[swansjr]

Day 29
Tuesday, January 19, 2010

P&L: $20 on 2 trades.



Today I managed to scrape a positive P&L breaking my losing streak. Once again I was right on with my direction of the market but the choppiness caught me on the first trade.

Today price was moving down to the lower extreme of the bear flag as seen on a daily chart. When I awoke price was within 15 ticks or so of hitting this low so I did not do any trading then. Price punctured the lower flag extreme then reversed breaking the bear trendline. This was the classic setup for a trendline break and retest of the lows.

My first trade was a short after two thrusts up. The second thrust was halted by the lower extreme of the bear flag which price was now under. A perfect place to short. I did and was stopped out on a large bull bar. Price would soon roll over to re-test the lows.

I switched to a 5-minute chart to reduce the noise. I took the first clear bull bar after the lowers were re-tested. I got out at my scalp target simply due to time - I had to get to work. If I had more time I would have held.

Today's setups were classic patterns. I need to adjust to the choppiness for now.

Live_Trading_2010-01-19.swf

PS: It's now late Tuesday night and price is well outside the bear flag on the daily chart. We should have some nice clean downward movement!

[Mickey Caine]

Hi Swansjr

I hope you are well, it is not like you to miss posting your daily journal. I really enjoy reading your posts, they have been an inspiration to me.

Best wishes

[swansjr]

Originally Posted by Mickey Caine »

Hi Swansjr

I hope you are well, it is not like you to miss posting your daily journal. I really enjoy reading your posts, they have been an inspiration to me.

Best wishes

That's very kind. Thanks. I've been lazy about posting. I have been carefully recording my trades but just too busy (lazy) to post. I hope to post my trades from last week later today.

[swansjr]

Day 30
Wednesday, January 21, 2010

P&L: $-55 on 2 trades.



I'm falling behind on my postings! The next few posts will be short. I placed no trades Wednesday but was dinged a little today.

Live_Trade_2010-01-21.swf

[swansjr]

Day 31
Friday, January 23, 2010

P&L: $123 on 1 trade.

Another quick post. I miss a great short trade because I did not have my trading journal ready and was busy with the printer.

Live_Traad_2010-01-22.swf

[daedalus]

Thanks for keeping the log going. Most traders are too afraid of their own skin to post their daily results for themselves to see, let alone everyone on a forum.

Kudos to you sir! Keep at it!

[swansjr]

Originally Posted by daedalus »

Thanks for keeping the log going. Most traders are too afraid of their own skin to post their daily results for themselves to see, let alone everyone on a forum.

Kudos to you sir! Keep at it!

Thanks. I really hope all of this is worth it! Actually, I really think it's helping a lot.

[swansjr]

Day 32
Monday, January 25, 2010

P&L: $86 on 3 trades.



OK, I'm trying to get back into a regular routine here. I must maintain my focus! First, last week turned out to be a positive week. For the three trading weeks this year so far, I've managed to end positive for two of the three. This also puts me positive for the month. Again, my goal is to have 4 consecutive weeks of profit.

Next, the market has been choppy as of late and I need to adapt better to that. One method I have been doing is trading from a 5-minute chart which seems to removes some of the noise.

Finally, I don't have a video today for the fact...er...humm...I just did not start it. See how bad habits creep back in?! The video recorder will be back for Tuesdays trading. Anyway today's trades were OK. My second trade netted me about $280 which covered my two other losing trades. They were all bounces of EMA or trendlines.