Technical Day Trading Journal

Yesterday the stock market was crazy so it was very dangerous to trade.

I was following a stock, NDN, and when it hit 16 I decided to enter a long position.

The reason for this is that 16 was the highest point in the daily chart and also in the 5 minute chart.

Round numbers are known to be resistance points so if a stock crosses this point it should break out in long positions and the other way around in short positions.

But this time it didn't work, for a few seconds I was losing 3 cents then I was winning 3 cents and then it started to plummet and I noticed the SPY going down so I decided to get out of the position.

It turned out to be a smart move because then NDN fell 15 cents in a few seconds.

It's important to make winning last and to cut loss quickly.

Eventually I lost 2 cents per stock yesterday and I'm still trading 100 stocks per trade so that means 2 dollars gross loss.

See you on Monday

Today I missed 2 trades.

I thought I'd do whatever worked yesterday so I was looking for a new peak or bottom on the daily chart.

I used the 5 minute chart to declare a trend and the entry point would be the daily peak or bottom.

The exact entry point would be based on level II, of course if the daily peak is at 15.00 and I need to get in a long position and there's a huge seller at 15.01 then I would enter the position at 15.02

This could have worked twice.

With the first stock I was too afraid to enter the position because it made a sharp move, 15 cents move in a second, so I figured I'd be better off staying away. but this stock plummeted 50 cents.

The other one I just missed by 2 cents when I noticed it, so I didn't take it which was also a mistake because it made about 30 cents in one minute.

So no gain but no loss either today.

Let's see how we're doing tomorrow.

Today I decided to use the daily chart along with the 5 minute chart.

I only picked stocks that made new daily peaks or bottoms as opposed to all other trading days.

I used my new scanner/alerter and it worked like a charm. No way I could have watched it with my own eyes.

In the last trade, the peak was my entry point and it worked pretty good ( 15 cents )

I made 4 trades today and 3 out of the 4 were profitable.

I made 12 cents in the first one, then lost 8, then made another 4.5 cents and then another 15 cents.


I'll try the same tomorrow and see if it works.

Let's hope tomorrow will be profitable as well.

Today was pretty good.

I entered 3 trades and 2 out of the 3 were a success.

In both trades I noticed a bull flag, the first one DAL didn't break out so I only managed to get 4 cents.

The second one CYCC was working really hard to break and eventually didn't, so I took my 5 cents and baled when I noticed a huge seller.

The third trade was a mistake, I noticed a stock, TWC, that kept going up so I figured why the hell not.  Well, I shouldn't have done this because I lost 3 cents, I managed to cut the loss early, what a waste.

So overall it was a pretty good trading day. There was another trade at the beginning but I was thinking too much and I didn't hit the buy button, and this stock made 20 cents in 30 seconds.
I think I lost my confidence due to previous losses.

The stock scanner didn't come in handy today, I'm sure it'll come in handy tomorrow.

I put the real time stock scanner to test today.

Actually it alerted twice but the first stock was going so slowly so I decided to sit back and watch it.

It made 30 cents after 30 minutes. But at least I didn't lose.

The second stock was too expensive for me, if I can't buy at least 100 shares then why bother at all?

But at least I know now that the scanner is working great and the trading program was not slowing down because of it.

Trading day is about to end and I didn't even make one trade.

I think that's it for today. Better luck tomorrow.