Review of my Chat Room Stock Day Trades for Friday Nov 11, 2016.
Intro:
Time stamped entries (in permanent archive) copied to this blog in italics (below) are direct live log chat from chat trade room as they occurred (random chat from myself not applicable or other misc chat deleted). Chat trade room is also video recorded daily for trade archive (we start sharing videos soon – just one more thing on the to-do list).
In addition to chat, this trade-room has live voice broadcast (that covers in detail what indicators I am looking for in and out off each trade) and has live chart screen sharing right from my monitor to the room with all indicators I am looking at.
Overview Perspective of Trades and Alerts: Simple but BIG Lessons Here.
In general, Friday was a difficult day for me… 3 small losses – no gains. The bonds caught me off guard and caused me to re-think. Also though… the reality is some basic disciplines went out the window. Simple stuff like trade the width or in other words the pivots (the range)… but trade them with price and volume momentum. Simple… simple… stuff. Money is made intra trading the outside ranges with price movemenet with volume momentum and cut quick if wrong. Really simple. So simple it seems we can find ourselves forgetting that. But truth is just that will get you 60 – 70% success ratio in my experience. So in short…. it doesn’t matter if there was a pull-back or the bonds or what the reason is… if you don’t trade the outside range when you have price confirmation (movement in the right direction) along with volume then YOU SHOULD NOT TRADE – IT IS A GAMBLE – pure and simple.
So this coming week for me will be all about returning to the basics. When the set-up is there I will trade – if not then I will $STUDY like all of us should.
Today’s Trades And Alerts Transcript and Notes: $PTCT, $UWTI, $XIV, $EBIO, $DRYS, $JJC, $STEM
08:53 am Curtis Melonopoly : Pre-Market Gainers Watch-list: $PTCT $NVDA $MACK $JJC $RGSE $CWH $MACK $OMER $YANG $EDZ $BT $DGAZ $AMD $TVIX $DWTI $SRPT $UVXY $JNUG
08:53 am Curtis Melonopoly : Misc. Watch-list: $UGAZ (Chart), $C (Bank), $MNST (Bottom Play), $DRYS (Shipper), $THC (Bottom Play), $TPL (Trump Play), $JJC (Continued Copper Break-Out?), $AUMN (Favorite Penny play w / Gold and Silver break-out).
08:54 am Curtis Melonopoly : https://compoundtrading.com/pre-market-newsletter-nov-11-usoil-wti-oil-dxy-dollar-vix-gld-gold-natgas/
09:02 am Curtis Melonopoly : $IAU also
09:22 am Curtis Melonopoly : Good morning
09:26 am Curtis Melonopoly : $EBIO, $DRYS, $PTCT, $JJC, $STEM possible for open
09:27 am Curtis Melonopoly : And NatGAS but… unlikely
09:37 am Curtis Melonopoly : I’ll get the other crew on other server back
09:39 am Curtis Melonopoly : $PTCT in 11.03 out 10.34 small play at 300 shares – small loss on swing account
Loss # 1 for the day – small loss. Should have cut earlier.
09:53 am Curtis Melonopoly : So Watching NATGAS for long, $JDST for pull back for long, $THC for further dip to take 2nd swing entry, $XIV for exit (likely not until Tues).
09:56 am Curtis Melonopoly : Making a few calls back in a bit
09:57 am Curtis Melonopoly : Careful with $SPY could drip all day to 214.46 ish
09:57 am Curtis Melonopoly : $JDST may not get an entry it’s not waiting
10:32 am Curtis Melonopoly : https://twitter.com/curtmelonopoly GOLD
10:33 am Curtis Melonopoly : https://twitter.com/curtmelonopoly SILVER
10:37 am Curtis Melonopoly : Running screens – back in 10 – 20
10:38 am Curtis Melonopoly : Marked my preferred by in $JDST 34.50 area
10:38 am Curtis Melonopoly : Waiting for $IAU to finish it’s intra uptrend
10:39 am Curtis Melonopoly : NATGAS looks like a bottom but we don’t have math locked in on it.
10:39 am Curtis Melonopoly : $SPY Could see 214.50 – could – before uptrend in to Tuesday
11:00 am Curtis Melonopoly : $DXY targets https://twitter.com/curtmelonopoly/status/789420610996678656
11:10 am Curtis Melonopoly : Out of small account $XIV from yesterday – going to try and trade out of that loss (about 1.50 I’l have to check)
Loss # 2 for the day. Swing from day before. Small loss. Should have held actually. Pivots – range etc.
11:13 am Curtis Melonopoly : 37.53 fill on sell order $XIV on small account swing from yesterday
11:20 am Curtis Melonopoly : Watching $TZA for $DXY break-out possible
11:30 am Curtis Melonopoly : $UUP watch instead
11:36 am Mathew Waterfall : Would be a nice double top if it heads south from here
12:07 pm Curtis Melonopoly : Going to get a coffee back in 20 for afternoon session – tough market for me.
01:14 pm Curtis Melonopoly : Long $UWTI 17.125 avg small account
01:32 pm Curtis Melonopoly : Out $UWTI 17.03 loss
Loss # 3 for the day – for some reason I thought it was 2 – need to confirm before I post stats on my Twitter feed lol.
01:41 pm Curtis M : These markets are confused …. sitting on hands may be best.. Inflation, bonds, credit markets, currencies they´re all confused lol
01:42 pm Mathew Waterfall : Yea things are backwards all over the place. Should have gone flat earlier in the week over here. Gold, oil, bonds, all trading crazy
01:45 pm Curtis M : $XIV going up while oil tanks… ummm
01:46 pm Mathew Waterfall : Again, weird. XIV up, VIX also up. Put buying up
01:46 pm Mathew Waterfall : It doesn’t make sense
01:46 pm Mathew Waterfall : I think we see a big shake out before thanksgiving. And the whipsaw will be real and violent
01:46 pm Mathew Waterfall : Just picked up some $USLV for the occasion
01:47 pm Curtis M : I havent spun my tires like last 2 days for literally I can´t recall
01:48 pm Mathew Waterfall : I haven’t traded this hard and lost money either. Should have stayed in Palm Springs for the week
01:50 pm Curtis M : Trends will start soon enough
02:02 pm Curtis M : Theyre selling the rips so that makes it tough …
02:09 pm GSCT . : Should $NUGT correlate with an up move?
02:09 pm Curtis M : Yes
02:09 pm Curtis M : $IAU has volume
02:09 pm Curtis M : Not sure why
02:11 pm GSCT . : But your algos show Gold down more 1167(?) before ramping?
02:12 pm Curtis M : Yes
02:13 pm GSCT . : It’s how I have been trading.
02:14 pm Curtis M : Long $IAU small acount for a gamble at 11.80 800 shares
02:14 pm GSCT . : Curious about incorporating your data into my strategy.
02:15 pm GSCT . : What’s the winning percentage of your Gold algo? I tink you said oil is 90% day trade rate.
02:16 pm GSCT . : think
02:18 pm GSCT . : Wow.
02:18 pm GSCT . : But no Natty Gas algo.
02:19 pm Curtis M : Out $IAU for basicallly flat .5 cent loss
Basically flat.
02:19 pm Mathew Waterfall : OIL ramp into pit close here
02:21 pm Mathew Waterfall : TONS of volume in /CL contracts as well
02:21 pm Mathew Waterfall : don’t want to go home short crew covering their a$$
02:23 pm Curtis M : back before last hour 345 at latest checking on other traders etc
02:23 pm Curtis M : would like one last hit for the week
02:23 pm Curtis M : algo charting technical next week
02:45 pm Curtis Melonopoly : Back in 5 – all our equipment came in today so we’re fully set up in one week! yehhaw – anyway scanning for afternoon EOD play
03:14 pm Mathew Waterfall : I out all of my miners. Those things look horrible, and gold looks horrible. Will look for set up in $DUST moving forward via calls most likely
03:19 pm Curtis M : Have a great weekend guys and gals!
03:19 pm Curtis M : I will stay close to monitors to hear alarms until end of day.
03:20 pm Curtis M : Big reports coming out for before Monday open we start with algos next week.
So that was 3 small losses… the first momo trade the loss could have been smaller and the other two I should have held – if I was respecting the range I would have but I was obviously not respecting simple fundamental principles of successful trading. Hope you learn from that!
Monday a new day!
Best and stay blessed.
Curt
Topics: Wall Street, Stocks, Stock Market, Day Trading, Chat Room