It's All About Focus (Or Lack Thereof)
Gross: +$1,084.06
Net: +$908.79
Loss From Top: 0
Trades: 100
Shares Traded: 190200
Stocks Traded Today (net profit/loss):
AT&T (T): +$667.08
Walmart (WMT): +$108.64
Exxon Mobile (XOM): +$56.53
Hewlett Packard (HPQ): +$58.02
Motorola (MOT): +$79.49
Bank of America (BAC): -$60.99
Today I decided to focus on a core list of stocks so that I could focus on what was going on in these stocks and I could have a better feel for the price action.
Usually when I trade, I'm usually flipping my Level 2 screens between 10 to 12 stocks which I think it way too much. I think it's because of this, I don't have any focus on any particular stock and I'm not too sure what the price action had been during the day.
Lately, AT&T (T) has provided great opportunities and I decided to make this stock my central focus for today...and it didn't disappoint.
I initially decided to focus on T, WMT, XOM, HPQ, and BAC. During the course of the morning, I didn't like the price action on BAC, so I decided to switch it to MOT.
I also had to force myself not to trade during market lulls and I'm glad I was able to resist the temptation to trade when the markets were not trending.
I'm going to start playing around with trading 20,000 and 30,000 shares at a time fairly soon and hopefully start making some real money.
Good Trades
9:43AM - (M) AT&T (T) was uptrending and so were the Futures. Some size broke on the offer so I went long 6600 shares. I followed it up and got out as follows: 2-cent winner (2300 shares), 7-cent winner (4300 shares) ($347 profit before fees)
10:26AM - (M) AT&T (T) was uptrending while the Futures were falling slightly. Since AT&T was looking so strong, I decided to go long 5000 shares when a price level broke. AT&T kept going up and I got my entire position out for a 4-cent winner ($200 profit before fees)
Bad Trades
9:34AM - (M) AT&T (T) had just opened and the Futures started moving up. I saw some size on the offer break, so I went long 5000 shares. Well, AT&T started going down, so I got my position out for a 2-cent loser ($100 loser before fees)
Net: +$908.79
Loss From Top: 0
Trades: 100
Shares Traded: 190200
Stocks Traded Today (net profit/loss):
AT&T (T): +$667.08
Walmart (WMT): +$108.64
Exxon Mobile (XOM): +$56.53
Hewlett Packard (HPQ): +$58.02
Motorola (MOT): +$79.49
Bank of America (BAC): -$60.99
Today I decided to focus on a core list of stocks so that I could focus on what was going on in these stocks and I could have a better feel for the price action.
Usually when I trade, I'm usually flipping my Level 2 screens between 10 to 12 stocks which I think it way too much. I think it's because of this, I don't have any focus on any particular stock and I'm not too sure what the price action had been during the day.
Lately, AT&T (T) has provided great opportunities and I decided to make this stock my central focus for today...and it didn't disappoint.
I initially decided to focus on T, WMT, XOM, HPQ, and BAC. During the course of the morning, I didn't like the price action on BAC, so I decided to switch it to MOT.
I also had to force myself not to trade during market lulls and I'm glad I was able to resist the temptation to trade when the markets were not trending.
I'm going to start playing around with trading 20,000 and 30,000 shares at a time fairly soon and hopefully start making some real money.
Good Trades
9:43AM - (M) AT&T (T) was uptrending and so were the Futures. Some size broke on the offer so I went long 6600 shares. I followed it up and got out as follows: 2-cent winner (2300 shares), 7-cent winner (4300 shares) ($347 profit before fees)
10:26AM - (M) AT&T (T) was uptrending while the Futures were falling slightly. Since AT&T was looking so strong, I decided to go long 5000 shares when a price level broke. AT&T kept going up and I got my entire position out for a 4-cent winner ($200 profit before fees)
Bad Trades
9:34AM - (M) AT&T (T) had just opened and the Futures started moving up. I saw some size on the offer break, so I went long 5000 shares. Well, AT&T started going down, so I got my position out for a 2-cent loser ($100 loser before fees)
- I think this trade was put on a little too early and the price action during the first few minutes were not very definitive
- I took a chance on this trade...unfortunately it just didn't work out
- Again, I took a chance, but it didn't work out this time
- I should have waited until AT&T was absolutely clear of the trading range before putting on a position
posted by J.C. at
5:46 p.m.
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