April 2, 2008

Net: $118
DD: $40
LFT: 0
Trades: 49
Shares: 5000
Frame of Mind: Lose a maximum of $50 only.


I was in BBY early 4 minutes into the open at $45.40. My stop set at .60. It went to as high as .54, then went straight down to $44.40 where I took my profit. Amazing luck it turned out that was the bottom. It was so good that I decided to short, this time prematurely at $44.80, went against me as it went back to $45.40, where I cut as that was my stop. Turns out I was lucky at cutting my loss at the top too. As expected, I was FRUSTRATED at the missed opportunity and possible gain. I tried to remind myself to keep focused and objective on the next opportunity and not dwell on the missed ones.

xom-040208-1min.png xom-040208.png

First entry on XOM was $87.19 short, only to get it at .09, but alas my exit was too perfect. It got supported at .10. Eventually it did go throught, but then it went straight to .02.

10:30 came I was caught off guard as i didn’t expect the data, oil broke down while I had a short on CVX, then consequently ripped up so I had to cut my CVX.

Seeing the reversal candle pattern, I then went long XOM , 200 shares at 86.80 without any hesitation . At this point I was down $30, this would be my last trade.
I took half at 87.20, it then moved up a dollar more.


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