DELL, BRCD
Posted on November 22, 2006
Tags: Day Trading |
I ended up trading afterall as the evening ended relatively early. However I showed up a bit late, forgot I was playing with my scanner yesterday and did’t put it back to its normal settings so all I saw relevant to me was DELL. Which I went long (on the 5th bar). I then realized the scanner issue, flipped it back and saw BRCD, I missed my original entry but saw it setting up again so entered early afternoon (which I don’t normally do). Anyways in the end DELL was a small loser and BRCD only marginally a larger winner with overall +0.2R or so which I can use for lunch today, great.
Looking back at the last week and half, I’ve been having hard time keeping up with trading due to social commitments which have recently increased in frequency. There were no trading disasters and I still made some money but it’s far from being the right way to trade. If you’ve been reading this blog for a while then you’d know that this dilemma of juggling trading with all my other work/social/travel commitments have been plaguing me forever. So what to do about it? Well right now nothing, or there’s no solution that I can see. At least until I get capitalized enough and am ready to make a full commitment to trading. Anyway without whining too much (as the cool dude Ugly says), I’m looking forward to a bit of rest Thursday to Sunday). As I know myself though, by Saturday I’ll be itching to get back to trading.
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3 Responses to “DELL, BRCD”
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I'm a stocks day trader trading for a living in Thailand (Bangkok). This blog serves as an outlet for myself to record my trades, musings and ramblings.
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Well, one option is to swing trade, rather than day trade. Then you don’t necessarily have to be parked in front of your screen at certain times (although, even with swing trading, there is often the temptation to sit and gawk more than may be necessary). More so than with day trading, in my opinion, swing trading allows you to automate more of your trading to control risk and position management, since you’re running off of EOD prices instead of intraday prices — especially, if your broker has a good system with comprehensive contingent trade order capability (because we all know before we enter the trade where we will get in, take profits, or cut out losses, right?). At the end of the day, you’ve got to find something that fits your personality, feels “right” to you, and enhances (rather than hinders) your lifestyle.
Hi Scott, thanks for the comment. I’ve done swing trading in the past. It is indeed an option but I’m not very attracted (for lack of other word) to that kind of trading. It’s not because of the lack of thrill, I just prefer to see my positions close end of day and know that I’m flat going into tomorrow, or the day after etc. I found swing trading requires even more daily attention to my scans whereas with intraday I can just skip a day or two knowing nothing is happening to my P&L. Kind of better peace of mind. I still have mid to long term ETF positions but it’s different from individual stocks of course.
So intraday trading fits me personally better but not my schedule :) at least for now.
Thanks
Eyal
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