RealityTrader Trading Log

Friday, May 18, 2007

Realitytrader TradeLog - May 18, 2007

Session Start: Fri May 18 00:00:00 2007

Session Time: Fri May 18 00:00:00 2007

[04:57] {Roman} AQNT aQuantive: Microsoft to acquire aQuantive for $66.50/share (35.87 ) -Update-
[05:00] {Roman} VCLK ValueClick spikes 1 dollar pre-mkt following AQNT acquisition (27.88 ) -Update-
[05:11] {craigaudio} gm roman, everyone
[05:11] {Roman} gm craig
[05:12] {DaveG} morning
[05:35] {DaveG} GERN gapping
[05:35] {Roman} gm Dave
[05:35] {DaveG} hey roman
[05:35] {Roman} how are u doing in the challange?
[05:36] {DaveG} 15th in the finals
[05:36] {Roman} is it over?
[05:36] {DaveG} no
[05:36] {DaveG} it ends next friday
[05:38] {Roman} good luck
[05:38] {DaveG} thanks :)
[05:38] {Roman} any prices for the top 10?
[05:38] {Roman} if not 1rst?
[05:38] {Roman} prizes
[05:38] {DaveG} no
[05:41] {DaveG} i've already won
[05:41] {DaveG} i got a great new job :)
[05:42] {cosmo} gee ... where?
[05:43] {cosmo} el segundo?
[05:43] {DaveG} no, i'm living in Illinois now
[05:43] {cosmo} ah...IL
[05:44] {cosmo} black triangle country
[05:44] {cosmo} if you're into watching for such things
[05:45] {DaveG} i don't know what that is
[05:45] {cosmo} latest in UFO's
[05:45] {DaveG} oh
[05:45] {cosmo} maybe ours too
[05:45] {cosmo} who knows
[05:46] {DaveG} i'll ask when i see them
[05:46] {cosmo} pleas do
[05:46] {DaveG} :)
[05:46] {cosmo} :)
[05:46] {Roman} what's the job Dave?
[05:46] {DaveG} trading
[05:46] {Roman} equities?
[05:47] {DaveG} yes
[05:47] {Roman} for a prop firm?
[05:47] {DaveG} not yet
[05:47] {DaveG} i'm the first equities trader for a firm that mostly trades commod
[05:48] {DaveG} fslr losing ground
[05:49] {DaveG} it's a salaried position
[05:49] {craigaudio} congrats on the job dave. whats the competition you go on about
[05:49] {DaveG} ty
[05:49] {DaveG} cnbc
[05:50] {craigaudio} so youve been on TV then?
[05:50] {DaveG} my name has
[05:50] {craigaudio} oh and how does the comp work. what do you do?
[05:51] {Threei} it's just who can slap others with trout more per minute craig
[05:51] {DaveG} http://contests.cnbc.com/milliondollar/main.do
[05:51] {Threei} and dave gort fantastic training here
[05:51] {Threei} good morning :)
[05:51] {DaveG} you bet
[05:52] {Threei} hes slaps per minute rate is twice of the closest competitor
[05:52] * DaveG slaps Threei around a bit with a large trout
[05:52] {Threei} there
[05:52] {DaveG} OMR doubling on news
[05:52] {craigaudio} what stocks in your portflio dave?
[05:53] {DaveG} hk
[05:54] {dino} gm all
[05:54] {_ted123} hi
[05:54] {Threei} dino, ted :)
[05:55] {dino} gj and gl dave
[05:55] {DaveG} ty :)
[05:57] {gabby} what happened to AQNT??
[05:57] {Threei} buyout
[05:57] {DaveG} bought out
[05:57] {gabby} tks wow
[05:57] {dino} msft doing the deed
[05:58] {gabby} theres an overnight hold
[05:58] {Roman} call your broker and say that you never pressed a sell button on AQNT
[05:58] {Roman} yesterday, and have them return the shares
[05:58] {gabby} good morning all:-)
[05:58] {Threei} gabby :)
[06:01] {Roman} well, i guess no one got more humor
[06:01] {Roman} AVAN Avant Immun syas Typhoid Fever Vaccine Demonstrates Excellent Clinical Potential
[06:01] {Roman} no one got my humor
[06:01] {DaveG} oh we got it
[06:02] {DaveG} :)
[06:02] {craigaudio} sorry was too busy calling my broker roman
[06:02] {gabby} fel even worse. lost money on them yest
[06:02] {dino} lol rfr, there
[06:02] {Roman} thank u DINO
[06:02] {Roman} i feel much better now
[06:02] {Threei} no they didn't Roman... trust me, as soon as you start posting in color, your sense of humor becomnes all but non-existent, irrelevant, ignored etc
[06:05] {magoo} morning RT
[06:05] {Threei} magoo :)
[06:06] {dino} rfr's in clor? not to my eyes
[06:06] {dino} color
[06:06] {magoo} u making oiut ok vad w/appointments?
[06:06] {esemde} good morning ya'll..
[06:07] {lklarson} morn all
[06:07] {Threei} esemde :)
[06:07] {Threei} lkl :)
[06:07] {Threei} yes magoo, ty... good news is, I am free till next Wed
[06:07] {Threei} bad part is, 6 more left
[06:07] {Threei} sigh
[06:08] {cosmo} DNDN
[06:08] {cosmo} testing
[06:08] {cosmo} .15
[06:09] {dptl} good morning all
[06:09] {Threei} dp :)
[06:16] {DaveG} wow, the Ducks won with Pronger suspended
[06:16] {DaveG} too cool
[06:17] {Threei} just to throw wrench in the spokes... maybe they won because he was suspended... {G}
[06:17] {cosmo} sounds like a good trade
[06:18] {dptl} anybody using esignal?
[06:19] {DaveG} vad :)
[06:20] {craigaudio} anyone advice on recording trades. i know i should do it but always forget. its such poor discipline and i need to fix it.
[06:20] {craigaudio} i have a sticker on my screen btw
[06:20] {esemde} anyone else been thinking that futures intraday have been up and down like rockets.....indicating struggling with possble market high
[06:21] {esemde} or is it my imagination?
[06:21] {Threei} I am not sujre what to make of it other than tension rising, esemde...
[06:21] {craigaudio} the daily on NQ is contracting in pennent formation imo. breakout either way
[06:21] {Threei} I mean, obcviously there is a serious fight on horizon
[06:22] {cosmo} TRMP wants more?
[06:22] {Threei} but which side is more likely to win remains to be seen
[06:22] {Threei} I have a feeling it's going to be bulls
[06:22] {Threei} but if you ask me to bet my house on it I will most likely refuse
[06:22] {esemde} big funds and big buyers seem to be buying in Buffet et al.
[06:22] {dino} whats the sticker say craig?
[06:23] {craigaudio} record this trade!
[06:23] {dino} ahh
[06:24] {craigaudio} i now. instead of the alert "order filled" im changing it to "record this trade you plonker"
[06:24] {Threei} you don't have any kind of blotter that would allow you to print out trades at the end of the day, craig?
[06:25] {esemde} i see what you mean re the pennant craig....
[06:25] {craigaudio} yes i use TS to review trades but i want extra columns to add setup type and comments
[06:25] {craigaudio} would rather keep electronic records so can do filters to see what type of trades are working for me
[06:26] {craigaudio} also i need to do that suggestion you make in your book. with dividing columns based on trade plan
[06:27] {Threei} if you can import that record into Excel, that would be ideal
[06:27] {Threei} easy to add any kind of columns
[06:27] {craigaudio} yes. will be looking into it over the weekend. its on the top of the to do list
[06:28] {craigaudio} 3min to open
[06:30] {Threei} sharp selling in NQs
[06:30] {esemde} I see that..
[06:31] {Threei} DNDN again
[06:31] {Threei} 6.31 risky long trigger
[06:31] {Threei} stop 6.14
[06:33] {magoo} in
[06:33] {esemde} may the force be with you dndn..ers
[06:35] {craigaudio} aapl if breaks /50
[06:38] {dino} fmcn l .75, whippy
[06:38] {Roman} HSOA Home Solutions wins contracts valued at over $100 mln (6.25 +0.25)
[06:41] {Roman} MIVA radar today
[06:41] {Roman} small search engine
[06:41] {Roman} could get a pop on AQNT buying
[06:43] {dino} stopped fmcn -.32
[06:44] {Roman} DNDN
[06:44] {Roman} SOFO Sonic Foundry Chairman/CEO bought 10K shares at $2.32-2.35 (2.39 +0.09)
[06:44] {magoo} what about DNDN?
[06:45] {Roman} i think it's a slow riser
[06:45] {craigaudio} SEPr bouncing from lows
[06:45] {Roman} DNDN i took some long 6.29
[06:45] {Roman} just in case
[06:45] {magoo} oh, me too
[06:45] {Roman} long MAMA
[06:45] {Roman} small too
[06:45] {Roman} all day kinda thing
[06:46] {craigaudio} evil aapl stopped me
[06:46] {Roman} took MAMA 4.18 also may get some action off AQNT buyout
[06:47] {magoo} gonna need volume...mama
[06:47] {Roman} NQs dropping
[06:48] {Threei} BRCM short
[06:48] {Threei} 31.04
[06:48] {Threei} stop .21
[06:49] {magoo} in
[06:49] {esemde} nice one Vad..
[06:50] {Roman} out 1/2 MAMA +.20
[06:50] {magoo} nice roman
[06:51] {Roman} long GERN
[06:51] {Threei} stop to 31.11
[06:51] {Roman} 9.05 decent pullback
[06:52] {Roman} small GERN
[06:53] {Threei} 1:1 nice and easy
[06:53] {esemde} did you catch this one AQNT ala......1999 +77
[06:53] {magoo} patented vad
[06:54] {esemde} 77% that is
[06:56] {craigaudio} DNDN stopped
[06:56] {esemde} Yahoo!My Yahoo!Mail Make Y! your home pageYahoo! SearchSearch:Sign In
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[06:56] {esemde} AP
[06:56] {esemde} Microsoft t
[06:56] {Roman} my stop for DNDN 6.04
[06:57] {Roman} FRPT
[06:57] {esemde} sorry about that....that didn't work.....was suppose to say microsoft bought Aquntive
[06:57] {esemde} for 6B no less
[06:58] {dino} chip s .43
[06:58] {Roman} out GERN +.12
[06:58] {Roman} YHOO long setup
[07:00] {craigaudio} amzn potential long?
[07:00] {Roman} Michigan Sentiment-prelim 88.7 vs 86.5 consensus
[07:01] {Roman} NVDA may got and take that $35 today
[07:01] {craigaudio} im going long AMZN on break of range .56 if fires
[07:02] {dino} cat l .65
[07:03] {Roman} HSOA halted btw
[07:03] {Roman} ICAD
[07:03] {Roman} long
[07:03] {Roman} off 2.99 small
[07:05] {craigaudio} amzn not working
[07:05] {craigaudio} stopped
[07:06] {Roman} out DNDN -.19
[07:07] {Threei} ADBE 42.92 long if stays above .80
[07:08] {Roman} long MIVA off 4.60
[07:08] {Roman} in MIVA
[07:08] {Roman} 1/2 size
[07:08] {Roman} 4.60
[07:09] {dino} hl l de .30
[07:10] {Roman} HSOA opened
[07:13] {craigaudio} ADBE was invalidated vad?
[07:15] {Threei} it lost .80, didn't it? :)
[07:15] {Threei} and did it while NQ upticed
[07:15] {Roman} just curious does laser have HSOA short?
[07:16] {Threei} yes
[07:16] {Roman} damit they are good
[07:16] {magoo} 7.49 the wall on HSOA
[07:16] {magoo} long trigg .50..risky
[07:16] {Threei} VSCN
[07:16] {Threei} half lot long
[07:16] {Threei} stop under 15.80
[07:17] {magoo} not for me roman
[07:17] {magoo} laser no have it short
[07:17] {Threei} hmm?
[07:17] {Threei} my test order went through
[07:17] {magoo} i just tried twice
[07:17] {magoo} not mine
[07:18] {Threei} maybe limited amount of shares, got exhausetd quickly
[07:18] {magoo} they have it long guys (hwe he)
[07:18] {Roman} cyber, traderstation, and InteractiveBrokers don't have it
[07:18] {Threei} lol
[07:18] {magoo} oh, sorry, i'm late
[07:18] {Roman} anyone in MIVA?
[07:18] * magoo slaps DaveG around a bit with a large trout
[07:18] {Threei} VSCN 1:1
[07:19] {craigaudio} out 1:1 VSCN
[07:19] {Threei} there you go craig... nice, fast, no thinking invloved
[07:19] {Threei} how liberating was that?
[07:19] {craigaudio} yes nice
[07:19] {lklarson} out vscn 1:1 thx vad
[07:19] {Threei} see setup, take setup, let it work, take any outcome that comes with no hesitation
[07:20] {Threei} welcome
[07:20] {Threei} and that's the essence of trading
[07:20] {craigaudio} coolio. thnks vad
[07:20] {Threei} the rest is for analysts
[07:21] {craigaudio} potential short on ONXX if bounces to 31.70?
[07:22] {Roman} yes, NQ wants to sqeeze shorts
[07:22] {Roman} IMO
[07:22] {Threei} NVDA
[07:22] {Threei} .76 long
[07:22] {Threei} .64 stop/invalidating level
[07:25] {Roman} SINA, SNDA strong
[07:26] {Roman} ASIA long setup
[07:26] {Roman} i like the volume yesterday
[07:26] {Roman} daily looks good
[07:27] {Roman} in ASIA
[07:28] {Roman} 1/2 size
[07:29] {Roman} XMSr vad?
[07:29] {Threei} for a scalp maybe...
[07:30] {Threei} chart's nice, just doesn't feel like it has much fire under it
[07:31] {Roman} took some XMSr 10.72
[07:31] {Roman} not a clean setup of course
[07:35] {Roman} MIVA
[07:35] {Roman} near high
[07:36] {Roman} SWIR 52week hihg
[07:38] {dino} de stopped
[07:39] {craigaudio} me too
[07:39] {Threei} very nice MIVA entry
[07:39] {Roman} DSTI something is up
[07:41] {esemde} where would enter DSTI?
[07:41] {Roman} i would not enter DSTI
[07:41] {Roman} just noting
[07:41] {Roman} i don't like the large bid
[07:41] {esemde} tks
[07:41] {dino} chip bstop to .23
[07:43] {Roman} i like ASIA tho
[07:44] {dino} cov chip +.18
[07:44] {Roman} WFII getting some vol
[07:44] {Roman} HSOA looking for entry here
[07:44] {Roman} in 6.74
[07:45] {Roman} small shares
[07:45] {Roman} could have another rinse
[07:45] {Roman} i just want 15 cents
[07:45] {dino} chip hooker spread\
[07:50] {dino} rvbd l .23
[07:50] {dino} .22
[07:51] {craigaudio} amzn did break in the end but got me on the first false breakout
[07:52] {Roman} LOOK radar
[07:52] {Roman} EVST Everlast Signs Two-Year Sponsorship and Licensing Agreement with United States Amateur Boxing (19.70 +0.37)
[07:52] {Threei} RMBS
[07:52] {Threei} short .89
[07:53] {Threei} 19.01 stop
[07:53] {esemde} now theres a term you don't hear everyday.......the hooker spread???
[07:53] {craigaudio} whats it mean?
[07:54] {esemde} gonna have to ask dino i'm afraid.....I ain't got a clue!
[07:55] {craigaudio} sounds like it involves curb crawling and a dirty motel room
[07:55] {dino} lol, wide
[07:55] {esemde} I think level 2 quotes can get like that
[07:56] {esemde} dirty..i mean!
[07:56] {dino} you can tell it's friday
[07:57] {esemde} I'll bit....why?
[07:57] {magoo} this is gonna be a long summer..sigh
[07:57] {dino} the bad talk
[07:58] {dino} jrcc spikey
[07:58] {esemde} message received and noted!!!
[08:00] {Roman} out XMSR flat
[08:00] {craigaudio} nvda on through lod
[08:02] {Threei} there is a message in that breakdown
[08:02] {Threei} NVDA I mean
[08:02] {craigaudio} ?
[08:02] {dino} rvbd stop tightened to .08
[08:03] {Threei} fading the setup if invalidating level is hit before triggering
[08:03] {Threei} reinforced in this case by the fact that NQ continued upticking to new highs at the moment while NVDA couldn't reach its high
[08:05] {magoo} i'm confused
[08:06] {Roman} SMSI long watch
[08:07] {Threei} who isn't magoo... but what about this time? :)
[08:08] {dino} lol vad
[08:09] {dino} you should see the look on his face when i give him choices of beer
[08:09] {dino} de rinsed us craig
[08:10] {Threei} oh I know that look
[08:10] {Threei} I see it in the mirror often
[08:10] {craigaudio} yes but i got back second time
[08:10] {craigaudio} at .82
[08:10] {Roman} CNET
[08:11] {dino} gj
[08:11] {craigaudio} just small shares. testing
[08:11] {dino} lncr fast fall
[08:11] {magoo} who we talkin about now? he he
[08:12] {Roman} CNET likely to print over 9.50
[08:12] {Roman} poped too fast tho
[08:12] {dino} vtal
[08:13] {craigaudio} MDRX pop
[08:16] {Roman} NEXM
[08:16] {Roman} long NEXM 1.85, slow
[08:17] {Threei} SNDA watching for entry
[08:17] {Threei} if holds above .80, .89 long
[08:19] {magoo} in snda
[08:19] {craigaudio} drat missed it
[08:19] {dptl} was long snda at .77
[08:19] * magoo slaps craigaudio around a bit with a large trout
[08:19] {Threei} 1:1, half out
[08:20] {dptl} out snda..+.17
[08:21] {Threei} stop to .83
[08:21] {dino} rvbd stopped .07, -.15
[08:22] {craigaudio} out DE +.65
[08:22] {dino} gj craig
[08:23] {craigaudio} ty
[08:23] {craigaudio} RMBS not working out
[08:23] {craigaudio} so far
[08:24] {dino} chip spikey
[08:25] {dptl} feels pretty slow today.....friday i guess
[08:25] {Roman} USDA to allow processing of 80,000 birds on Indiana farms that received contaminated feed - Reuters
[08:25] {dino} de l .50
[08:29] {dptl} Roman ,did you get smsi?
[08:29] {Roman} no, i did not
[08:30] {magoo} DNDN busy
[08:31] {Threei} SNDA is a wash
[08:32] {craigaudio} back in DE long
[08:32] {dino} cat stop to .88
[08:33] {dino} out cat .90, +.25
[08:36] {Roman} OMNI looks good
[08:37] {craigaudio} ftek taking battering today
[08:38] {Roman} back in XMSR small
[08:38] {Roman} 10.75
[08:39] {craigaudio} stopped DE
[08:41] {dptl} sooo....slow
[08:41] {Roman} FORG something is up again
[08:41] {Roman} MGRM spike
[08:41] {Threei} alerted about FORG yesterday I think
[08:42] {magoo} yep
[08:42] {Threei} not easy to see an entry though
[08:42] {dptl} Vad,how's Nesi doing?
[08:42] {Threei} no updates
[08:43] {craigaudio} whats happened to nesi?
[08:43] {esemde} have a great weekend everyone....i'm off to vancouver to play with Motown superstar Martha Reeves at the Red Robinson Theatre..
[08:43] {Threei} health problems
[08:43] {Threei} take care esemde, have fun!
[08:43] {craigaudio} oh. hope hes ok
[08:44] {dptl} where you going to be esemde in Vancouver?
[08:44] {dino} s intu .29
[08:45] {esemde} I think the theatre is in Coquitlam
[08:45] {dptl} Are you a musician, esemde?
[08:46] {esemde} professional drummer/percussionist....Bachelor of Music education...Percussion performance degree
[08:46] {dino} cool ese, have fun
[08:46] {esemde} see yall
[08:53] {dptl} lost connection for a sec here
[08:53] {Threei} that was esemde's consipracy, to prevent you from asking for a free ticket
[08:54] {dptl} lol
[08:56] {dino} l rvbd .35
[08:58] {magoo} me too
[09:02] {Threei} DADE, half lot long .75
[09:02] {Threei} stop .59
[09:06] {Roman} MDRX another pop
[09:20] {craigaudio} DE pullback starting to move up
[09:22] {Threei} ELON?
[09:23] {dino} out de flat
[09:24] {craigaudio} did you short it dino?
[09:25] {craigaudio} MA spike
[09:27] {Threei} frikkin SNDA
[09:27] {craigaudio} out half RVBD +.40. thanks for heads on that guys
[09:28] {craigaudio} i know vad
[09:28] {Threei} sigh
[09:28] {craigaudio} this week has been painful
[09:28] {craigaudio} choppy week
[09:29] {dptl} atvi?
[09:29] {Threei} first 3 days were fine
[09:29] {Threei} yesterday, couldn't hit a desk with a pen
[09:30] {Threei} but I suspect it was mostly me, not market
[09:30] {Threei} Roman performed fine
[09:30] {Threei} not sure about ATVI dp
[09:30] {Threei} daily is kind of in the middle of nowhere
[09:31] {dptl} ty
[09:31] {dino} np craig
[09:32] {craigaudio} whats your aim with RVBD? you still in?
[09:33] {magoo} i cut it .70, + .35
[09:33] {magoo} sorry
[09:33] {magoo} forgot post
[09:33] {magoo} told ding dong tho
[09:33] {craigaudio} np. i took half at the hight of run. although starting to wish id taken it all
[09:33] {Roman} ASTI on radar
[09:33] {Roman} FORG new high
[09:33] {dino} i'm still in
[09:34] {magoo} been awhile, so here goes......................
[09:34] {craigaudio} where you put a stop dino?
[09:34] * magoo slaps Roman around a bit with a large trout
[09:34] {dino} lod
[09:34] {magoo} he prefers being called "ding dong"
[09:34] {craigaudio} are you swinging it or did you get a really good entry
[09:34] {dino} day, in at .35
[09:35] {dino} laying out at .85
[09:35] {magoo} [11:56] {dino} l rvbd .35
[09:35] {magoo} [11:58] {magoo} me too
[09:35] {magoo} [12:02] {Threei} DADE, h
[09:39] {dino} intu bstop tighten to .26
[09:40] {Roman} NVDA long
[09:40] {dino} partial fill s chip .54
[09:40] {Roman} 34.81
[09:41] {dino} intu stopped +.03
[09:45] {dino} slowly selling rvbd .85, +.50
[09:45] {dino} out
[09:46] {craigaudio} me too just took quarter off
[09:46] {dino} how you doing craig?
[09:46] {dino} ok, gj
[09:46] {dino} your entry?
[09:46] {dino} f'ing de
[09:47] {DaveG} short?
[09:47] {DaveG} de
[09:47] {dino} no, cut l flat at .50
[09:47] {DaveG} its weak, i want to short it
[09:47] {DaveG} whatcha think
[09:47] {dino} gave me trouble today
[09:47] {DaveG} so its evil
[09:47] {dino} sort of following the dow now
[09:47] {dino} lol
[09:48] {DaveG} :)
[09:48] {craigaudio} stopped rmbs
[09:48] {craigaudio} 1:1 DADE
[09:51] {craigaudio} out DADE
[09:52] {Roman} MVIS long setup
[09:52] {Roman} off 4.50
[09:52] {Threei} out too
[09:55] {dino} gj craig
[09:56] {craigaudio} unfortunately still not been a good week though
[09:57] {dino} so, you start today. we all go thru rough times. nature of the beast
[09:58] {craigaudio} fine line between success and failure in this game.
[09:58] {dino} #1 rule: you must stay in the game
[09:58] {craigaudio} at the moment im straying on the wrong side of the fence
[09:59] {Threei} IMO, you are focused on money part too much for this stage you are at
[09:59] {dino} vad is here to help. use him. he taught me.
[09:59] {Threei} your focus should be on making right trades
[09:59] {Threei} money will follow
[09:59] {Threei} it's a subproduct of right trading
[09:59] {craigaudio} yes
[10:00] {Threei} the moment when you start meauring your performance in money terms will come later
[10:00] {Threei} at this point it just clouds your judgement
[10:00] {Threei} focus on a trade you are about to make
[10:00] {Threei} is it right one?
[10:00] {Threei} does it match your chosen setups?
[10:00] {Threei} your trading plan?
[10:00] {Threei} what is the setups structure?
[10:01] {Threei} trigger, stop, risk
[10:01] {Threei} are all components of the right trade in place?
[10:01] {Threei} remember MPPs analogies with surgeon
[10:02] {Threei} who is not likely to be a very good one if he thinks of his reward for permormed surgery?
[10:02] {Threei} he focuses on doing it right
[10:03] {dino} hl s ompi .48, thin, risky
[10:03] {Threei} how do you tell good trade from bad?
[10:03] {Threei} that's not a rethoric question :)
[10:04] {Threei} seriously
[10:04] {craigaudio} risk assessment. share size accordingly. target set. either stop hit and take loss or target hit and scaled out
[10:04] {Threei} is losing trade necessary a bad trade?
[10:04] {craigaudio} no
[10:05] {craigaudio} if setup was there
[10:05] {craigaudio} take it
[10:05] {Threei} and if everything was structured right and you still lost,
[10:05] {Threei} what kind of trade was that?
[10:05] {craigaudio} this is trading. nothing is certain
[10:06] {Threei} so, how do you make money under such coonditions?
[10:06] {craigaudio} you have an edge.
[10:06] {Roman} go to Vegas?
[10:06] {dino} brb
[10:06] {Threei} which is supposed to work in a wider range of samples than any single given trade
[10:06] {craigaudio} historical patterns based on human nature that give an increased chance of success
[10:07] {Threei} while the outcome of each trade is uncertain, outcome of series of statistically valid size will be positive
[10:07] {craigaudio} yes
[10:07] {Threei} there you go
[10:07] {Threei} theory is here
[10:07] {craigaudio} i think i understand what im doing wrong.
[10:07] {Threei} now focus on implementing it
[10:07] {Threei} srtop chasing money
[10:07] {Threei} it's elusive
[10:07] {Threei} go after making right trades
[10:08] {craigaudio} one is discipline and losing head making too many trades. i have a day of that and it ruins the good work of a week
[10:08] {DaveG} stopped de
[10:08] {DaveG} i give
[10:08] {craigaudio} the other is that i still havent fine tuned my approach and the setups i want to utilise.
[10:08] {Threei} first is crucial
[10:08] {Threei} second is kind of ongoing process
[10:09] {Threei} there won't be a time when you could say
[10:09] {Threei} my approach is fully finished and will never change from now on
[10:09] {craigaudio} working on both as hard as possible.
[10:09] {Threei} of course there is some groundwork
[10:09] {Threei} that must be done
[10:09] {Threei} and that kind of lays the foundation
[10:09] {Threei} you are in a process of doing just that
[10:10] {Threei} but first point you made is absolutely crucial
[10:10] {Threei} if you don't control yourself, nothing will help
[10:10] {craigaudio} yes totally
[10:10] {Threei} you will simply violate all and any system you work out
[10:10] {Threei} not giving it a chance to work
[10:11] {Threei} that's why trading "secrets" are not in certain system or setup
[10:11] {Threei} if there is such thing as "secret" in trading,
[10:11] {Threei} it's a secret of learning to control yourself
[10:11] {dptl} true
[10:12] {Threei} that's why newbies chasing holy grail in a form of secret approach applied by successful traders will never succeeed
[10:12] {Threei} they look in a wrong place
[10:12] {craigaudio} yes. whatever works for the individual. it needs to be your own strategy
[10:13] {craigaudio} modified from someone else if required
[10:13] {Threei} can be your own, can be someone else's, can be combuination of both,
[10:13] {Threei} but the real question is,
[10:13] {dino} .
[10:13] {Threei} does it match your personality, your objectives, your erisk tolerance?
[10:13] {Threei} if not, you won't be able to trade it
[10:13] {Threei} you will deviate from it
[10:13] {craigaudio} im still not finished with my approach to market. and that is prob what kills me
[10:14] {Threei} I'll have to disagree
[10:14] {Threei} what kills you is:
[10:14] {Threei} 1. trading for money
[10:14] {Threei} 2. lack of discipline
[10:14] {Threei} focus on a right thing and do it religiously
[10:15] {Threei} and even with half baked system you will stop losing
[10:15] {Threei} then as you fine tune your system
[10:15] {Threei} you will start making a littler
[10:15] {Threei} then confidence builds up
[10:16] {Threei} and helps you with futher finetuning
[10:16] {dino} sounds familiar
[10:16] {Threei} doesn't it :)
[10:16] {Threei} then at some point you suddenly realize
[10:16] {dino} seriously. funny thing is magoo cannot trade mine, i can't trade his. personalities
[10:16] {Threei} there is nothing market could throw at you that would put you out of your game
[10:16] {dino} ttm l .25, stop .18
[10:17] {Threei} you master yourself, and market loses its power over you
[10:17] {Threei} (which was not there in a first place, you just gave it this power in your mind)
[10:18] {Threei} soak this philosophy in
[10:18] {Roman} CTIB earnings
[10:18] {Threei} it will do much more for your trading than any setup you can learn
[10:18] {Roman} CTIB CTI Industries reports Q1 EPS of $0.10 vs $0.10 single analyst est, revs rose 1.5% YoY to $8.27 mln vs $9.40 mln single analyst est (6.36 -0.64)
[10:19] {Threei} and this little talk is 100 times more valuable for your tradsing than any call I could make meanwhile
[10:21] {craigaudio} well i think i know where im going wrong and putting in the right effort and methods to make sure i can over come my problems
[10:21] {Threei} you better
[10:21] {Threei} or we will have to trout you hard and often
[10:21] {craigaudio} yes, otherwise ill be bust
[10:21] {craigaudio} lol
[10:22] {Threei} when you read TTR or MPP,
[10:22] {Threei} or watch scalping course
[10:22] {craigaudio} thanks for the chat. i know i can do this. its a tough one but worthy of the ffort
[10:22] {craigaudio} done both
[10:22] {Threei} try to pay attention to this general philosphy, mindset thing more than to particulars of a trade
[10:23] {Threei} in TTR, the most valuable paret is a first one
[10:23] {Threei} I could do the book easily without second and third
[10:23] {dino} if i may, try not to "see" so much.
[10:23] {Threei} but could never do one without first and still think I wrote a good one
[10:23] {lklarson} like you say vad, trading is not an exact science, it is an artform
[10:23] {Threei} that's a very good point dino
[10:24] {Threei} hard to explain sometimes
[10:24] {Threei} and even harder to understand for newer traders
[10:24] {Threei} but experienced ones know exactly what you mean
[10:24] {Threei} it sure is lkl... otherwise everyone would master it in a heartbeat
[10:25] {craigaudio} everyone percieves the market different ly otherwise there would never be anyone on the other side of trades
[10:25] {Threei} since it's far from rocket science, anyone who can graduate grade 7 would be able to master the science of it
[10:25] {Threei} it's an art part that gets people
[10:25] {Threei} expressing yourself in your trades
[10:26] {Threei} sounds esoteric... and for newer traders not knowing much about it sounds like bs
[10:26] {Threei} I know, I used to think that when I read things like that 10 years ago
[10:26] {Threei} now I know how true they are, and what it takes to get to this understanding
[10:28] {craigaudio} well in 6 month i feel like a different trader to the one starting out
[10:28] * magoo slaps craigaudio around a bit with a large trout
[10:29] {craigaudio} lol
[10:29] * DaveG slaps magoo around a bit with a large trout
[10:29] {Threei} I would sure hope so
[10:29] {Threei} for one thing, you got trouted
[10:29] {Threei} {G}
[10:29] {Chaeron} that just makes him smell different
[10:30] {dino} lol
[10:30] {Threei} lol
[10:30] {craigaudio} i was going to say, another 6 months and ill have to concern myself with dry cleaning bills rather than losing trades
[10:30] * magoo slaps craigaudio around a bit with a large trout
[10:31] {dptl} lol
[10:31] {craigaudio} and strong after shave to get rid of the smell
[10:31] * craigaudio slaps magoo around a bit with a large trout
[10:32] {magoo} HEY
[10:32] * DaveG slaps magoo around a bit with a large trout
[10:32] {magoo} what i do??
[10:32] * DaveG slaps magoo around a bit with a large trout
[10:32] {Threei} slapfest
[10:32] * dptl slaps magoo around a bit with a large trout
[10:32] {DaveG} i'm having a bad day
[10:33] * DaveG slaps DaveG around a bit with a large trout
[10:33] {dino} have a brew then
[10:33] {dino} picked up a bottle of cabo silver the other night
[10:33] {craigaudio} right guys im flat positions and have to go get these fish guts off me before i start my weekend
[10:34] {DaveG} take care
[10:34] {craigaudio} everyone have a great weekend
[10:34] {craigaudio} :-)
[10:34] {dino} you 2
[10:34] {magoo} by craigar'
[10:35] {craigaudio} btw guys noone hold RVBD as it reports on monday. good 5min consolidation though here
[10:35] {craigaudio} ok im off...bye guys
[10:41] {magoo} just because craig is off...doesn't give the rest of u off....get to work...FIND A TRADE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1
[10:42] {dptl} lol
[10:42] {Threei} oops
[10:42] {Threei} OK
[10:42] {Threei} looking
[10:42] {magoo} no laughing...i can't concentrate
[10:42] {Threei} why?
[10:43] {dino} see what i have to work with
[10:43] {Threei} tough
[10:45] {dino} mnst l .00
[10:47] {Threei} DADE non-stop
[10:53] {Roman} NVDA new high
[10:53] {Threei} too bad I never found ELON entry
[10:58] {magoo} DNDN hanging around...not in
[11:04] {magoo} LMRA vad
[11:05] {Threei} that's a tought one...
[11:05] {Threei} not easy to play even when has hot news
[11:05] {magoo} as in "firm"?
[11:05] {magoo} lol
[11:05] {Threei} lol
[11:05] {magoo} stought?
[11:05] {Threei} sigh
[11:06] {magoo} anyone slap u today vad?
[11:06] {Threei} I could add a disclaimer "you deal with world's worst typist" to all my posts but it wqould make them too long
[11:06] {Threei} yes, you did
[11:06] {Threei} earlier
[11:08] {dino} out mnst .30, +.30
[11:09] {dino} too soon, too tight on trail
[11:09] {dino} ya know, i give magoo two beauties, you think he'd say thx
[11:10] {Threei} I wouldn't count on it
[11:10] {dino} silence, thats what i get
[11:10] {Threei} you give, and give, and give... and they just say "more, more, more!"
[11:10] {lklarson} olo
[11:10] * Threei hears the sound of swinging trout and ducks
[11:10] {lklarson} lol
[11:10] {dino} like the rocking horse winner and i'm on the horse
[11:11] {lklarson} man, i tell you, since I joined this formum i think my spelling has really hit rock bottom
[11:12] {dino} no worries bro
[11:12] {DaveG} dont worry, magoo's will always be worse
[11:12] {Threei} I got news for you lkl
[11:13] {Threei} just when you think it's a rock bottom...
[11:13] {lklarson} not that I have anything of meaning to say :)
[11:13] {Threei} they blast it with dynamite and you see ways to go even lower
[11:13] {lklarson} lol
[11:18] {Threei} LMRA is not shirtable
[11:18] {Threei} shortable
[11:19] {Threei} seems like pure hype to me
[11:21] {Roman} NVDA long reloading
[11:21] {Roman} SGEN long setup
[11:22] {Threei} 10.50 on daily
[11:28] {lklarson} in sgen .50
[11:29] {magoo} btw, out mnst wityh dino, but better ..got .48
[11:29] {magoo} and U dave................
[11:29] {Threei} wtg
[11:30] * magoo slaps DaveG around a bit with a large trout
[11:30] {DaveG} :)
[11:30] {Threei} I strongly support this notion
[11:30] {magoo} had phone call, still could pull trigger eject..but no way type and talk
[11:30] {magoo} thanx vad on MNST
[11:31] {dino} ohh mannnnnnnnnnnn
[11:31] {dino} swiper
[11:35] {dino} ibkr drop
[11:39] {Threei} argh LMRA
[11:39] {lklarson} bah sgen
[11:39] {Threei} where is your stop lkl?
[11:39] {lklarson} .38
[11:40] {Threei} yup
[11:40] {lklarson} to tight eh
[11:40] {Threei} no
[11:40] {Threei} that's where I'd keep it too
[11:40] {lklarson} ok, i'm learning
[11:42] {Threei} with intraday range just 30 cents, no reason to keep too wide stop'
[11:42] {dino} de rolling
[11:44] {Threei} FORG is crawling
[11:44] {Threei} anyone had LMRA short?
[11:47] {dino} can't
[11:49] {dino} chip bstop to .51, not moving
[11:56] {dino} chip stopped
[11:56] {dino} +.02\
[11:58] {Threei} is next weekend long?
[12:00] {dptl} in the states
[12:00] {dptl} memoial
[12:01] {Roman} May 28
[12:01] {Roman}
[12:01] {Roman} Memorial Day: All markets closed
[12:01] {Threei} ty
[12:01] {Roman} May 28
[12:01] {dino} partial cov ompi .10, +.38
[12:05] {dino} in full
[12:07] {dino} well, took all day but over daily goal
[12:08] {lklarson} nice work dino
[12:09] {Threei} great job, very consistent
[12:09] {dino} ty lkl.
[12:09] {dino} most likely done, will hard stop ttm to b/e and see what happens
[12:09] {lklarson} np
[12:10] {dino} aria, usat moving
[12:11] {dino} ty vad, you've been a big help. keep up the daily lessons. re-inforces things
[12:11] * Threei takes a bow
[12:15] {dino} out ttm .30, +.05, changed my mind
[12:26] {Threei} LMRA
[12:26] {Threei} actually starts looking like break
[12:26] {Threei} .70
[12:26] {Threei} with .59 stop
[12:41] {Threei} OMNI
[12:46] {Threei} OK guys, have a good weekend
[12:46] {Threei} see you on Monday
[12:47] {lklarson} take care vad
[12:48] {dino} me too, take care all, decent week. thx for ideas
[12:50] {lklarson} have a good weekend all
[13:00] {dptl} good weekend everyone