An NYSE Scalper's Tale - A Trader's Diary

Friday, August 04, 2006

Running On Empty

Gross: +$613.32
Net: +$453.40
Loss From Top: 0
Trades: 110
Shares Traded: 135200

Stocks Traded Today (net profit/loss):
Walmart (WMT): +$277.47
Home Depot (HD): +$218.87
Advanced Micro Devices (AMD): +$99.05
AT&T (T): +$69.18
Exxon Mobile (XOM): +$26.79
Sprint-Nextel (S): -$2.34
Qwest Communications (Q): -$7.80
Bank of America (BAC): -$35.26
Motorola (MOT): -$192.27

Boy what a day! We opened up hot after the jobs report and proceeded downhill from there for a nice 15 handle range on the S&P500.

And there were several forceful tanks made by the Futures today...if only my mind didn't feel like mush!

The morning started nice enough, but I think I spent too much time focusing on AT&T (T) in the morning. AT&T didn't do much of anything this morning and as a result, I missed many opportunities elsewhere.

Our catered lunch today was a big baguette sandwich and pasta salad. After such a hefty lunch, I immediately felt like falling asleep. I went out for a walk after lunch to wake myself up and to try to clear my head, but when I got back, I felt even more tired!

And for some strange reason, I didn't have my *mandatory* afternoon coffee. As the day wore on, my mind wasn't where it should have been...I was feeling extremely sleepy and I found myself daydreaming most of the afternoon (try looking at a screen full of dancing Level 2's quite hypnotizing!).

I felt like a car running on empty...trying to putter along and hopefully making it till the end of the day. When the final bell rang, I really felt like a walking zombie...I'm just glad I didn't make any foolish mistakes this afternoon.

I was also trying a few new entry techniques today. I tried utilizing a 3-minute chart and some EMA lines. They seemed to work great, but the problem I have is that I trust the Level 2 more than I should. Several times I got scared out of a position when I really should have trusted what I saw on the charts. Those positions would have been great positions in hindsight. This is something I will have to work on.

One good trade versus no bad trades today.

I might post my July trading stats either tonight or tomorrow (my mind is starting to feel like mush again...just got back from another hefty meal).

Good Trades
9:40AM - Walmart (WMT) was moving upwards while the Futures were also moving upwards. I saw some size on the ask break at the $45.25 level and I tried to go long 4000 shares. I got partially filled for 1700 shares. I held this position for an excruciating 3 minutes (in my world, one minute is already long!) and took my profits as follows: 12-cent winner (700 shares), 15-cent winner (500 shares), 16-cent winner (500 shares) ($239 profit before fees)

Bad Trades


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