Wednesday, April 2, 2008

My Trades on 2 April 2008

Today was not a good day for me also. I had software problem early in the morning and I could not trade until 11 am something.

TradesNumber of SharesPositionGross P&L/shareGross P&L


1. The first trade that I was entered was CA which kept hitting High yesterday and today. I tried to Long it and I was killed in the pull back.

2. The second trade that I got into was JEF, most financial stocks were positive at about 1 pm but I saw that JEF turned negative and kept on coming down. I think that will be a good short. I gave it a try and put a stop at 17.41. Obviously, my stop is too tight and it triggered mt stop and go down further.
Lesson learned: I must give it some more room and do not put my stop too tight.Short JEF on 2 April 2008

3. The reason I Long BIG was simple. BIG was positive in the morning and It pulled back starting from 12 pm. To short a stock that is still positive is not a good idea, so I was just watching BIG. It bound off at 144 at 5 minutes charting and it made another attempt to go up by breaking the Previous High. I long it after it broke previous High and put a stop a little bit below the previous High. I was in the money like 10 cents but I never take profit and it just came back hard after the news about the increase of crude oil price by $4.Long Big on 2 April 2008

4. My worst trade of the day was LDK. It was a crazy stock and it started to ripped to the moon at about 1:20 pm and I Long it but too late, I was in the money about 10 cents and it just suddenly tanked in front of my face.
Lesson Learned: Do not get into a crazy stock. LDK will be removed from my list today and I will never look at it again.

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