A better day - 4/18/2007

My trading day got started today kind of off. You ever meet me in person - I like to talk way too much. This morning I was spending too much time IMing with friends and answering emails. The kind of stuff that should done later in the day. Need to be discipline.

Yesterday and today - I picked the right stocks but did not stay with them. Yesterday I had a small lost - today I made it back. Both days if I had just sat on my hands, I would have made a deceit amount of money. Example below.



MNST was one of big mouth's stocks from the night before. I should have been selling it short in the premarket but see first paragraph above. I did watch the action for the first bar of the opening and it looked like it was already to fall. I sold short a 1000 shares and was looking to sell another after the trade started my way. The next 5 minutes the stock bounced between 44.68 and 44.78. I started putting my stop loss order at 44.85 but something inside said don't let this turn into a loser and I bailed on the last bar before it started decline. Crap or I mean CRAP. I tried to get back in but the decline was too quick and then the stock stabilized around 44.45 for an hour before cracking again. I should have sold 1000k in premarket. Sold another 1000k after seeing the stock was out of gas on the open. Covered half at 44.45 and the other half at 44 even. I have a novel idea - maybe I read and follow my own Blog!

A side note Dinosaur Trader is doing a VO (vitural office) were he is posting traders results on a daily basis. I decided to join after finding Glen from DehTrader.com was also joining and DT was excepting new traders - thanks DT. Thank God I made a profit on my first day.

The numbers - Gross 170.00 Net 137.00 Shares Traded 8600