If you are new to the investing/trading world and do not feel like risking your hard earned money just yet. Feel free to tryout this chart game at http://chartgame.com/ . It allows you to Buy, Sell or Short stocks. You begin with a $10,000 bankroll. Please take this serious and be TRUE to yourself when playing this game. Feel free to tweet me your screen shot if you absolutely killed it at @tradermarket247. Let's see how good you are. Below is my performance after five consecutive games. Show me what you got Young Gunz!! 
Saturday, June 18, 2011
Practice makes perfect!
If you are new to the investing/trading world and do not feel like risking your hard earned money just yet. Feel free to tryout this chart game at http://chartgame.com/ . It allows you to Buy, Sell or Short stocks. You begin with a $10,000 bankroll. Please take this serious and be TRUE to yourself when playing this game. Feel free to tweet me your screen shot if you absolutely killed it at @tradermarket247. Let's see how good you are. Below is my performance after five consecutive games. Show me what you got Young Gunz!! 
Thursday, June 16, 2011
$CRIC and $YOKU daytrade review
Just want to go over two trades I made today $CRIC and $YOKU. The gains weren't that glamorous but it was a profitable day after all. Some of you might wonder why I did not go over $JVA or $QIHU those two swing trades that I took last week which netted me $10,000+ (or some of you might wonder when am I going to stop talking about it). Well, the reason I would like to review these two trades that I took today because day-trading requires more skills than swing-trading. It requires undivided attention and instant decision making. Any slightest hesitation while day trading could easily turn your profits into losses (sometimes massive losses) in a matter of minutes or sometime seconds.
I woke up at 10:00am after a drunk ass night and came across with $CRIC, a stock that got destroyed by the market since the beginning of June and it have since bounced off it's $4.50 lows. Below is the intraday chart.
The stock was tabbing yesterday's highs at $3.37 on volume. So I enter my position at 3.37(bought 3k shares) and got a bad fill at 3.39. Then as expected the stock spiked on volume to $5.49(which if I took profit, I would netted $300 within five minutes from my original entry) Unfortunately, the stock quickly faded from it's $5.49 highs (that should be your first warning sign that the breakout trade might fail) I waited another five minutes and the stock indeed began to trade lower which I eventually sold at 3.34, a total of $150.00 loss on the trade.
After failing to make money with my half awake/drunken shit face. I decided to take a five minutes break and brush my yellow ass teeth. Then I came across another opportunity which was $YOKU, an Internet stock that initially gapped up in the morning and it has been fading all day (A warning sign this stock is not showing strength).
The stock broke below $28 intraday support I immediately enter a short position at 27.77 (2000 shares, yes I chased it) Now, I was fully aware that this stock could quickly reverse and I might inherent another round of losses.(Which I talked about Accepting Your Risk back in Jan 2011) Guess what? The stock did begin to reverse and I am here staring at the chart watching the trade failing and my account size diminishing -$50, - $100, - $200, then eventually the stock reversed back all the way to $28.00 (which was the intraday support and now resistance). At this point, I was down $450 on the trade but then I gave it another five minutes to see if it can break back above it's intra-day support. If it did, I would cover my position some where around $28.10 and eat another round of massive losses then call it the day; However, my patience paid off. The stock quickly sold off from it's intarday $28 resistance and begin to trade lower. The trade turned positive and I begin to cover with my 1/3,1/3,1/3 strategy 27.39 (covered 600 shares), 27.29(covered 600 shares) then 27.17(covered rest of 800 shares); and that end up netted me a $1,000 profit on the trade.
The stock did eventually bottom at $26, which if I held my last 1/3 position and let it ride I would have made another $900. Too bad. =(
I woke up at 10:00am after a drunk ass night and came across with $CRIC, a stock that got destroyed by the market since the beginning of June and it have since bounced off it's $4.50 lows. Below is the intraday chart.
After failing to make money with my half awake/drunken shit face. I decided to take a five minutes break and brush my yellow ass teeth. Then I came across another opportunity which was $YOKU, an Internet stock that initially gapped up in the morning and it has been fading all day (A warning sign this stock is not showing strength).
The stock broke below $28 intraday support I immediately enter a short position at 27.77 (2000 shares, yes I chased it) Now, I was fully aware that this stock could quickly reverse and I might inherent another round of losses.(Which I talked about Accepting Your Risk back in Jan 2011) Guess what? The stock did begin to reverse and I am here staring at the chart watching the trade failing and my account size diminishing -$50, - $100, - $200, then eventually the stock reversed back all the way to $28.00 (which was the intraday support and now resistance). At this point, I was down $450 on the trade but then I gave it another five minutes to see if it can break back above it's intra-day support. If it did, I would cover my position some where around $28.10 and eat another round of massive losses then call it the day; However, my patience paid off. The stock quickly sold off from it's intarday $28 resistance and begin to trade lower. The trade turned positive and I begin to cover with my 1/3,1/3,1/3 strategy 27.39 (covered 600 shares), 27.29(covered 600 shares) then 27.17(covered rest of 800 shares); and that end up netted me a $1,000 profit on the trade.
The stock did eventually bottom at $26, which if I held my last 1/3 position and let it ride I would have made another $900. Too bad. =(
Wednesday, June 15, 2011
Monday, June 13, 2011
Subscribe to:
Posts (Atom)