8/22/07 General Trade Log / Idea Sharing

[AbeSmith 10]

Hello. Dow is up in premarket. Asian markets are up, except Nikkei which ended flat. European markets are up. Good trading.

[Jakew 10]

A fat long day

[btrader2 10]

Hello Abe,

 

You have the eye and input of some of the best traders in this forum. And your journey has become very special to me. Make it happen!

[AbeSmith 10]

Hello Abe,

 

You have the eye and input of some of the best traders in this forum. And your journey has become very special to me. Make it happen!

 

Hello btrader. Thank you for the kind words.

[AbeSmith 10]

Setup 1: -10. -10.

[brownsfan019 17]

Abe,

One request if I may - can you please turn of the shadowing on your text? It makes it very hard to read. Just uncheck the 'Drop Shadow' box on SnagIt and it should keep that format going forward until you change it again.

 

[AbeSmith 10]

This would have been a nice setup.

[AbeSmith 10]

Abe,

One request if I may - can you please turn of the shadowing on your text? It makes it very hard to read. Just uncheck the 'Drop Shadow' box on SnagIt and it should keep that format going forward until you change it again.

 

No problem.

[brownsfan019 17]

One idea Abe that just hit me - you *could* take a look at reversing a position when you take a loss. I'm just looking at your previous chart, but had you reversed and gone short on that failed long, you would have had a nice short trade. Again, this would require more testing and such, but just an idea to consider. Sometimes being 'wrong' can turn into being 'right'.

[AbeSmith 10]

One idea Abe that just hit me - you *could* take a look at reversing a position when you take a loss. I'm just looking at your previous chart, but had you reversed and gone short on that failed long, you would have had a nice short trade. Again, this would require more testing and such, but just an idea to consider. Sometimes being 'wrong' can turn into being 'right'.

 

I agree Brownsfan. The thought crossed my mind to reverse the position but I was concerned that I might get into over trading and impulsive trading. I'm also used to logging a trade right after it is finished which allows me to record it more accurately.

[AbeSmith 10]

Setup 2: +10. +1.

[AbeSmith 10]

Unintentional trade: For some reason there was a buy limit order that did not get canceled so it triggered 2 buys at 13230. Quickly sold them at 13231. +1. +1. I guess I should log this also to make it accurate.

[AbeSmith 10]

Setup 3: -6. -6.

[AbeSmith 10]

Setup 4: -10. -10. Looked good on the one minute chart, but using the 15 minute as an anchor it doesn't look as good. It looks like I'm only $5 away from my $200 loss limit.

[brownsfan019 17]

Unintentional trade: For some reason there was a buy limit order that did not get canceled so it triggered 2 buys at 13230. Quickly sold them at 13231. +1. +1. I guess I should log this also to make it accurate.

 

Abe,

When using the OEC software, there are a number of protections on the DOM to avoid this.

 

You can use either of the cancel buttons (each above the bid and ask) or the cancel all, which I use a lot to be safe. So once I am completely out of a trade, I will hit the Cancel All Button to avoid the situation you just described. I would get in the habit now of hitting that button.

 

 

 

 

On the DOM as well at the bottom are any resting orders as well:

 

 

 

 

Also, you should be using the main screen on OEC - the part that is separate from the DOM and you can have an Open Orders window up. If you see something there, you can also hit cancel all there as well!

 

[AbeSmith 10]

Thanks Brownsfan. That's good to know.

[AbeSmith 10]

Setup 5: +10. +8. Used the DOM on this one.

[AbeSmith 10]

My trading summary today:

 

5 setups. 11 roundtrips. -21 net points. Realized paper loss of $151.86.