8/02/07 General Trade Log / Idea Sharing

notouch · #1 (**permalink**) 08-02-2007, 07:16 AM

On a 24 hour daily YM chart we have a bullish engulfing pattern and on the DJIA chart we have a bullish piercing pattern so I'm starting with a bullish bias for the day. Futures have been calm overnight so we should see less volatility today. My forecast: a little test lower at some stage but then a rally up to close higher.

AbeSmith · #2 (**permalink**) 08-02-2007, 08:59 AM

A good morning to everyone, and good evening to our international traders. This morning is a foggy day in the Dallas area. We have had rain and thunderstorms for as long as I can remember. I don't remember it ever raining this long. Don't know if it is just my perception or if it is really something out of the ordinary.

Anyways, today I would like to trade more setups. I noticed yesterday after I had a good trade I didn't want to confront the market anymore because I think I was scared of losing my gains. So I lost some good trading opportunities due to that.

Also today I would like to go long right before the open. I've noticed that the market tends to spike up on the open, even on bearish days. Again, this may just be my perception and not a fact, but I will go with that today.

Good luck everyone.

btrader2 · #3 (**permalink**) 08-02-2007, 09:20 AM

GM AbeSmith and All

We are now backing off yesterday's high and a report (Factory Orders) is due @ 7:00 PDT

nosast · #4 (**permalink**) 08-02-2007, 09:26 AM

Good Morning Everyone and good luck trading

AbeSmith · #5 (**permalink**) 08-02-2007, 09:35 AM

The opening spike plan didn't work. Bought at 13419. Stopped at 13409. -10 points.

btrader2 · #6 (**permalink**) 08-02-2007, 10:18 AM

Took a short here @ 13422, Stopped @ BE+1

AbeSmith · #7 (**permalink**) 08-02-2007, 10:57 AM

Missed this nice short right there. Still finding myself to be very timid and not executing trades I should be executing because I guess I'm too afraid of losing.

AbeSmith · #8 (**permalink**) 08-02-2007, 11:16 AM

Trade 2: -11.

AbeSmith · #9 (**permalink**) 08-02-2007, 11:58 AM

Trade 3: -1. Got out before being stopped out.

TinGull · #10 (**permalink**) 08-02-2007, 11:58 AM

Missed my first long opp on the range breakdown failure. Had a limit order sitting right above the low at 403 and it hit 404 and cranked higher. Ah well. Nabbed a quickie at 436 on a higher volume up bar during a consolidation and took it off right before the thrice tested high.

+20

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