares for $300.
Entry Method D, didn't get filled. While Entry Method P got filled, $11.93.
Futures is giving a sell signal now, first time my stock and the futures going the same direction.
ORCL, 3000 shares, sell short at $11.95 (based on last low, since the method D's number doesn't look right). Sell short at $11.93, 1 cent above Method P.
In the 1 min chart, the G indicator and CCI divergence are still there, waiting for a breakdown, screaming "short me please".
I guess if I'm cheating the entry with other indicators, I should use the high of last bar, which is $11.94.
Fill 3000 shares at $11.93, getting out when indicator G does a cross over. This trade is going against the futures, I'm just betting on using a long term chart, the signal would be stronger.
ORCL, 3000 shares, sell short at $11.93 (based on last bar's low). The sell signal was generated by indicator G. This time it's based on a 3 min chart, not like the previous trade, based on 1 min charts.
The unbelievable strong uptrend of today has killed my short trades. Hence, under a strong trend day, my system would not work very well, if I do a countertrend trade. At the moment, I don't know how to identify if a super strong trend day will do a sell off or not. The pull back of today is minimal (based on my P chart, not the normal price chart), a hint for me to be careful trading my system. I probably should have waited for a meaningful pullback before trading my system again, or I should only go long.
I should have taken the SAR approach on RIMM, in reality, I'm not sure if I'm fast enough to do an SAR.
The CCI divergence of RIMM has a positive outcome, broke the support line, hence I'm able to take profit. While the CCI divergence on ORCL is still here, not broken down yet. So in theory, ORCL should still be a screaming short here, printing $11.90 at the moment.
RIMM, taking profit at $87.57, I'm hitting the ask.
Making a profit of $55 only.
Both ORCL and RIMM trades are showing CCI divergence. ORCL's loss could be just a shake.
RIMM, $87.68 got filled. Stop loss at $87.91 (1 cent above Exit Method H).
RIMM, 500 shares, sell short at $87.68 (based on Entry Method D). I missed the number to get the Entry Method P, but it should be filled by now.
Based on Entry Method P, the loss would be $210.
Based on Entry Method D, the loss would be $150.
Edit: not 1 cent below Entry Method D.
ORCL, 3000 shares, putting a sell short order at $11.91 (based on Entry Method D). Putting a sell short order at $11.89 (1 cents above Entry Method P). Stop loss at $11.96, first print on $11.96 (based on Exit Method H).
Both $11.89 and $11.91 got filled, I'm just doing a test on which Entry Method should I use. In this trade, it's still 3000 shares, not 6000 shares.
ORCL, 3000 shares, putting a sell short order at $11.91 (1 cent below Entry Method D). Putting a sell short order at $11.89 (1 cents above Entry Method P). Stop loss at $11.96, first print on $11.96 (based on Exit Method H).
In case someone is going to ask me how do I short sell on down tick, it can be done easily through INET and ARCA nowadays... it's not even an issue.
*** Starting tomorrow, for 5 days, I'm going to testdrive my new trading system here (very close to an SAR system), I will test it with multiple time frames and stocks, with different entry and exit strategies. I expect good results from this system, however, I would like to run it in real time (even though it's just paper trades here). If you somehow are reading this thread, I really can't tell you my system, because I program it, and cannot easily be explained. Of course, I don't really want to disclose too much about my system.
Stocks that I will most likely trade MSFT, CSCO, INTC, AMAT, ORCL, QQQ, BRCM, JNPR, FLEX, QLGC, NVEC, and RIMM.
For MSFT, CSCO, INTC, AMAT, ORCL, and QQQ, getting lots of shares shouldn't be a problem. The default share lot is 3000.
For BRCM, JNPR, FLEX, and QLGC, the share lot would be 1000.
For NVEC, low floater, 100 share lot would be fine.
For RIMM, the share lot would be 500.
I traded these stocks before, so I have a feel on them. Essentially, I would like to trade all NASDAQ 100 stocks.
What I want to get is to get the feel of excuting and exiting these stocks under this system. Also, how many stocks can I trade at the same time is what I'm interested to know. I would like to find a good combination, and don't stress myself out. My goal is to make at least 2k a day. All trades would be intraday swing trading trades, so I'm not scalping this time.
My commission: $1.15 per trade, unlimited amount of shares. I will omit ECN fees here, in reality, I will try to get rebate when getting in and out of a trade. I want to do 100 trades a day, that means in and out 50 times. Please do not ask me how to get this type of commission, most likely, you won't be able get it.
Remember, this thread is designed to improve my trading only. I'm the one who needs to understand how my system works, not you.
Sold JNPR at a loss, unbelievable. It did went to $9.28. What I forgot about this trade is that when the stock breaks out and there is a 200 SMA or some kind of resistance right above it, I should take my gain quickly, probably should look for a 3 cents gain.
signed,
Bernard
Got JNPR at $9.24, looking for a 5 cents gain, stop loss at $9.22.
signed,
Bernard
ORCL is strong even when the market is selling, planning to buy it when it breaks $12. Going to hold for 10 cents, at least 5 cents.
signed,
Bernard
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Moderator Bernard Ng | |||
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