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

Friday, December 22, 2006

In & Out

Gross: +$483.60
Net: +$436.97
Loss From Top: 0
Trades: 33
Shares Traded: 88800

Stocks Traded Today (net profit/loss):
Red Hat Inc. (RHT): +$160.63
Rite Aid Corporation (RAD): +$129.06
Circuit City Stores Inc. (CC): +$104.07
EMC Corp (EMC): +$40.11
Pfizer Inc. (PFE): +$30.76
Ford Motor Company (F): +$8.72
Micron Technology Inc. (MU): -$36.40

Hey folks - sorry for another late post....just busy busy busy!

Anyways, today my trades were like the day itself - I was in and out pretty fast and I only stayed to trade the morning.

Today I was careful not to do anything foolish and I was patient to try to take only those trades that looked good.

I made some profits on MU early in the morning...but then when it tried to test the $14.20 level a few times today and I went long twice (on two seperate occasions) when I thought it would break, but then a heavy seller would knock MU back down again everytime MU got up to that level and I lost all my profits on MU.

I also traded Red Hat (RHT) this morning...it was really choppy and I found myself having to get in and out fast. It looks like the bulk of RHT's move occured in the afternoon so I'm lucky I came away with some profits on it this morning.

I also traded Ford (F) today. I punched in long 10,000 shares and when the level I punched didn't break, I got out using Arca and even though I entered and exited the trade at the same price, I got some credits by getting out on Arca (you can see I made about 8 bucks)....so for those that don't know about trading for credits, this is just one small example (though you'd make a whole dump-truck load more doing this on Nasdaq stocks).

I didn't really hang on to any of my trades for any real length of time - everything was just in and out fast.

Before I knew it, the morning was over and I had a lunch date with my wife, so I was out of the office by noon.

No good trades and no bad trades today.

Anyways, I'm pretty beat right now and fairly tired....

I'll be posting my weekend reading tomorrow and stocks to watch on Monday (which will give me an idea of whether I should come in to trade on Tuesday). I do intend on trading on Wednesday, Thursday and Friday next week.

Happy holidays everyone! Time to release some of that trading stress and please folks, make time for your family and loved ones - trading can be very self-absorbing and we can sometimes forget about the ones we care about! Now is a good time as any to show them you care!

Good Trades
None.

Bad Trades
None.

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3 Comments:

  • Holiday Greetings J. C. and fellow fans of...

    Just discovered your blog today via TraderMike and I'm glad that I did!
    Maintaining a daily blog is alot of work and you're doing a great job posting your trades.
    I like your outlook on the markets, and trading perspective.
    I don't use hardly any of the trading tools available to me via my on-line broker (BMO Inverstorline). I just started day trading full-time October 1st, 2006. I'm only making on ave. about $ 50/day - but, I hope to pull in more as I "live & learn".

    I'll be visiting your blog often! Thanks for posting.

    Jerry (in Windsor, Ontario)

    By Anonymous Anonymous, at December 22, 2006 11:27 PM  

  • Jerry,

    Since you day trade, you might want to consider switching to Interactive Brokers. Their commission is only $1 for 200 shares. I often trade 200 shares so the commission is almost nothing.

    Also can you trade US stocks with your account in Canadian dollars. There's no currency exchange involved.

    By Blogger wincity, at December 23, 2006 8:26 AM  

  • Jerry,
    Thanks for your comments and thanks for visiting! Though the blog does take a lot of time and effort, I find that it's a great exercise for me to assess what I'm doing and really gives me a chance to analyze what I did during my trading day. I'm glad you're following along! Happy holidays!

    Wincity,
    Thanks for your comments and thanks for the suggestions to Jerry. Hopefully one day when I have enough capital, I'd like to strike it out on my own as well, so I may use your suggestion too!

    Have a safe and relaxing holidays all!

    By Blogger J.C., at December 23, 2006 10:20 AM  

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