Subscribe Feed (RSS)Lots of trades
April 25th, 2006 by eyal | Filed under Day Trading. |
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Phew what a busy day. Lots of candidates this morning which meant lots of decisions, lots of trades, lots of calculations and paperwork. Alas not so “lots” of P&L. I took 4 trades, 2 longs: NTRI, which resutled in -0.9R and LVLT which got stopped out in the afternoon for BE. I should have known better than try and go long in today’s market. The shorts: DSCO, closed end of day for +1.5R and CNET which closed end of day for +1.7R. So the end P&L for all this work is +2.3R. Looks like weakness across the board out there.
A few respected market watchers are seeing a possible top, see here and here.
Ah, the paperwork. A necessary evil. Takes the “fun” out of it, though, doesn’t it?
A top? Who knows? It certainly is a choppy market from my perspective. I’m sitting in a couple of my typical swing trades (typical setups; unfortunately, not typical price action), and it’s been up $0.50 one day, down $0.50 the next. No profit to speak of, and nothing getting stopped out. So, here I sit. On top of that, the trades I’m already in are still coming up on my scans and they’re still the best looking setups, so it’s not like I should ditch these yawners and go with something else.
Yeah I know what you mean, almost all my setups (those I traded, those I skipped and those I missed) were unusually low risk:reward trades over the last week+.
I don’t know about top either, and I mean I have no opinion really either way. I’ve put swing trading on hold for now as it just looks like a risky time to do swing trading. But on the other hand those who take the risk and line up their positions correctly reap the rewards isn’t it?