Saturday, January 15, 2011

011411 Day Trade Review: How 1 trade can ruin your day CSTR JPM

Analysis/Review


There are 2 charts below are 2 "In Play" stocks that I traded today. CSTR is a lesson in breaking discipline and JPM is an example of a good trade turned failure to get back in to catch a chop. I broke discipline in CSTR multiple times at the open (exceeded 20c stop rule). Stock had a wide spread and so I bent or more accurately opened wide open this rule and got ripped up. Luckily I was able to offset this slip-up with winners in MCD, JPM & BP and barely finish positive for the day. JPM was a nice momo catch in AM and I was able to buy in a nice dip and sell at the first peak but then failed to get back in when this strong stock tested and bounced off the daily VWAP missed almost a full point there.

Stats


Total Trades
16
% Winners

56.25%
Losers
7
ROI Losers

-$23.63
Winners
9
ROI Winners

$21.83
RR
0.92

 Goals

1. Trades to hold
2. Maintain a RR above 3 with +5 being ideal
3. Try to keep that Win ratio above 60%
4. Try to work on exits (reasons to sell) & trading around a position
5. Screen recording to replay the action
6. Try to limit stocks I'm watching to a handful or basket

CSTR


JPM


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