Edgar's Stock Market Trading Log

[edgararakelyan 10]

Hi, I had an aapl trading log and I thought that it would probably be better if I just made an overall trader's log.

 

 

Right here you got PCLN, obviously this stock's looking really good. It broke the resistance it had at 680 and is now booming onto 720. Considering that this stock still has very good volume, it could reach to 740 and find resistance there. Will most likely get into some sort of trade with this stock tomorrow.

[edgararakelyan 10]

 

Here you can see that aapl broke through the resistance (the andrew channel) and went on higher yet at the end of the day it looks almost like aapl formed a head and shoulder pattern so we'll have to see if it can test and hold the support line.. Which being that this is a 1 minute chart i'm not sure if it's reliable or not.

[edgararakelyan 10]

Something neat, look at how similar aapl's weekly and 1 min chart lookalike.

 

 

[edgararakelyan 10]

I made a very rash decision today in attempting to make a quick trade of aapl. I bought aapl at 557.9 and knew that I would not be infront of the screen for a few hours only because I wanted to make a trade and make money because I hadn't made or lost money this week. Well now i'm probably in a losing trade, I thought I shouldn't sell and maybe wait for what happens tomorrow which i'm guessing it will drop to 440 and find support, possibly go back up and then I will be able to sell.

 

Hopefully it is in consolidation in the 455-460 area again tomorrow and I can sell at a profit or break even but the increased amount of volume at the end of the market day tells me it probably won't.

 

But some good news is that it went to 456.4 during afterhours, which does it make a difference at all?

[wsam29 10]

I made a very rash decision today in attempting to make a quick trade of aapl. I bought aapl at 557.9 and knew that I would not be infront of the screen for a few hours only because I wanted to make a trade and make money because I hadn't made or lost money this week. Well now i'm probably in a losing trade, I thought I shouldn't sell and maybe wait for what happens tomorrow which i'm guessing it will drop to 440 and find support, possibly go back up and then I will be able to sell.

 

Hopefully it is in consolidation in the 455-460 area again tomorrow and I can sell at a profit or break even but the increased amount of volume at the end of the market day tells me it probably won't.

 

But some good news is that it went to 456.4 during afterhours, which does it make a difference at all?

 

A pit trader said to the TST group once, "Look for a trade, not trade for a look"

 

The temptation to make money is always knocking on all our doors, have the discipline to stick to your plan.

[edgararakelyan 10]

aapl really looks screwed now.

 

 

aapl broke it's support and retested it and fell. We will have to wait and see tomorrow if it can reach back into the Andrew Channel and given the fairly low volume it could.

 

 

If it cannot support itself then it can drop down to 420-425 and then even possibly to the 350s.

 

Given this enormous fail that aapl has been lately, I think I will cover my position at 457.9, which the loss will be about as much as my profit have been this past month, but if it does go awry a lot of money can be made shorting.

[edgararakelyan 10]

Luckily with the rally that we had this morning, I sold out of my position of 457.9 at 457.1 and lost very little, mostly commissions.

[edgararakelyan 10]

 

aapl looks like it has found support in 457 and if it can hold and push it may be able to fill the gap back into 500. The only unsettling thing is that the volume isn't very high. It would also find resistance at 464. Also according to fibonnaci retracements from aapls prior gap down at 500 down to 437 aapl should retrace atleast to 470.

[edgararakelyan 10]

 

I am in aapl shorting it at 457.19 because of the converging support/resistance and I find it more likely that aapl will break the support rather than the resistance because of the lack of volume and that the price couldn't survive above the resistance for long.

[edgararakelyan 10]

sorry I've been extremely lazy and forgot about updating the thread. Well I covered my short of aapl at 474 at a pretty high loss, learned from my mistake so it's alright. Then I rebought aapl at 475 and sold this morning at 483 at a nice profit.

[edgararakelyan 10]

 

aapl's lookin pretty good, it successfully tested the support and increased on high volume then decreased on very low volume. Looks like aapl will try to fill in the gaps at 486-510.

[edgararakelyan 10]

 

haven't made a trade since the last one I posted but may be making one soon enough, aapl looks like it can support itself with that support line as it has tested it several times.

 

 

Here you can see that aapl could possibly have a nice rally soon indicated by the downtrend of volume

[edgararakelyan 10]

Will short aapl if it can break the support and test it as a resistance which I think may happen.

 

[edgararakelyan 10]

quick update. I've had a few successful trades this past month but this morning I covered a short of aapl at 433 at 423. will post my view on aapl in a sec.

[edgararakelyan 10]

 

If aapl drops below this trendline on heavy volume, it won't find support until 400/390 so i'm prepared to go short again if it does.

[edgararakelyan 10]

 

support would be found in the 405s then onto the 390s and then onto 360s.

[edgararakelyan 10]

This market day I shorted aapl at 429.28 and held mainly because I believe aapl is more likely to test its support in 415 then break resistance at 435 considering that the only reason aapl bounced today was because of the announcement of the iWatch which is why I saw this as a nice opportunity to short.

 

 

Edited March 6, 2013 by edgararakelyan

[Niko 10]

Edgar, hi.

 

What kind of analysis do you use to define entries?

[edgararakelyan 10]

I covered my position on aapl this morning at 427 because of two reasons. One, I don't like trading a stock that is in consolidation and also because I had school which limited my screen time. I still came out with a small profit and that's fine enough for me.

[edgararakelyan 10]

Edgar, hi.

 

What kind of analysis do you use to define entries?

 

I find support and resistance and analyze it with the volume in order to better predict which way the stock will go, using other tools such as fibonacci, etc I can determine where the stock will likely head for me to sell or if it were to not go my way I could get out at a smaller loss.

[Niko 10]

Have you been to the Wyckoff forum, sounds like you could contribute and learn a lot from what is in there.

[edgararakelyan 10]

Have you been to the Wyckoff forum, sounds like you could contribute and learn a lot from what is in there.

 

Oh, wow thanks, that guy trades much like I do. I'm going to read that pdf that's on the forum.

[edgararakelyan 10]

Last trading day I shorted aapl at 433 and currently I am still holding and plan to sell once it reaches 420 or if it drops to 405.

[edgararakelyan 10]

The reason why I went short on aapl at 433. aapl tested its resistance of 435 at 500k volume, then again it tried on twice that, with 1.2 million and immediately retraced down. Today it reached the resistance on 500k volume at its peak, obviously the chances of it breaking the resistance are low because it was able to push back a up move with a volume of 1.2 million. Therefore you can conclude that aapl was moving without cause(volume) and therefore it will 90% of the time be pushed back below its resistance granting you a profit. Plus I can keep my hopes up that aapl will gap down tomorrow to 420 and from there to 405.

[edgararakelyan 10]

an update, sorry for posting these way too late but you can forgive me, I can get busy sometimes. Well I ended up covering my short at around 427 and then I shorted aapl again at 433 and covered at about 428 and today I shorted aapl again at 431 and am currently holding my short.