Technical Day Trading Journal

Seems like going by the 1 minute chart does not work, at least not for me.

Maybe I should get back to the 5 minute chart.

Let's go over our trading rules for trade entry:

1. Volume in the last candles must be above 100,000 stocks
2. Enter when there's a flag either bull or bear.

I finished this day with a profit of $10 gross but I can't really say I nailed it, because only 2 out of 5 trades succeeded. I still haven't found what I'm looking for.

I'm waiting for half an hour before market close, maybe there will be some action which will lead to trading opportunities.

Bye for now

Today we had the chance to trade at market opening.

We noticed RIMM developing a bear flag, there was also no support at all looking at level II.

We also noted the big spreads between each price level in the level II screen, for example:

18 - 150 stocks
17.95 - 10 stocks
17.90 - 8 stocks
17.82 - 4 stocks

That means,at least I think, that if 18 level breaks down then the stock will go down all the way.

This worked great but the 2 other trades we made sucked big time. We lost half of what we made on RIMM.

Getting back to trading. Keep you posted.

Found a stock CSIQ that was going down hard and waited for something that looked like a bear flag.

Noticed on level II that there is a huge buyer and I  was planning to sell short right after that buyer would have disappeared.

It did disappear but so fast that I missed it. Stock went down 30 cent in a few seconds.

Second time the same thing happened.

The third time I managed to sell short but right after that the stock went up a little ( 8 cents ) and I closed the position.


Well, I didn't find anything else so I think I'll call it a day.

Yesterday I forgot to post the results.

3 trades and a total of 0.6 dollar.

The first trade was great, ended up with 12 dollar profit. Let me remind you that I trade 100 stocks only, so that's 12 cent profit per stock.

The other trade was awful, lost 17.5 dollars. The market crushed  and the stock went down 20 cents. I should have closed the position while i was down 5 dollars but I just kept on waiting which was wrong. Do not do that - if the stock does not break out then just close the position.

Third trade was great, 15 minutes before market close, I noticed the stock on the stock scanner, volume was great - 100,000, 200,000 stocks and there was a bull flag. I entered at the top of the flag and made a few dollars.

Better luck today