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The Rookie and her journal


Discussion in Trading Journals

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  #1 (permalink)
bedajii
Santa Fe, NM
 
Posts: 15 since Jun 2013
Thanks Given: 1
Thanks Received: 3

Sooo, This is me starting a journal. I dont own any real stock just yet. BBUUUTTT Im paper trading (I think thats the term for it) on market watch's site. I can design a game that specifies starting capital, margin, commission. I have two games going, both started with only $100 dollars. Im not big on penny stocks, but I do like stocks that are two dollars and under as I have noticed they have much more room for movement. The first game had option hous's commission of $3.93 and I started with PLM, HCL, ALU and some others. I ended with HL, INO, and OCZ. OCZ. I have made 17 trades in three days (Im two over my legal limit), and I owe more in commissions then I have made so far. that seems to be the biggest hurdle. So Im going to have to find some really volatile stock with high volume and stare at the ticker and candlesticks (and pray of course)....First though Im going to wait it out to see if the stocks I chose can get me out of this hole I made for myself....OCZ seems to be doing terrible, even though it had such good reviews. Might be good for strictly same day buy sell, but it seems a little to volatile to keep overnight. I have interest in PLM but im not sure now is the time to buy into the stock if I want to see some immediate returns. So thats where Im as so far. Now Im off to look at some analysis tutorials...(thanks investopedia)

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  #3 (permalink)
 moorookaman 
Brisbane Queensland Australia
 
Experience: Intermediate
Platform: Motivewave (Order Flow)
Trading: CL, NG, UB
Posts: 20 since May 2013
Thanks Given: 24
Thanks Received: 23



bedajii View Post
So Im going to have to find some really volatile stock with high volume and stare at the ticker and candlesticks (and pray of course)....First though Im going to wait it out to see if the stocks I chose can get me out of this hole I made for myself....

As a brand new journal creator myself I wish you all the best but reading your post I'm not so sure that you're trading rather than just gambling? Do you have a definable strategy? As traders we all want volatility but high volatility/erratic movements will kill your account very quickly.

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  #4 (permalink)
bedajii
Santa Fe, NM
 
Posts: 15 since Jun 2013
Thanks Given: 1
Thanks Received: 3


moorookaman View Post
As a brand new journal creator myself I wish you all the best but reading your post I'm not so sure that you're trading rather than just gambling? Do you have a definable strategy? As traders we all want volatility but high volatility/erratic movements will kill your account very quickly.


Thanks for your response, its good to meet you.
I would say that your right, however Im big on cause and effect, and if I can allow myself to intuit this, using refined skill and strategy, and not allow emotion to get in the way, it will be a reliable source of income. The hard part will be understanding all of the factors and allowing myself to intuit the outcomes.

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  #5 (permalink)
bedajii
Santa Fe, NM
 
Posts: 15 since Jun 2013
Thanks Given: 1
Thanks Received: 3

I cant help but think of what I am doing as monopoly. When I was younger my family or friends would play these hours long games of monopoly with me. It would always come to me having only a few dollars left, but then slowly I would build and work my way up to the winners position. I put myself in great debt attaining the right kind of assets, all over the place, in a seemingly sporadic way, until it paid off and I had enough leverage to own the game. I always won.

Im not saying the markets and monopoly are in any way the same...I am saying that there may be somthing to learn from this.

found another little something to work towards.. IDT Overview | Intuitive Development for Traders from topstep traders. Allot of competition, but you never know, I might just get good at this..scratch that, I will get good at this!


Now to stare at charts.......

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  #6 (permalink)
 
GaryD's Avatar
 GaryD 
Orlando, Florida
 
Experience: None
Platform: shoes
Trading: happy
Posts: 6,462 since May 2011

Trading and gambling are the same thing at first. You will gain little edges with experience, which should lead to being drawn in various directions as an explorer, all the time accumulating an understanding. The goal is to wind up in a position where you can argue why they are completely different from each other.

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  #7 (permalink)
bedajii
Santa Fe, NM
 
Posts: 15 since Jun 2013
Thanks Given: 1
Thanks Received: 3

Learning how to get everything I need into one convenient place is...frustrating. OCZ seems to be trying to rally iteslf out of the mud, however HL might be hitting a tripple crown for the day, which would either mean its going to go up or down for the rest of the day... looking at its 3 year cycles, the company has been steady loosing money. Seems like a daytraders dream. But doest have long term solid gains or short term major gains that would so far make me happy about this stock. INO seems to be a tried and true, but looking at the long term, it seems that it will be hitting its high point soon. PLM might have started rallying, however, they seem to be poised for stability, Might be a great long term stock if the mining license goes through...Need to keep an eye on that news, first dibs gets in on bottom floor. Its all about the permitting now...

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  #8 (permalink)
bedajii
Santa Fe, NM
 
Posts: 15 since Jun 2013
Thanks Given: 1
Thanks Received: 3

I am wondering....it seems that INO stock is going up for no reason other than it sold some stock. The financials are terrible. If I didnt know any better I would think a pump and dump thing was going on here. Im going to investigate some more.

Their stock has risen in value over a long period of time, without much in the financials to show for it. Seems very odd. owners trying to recoup losses through stock market maybe??

So, according to their web site they are in clinical trial phases on humans even, and they have some sort of stability generated.

Willing to purchase

Definite Maybe

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  #9 (permalink)
bedajii
Santa Fe, NM
 
Posts: 15 since Jun 2013
Thanks Given: 1
Thanks Received: 3

PLM has had recent headway in getting the permitting for their minning operations, however im concerned about glencores holdings in the company. It seems however that if polymet can meet req. before they run out of money they will be a good deal. Sooner or later it will happen. They have one of three largest deposites to work with.....

Willing to Purchase
Yes
Long term hold

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  #10 (permalink)
bedajii
Santa Fe, NM
 
Posts: 15 since Jun 2013
Thanks Given: 1
Thanks Received: 3


Not many stocks did a nice neat climb today, so it was hard to identify trending companies. did find AMD, JOEz, CPST, and AVL. CPST builds wind turbines, they are an alternative energy company, then AMD does microchip processors. Might want to pairs trade this with ocz. Joez is a jeans company, which I have a hard time wanting to invest in anything that doesnt have solid assets or at least possible solid assets. Then theres AVL which is my favorite pick for the day, because they deal in rare metals and own mines. Not happy about shares outstanding, though. Im going to dig into analysis strategy studies now.

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Last Updated on July 23, 2013


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