Saturday, April 5, 2008

My Trades on 3, 4 April 2008

Trades on 3 April 2008
TradesNumber of SharesPositionGross P&L/shareGross P&L
Dis
200
Short
0.0
0.0
GPS
200
Short
0.04
7
HD
300
Short
-0.11
-33
MAR
100
Short
-0.21
-21
MU
500
Short
-0.13
-65
S
300
Short
-0.07
-21
STX
300
Long
-0.17
-52
Total
1900


-185

Trades on 4 April 2008
TradesNumber of SharesPositionGross P&L/shareGross P&L
CVC
100
Short
0.14
14
GPS
200
Short
-0.02
-4
JEF
300
Short
0.06
19
TXN
400
Short
0.15
60
Total
1000


89

1. My best trade on 4 April 2008 was TXN. It looked weak when the market opened. I shorted 200 shares at 29.72 when it came down below the 144 Exponential Moving Average and when MACD showed bearish trend. I sized in another 200 shares when the trend confirmed by MACD at 29.58. I put a limit buy at 29.50 to take profit before the trend changed.
Short TXN on 4 April 2008
2. Another good trade JEF. JEF has been killed from previous day close at 17.12 to the low of the day at 16.23. It bounded back to near 144 at about 1 pm and it never broke though 144 to climb higher. I took the opportunity to short JEF and put a stop a little bit about previous open at 16.91. JEF has tested at the 144 a few times but never broke through. I sized in more when I saw the MACD confirmed the bearish trend and when it broke though the previous low. However, the exit was a bit premature as it bounded at the Bollinger band.
Short JEF on 4 April 2008
Summary
This week has been the worst week ever for me. I was very careless on 3 April 2008 and It was a choppy market and every trade that I got into was against me. I have traded very carefully on 4 April 2008 with lesser shares to slowly gain back my momentum and that was my only positive day at the first weeks of April 2008.

Week 1 of April 2008
DateNumber of SharesProfit/ Loss
1
6900
-371
2
1400
-203
3
1900
-185
4
1000
89
Total
11200-670

Overall, the first week as a full time trader, I am -670 and I am not happy with it. I will have to do more homework and be more careful on my trades and do not trade on crazy stocks. I have to be patient to wait for nice setup before getting into a trades.

2 comments:

winsun said...

stay out of the market! dont short! against the law!

Invest4ff said...

Haha... only against the law in Malaysia but not USA.