Cubs18 trek from $8,000 to $25,000 (CURRENT $25,300) - Trade Journal of a 20 year old trader - Page 11

That's fine Damani, as I said you sound like someone that knows what to do and you sound like you are doing exactly that. I do agree that spreads are pretty safe and I also use a similar strategy, but I'm just making sure that someone reading this thread doesn't misunderstand what you originaly said and goes out and blows their account since this is a public forum and a lot of people do read these posts. At the same time, stocks do make "random" 5% overnight moves that are not based on earnings. Like I said, last month PCLN gapped $20 up on opex overnight and closed $35 higher because it got upgraded by a few banks even though it was down $10 for most of the previous day. You never know what can happen and I'm just pitching in with my experience with spreads. 

Your previous post did not mention the specifics for money management or your strategy so any reader could assume something different. So, thank you for clarifying your strategy and money management. It sounds very reasonable and well thought out so I wish the best to you.

I look forward to reading your journal thread if you decide to start one in the future. 

Quote:

Originally Posted by Cubs18 

No close under 580 today.  Trade still working very well.  Up $5,620 on it to close the day.  Won't take profits yet unless we get a market rally worth something.  All this chop does nothing for me. 

 

That whole rip your face off rally EOD and GOOG couldn't even recover 584...it did bounce off the low 579s a few times today.  Chart still looks broke.  Maybe low 570 area before it gets a worthwhile bounce?  Would love to hear some other opinions. 

 

A lot of valued posters in this thread lately, thanks for popping in!! 

If it were me, I'd already be considering take at least some off the table here.  As you can see on a daily chart it's filled the gap from October and starting to breach it, however it's testing trend line.  The sell volume peaks are noticeably depreciating as well.  For the most part since this fall, GOOG has rotated around the POC (point of control).

The weekly chart shows a potential 551 area as the target and clearly still in some kind of bull wedge .....

My personal opinion is that it's a lot to ask for GOOG to plummet straight down, especially since you stated that you thought $500 is a viable target.  Thinking the market will be the catalyst to drag it down there might be a tall order considering the company.    The safe thing to do is to take some off the table if you truly want to maximize what your targeting, that way you've locked in profit and you're hedged.  

Quote:

Originally Posted by Cubs18 

No close under 580 today.  Trade still working very well.  Up $5,620 on it to close the day.  Won't take profits yet unless we get a market rally worth something.  All this chop does nothing for me. 

 

That whole rip your face off rally EOD and GOOG couldn't even recover 584...it did bounce off the low 579s a few times today.  Chart still looks broke.  Maybe low 570 area before it gets a worthwhile bounce?  Would love to hear some other opinions. 

 

A lot of valued posters in this thread lately, thanks for popping in!! 

Great trade on GOOG. Had weekly puts last week but already closed them out.

Looks like it could head for the $565 area imo. Broke through its wedge on the weekly 

I am definiatly going to make a journal. About two weeks left for school. Then I'll dedicate some time to making a journal here! Should be fun! And yes things like that can happen but If I trade with optionshouse I can use the trailing stop feature. to re create itself everyday at a stop loss of 5% everyday. Optionshouse is a great options broker. Might start using them again. Or just split accounts.. use some money with Schwab, and the other with optionshouse.
 

Quote:

Originally Posted by Cubs18 

Hey Bob!  Thanks!

 

Yeah, I realize that now.  I just took it the wrong way at first haha.

 

Screen shots are the way to go!  I wouldn't believe some kid saying he made 12k in a day either unless I saw some sort of proof.  I think it is only fair for the human mind to want proof to confirm what they have read or heard.  I will start posting screen shots of my bigger trades for sure.  Win or loss.  I would be more than happy to do that.  As I said, I think it is only fair. 

 

Thanks for the karma!

So what happened to the screen shots? In ToS if you go to Monitor, Account Statement, Cash and Sweep Vehicle it's all there and takes about 30 seconds. You can also go to Trade History. Let me know if you need any help. Cash Sweep looks like this.

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first potential target on Goog for me is 568..

Let's see how this pans out. I'm not currently in on the downside. I'll enter on the next swing up. I hope your enjoying your profits!
 

Quote:

Originally Posted by Cubs18 

Those are my YTD numbers at the top of the page...the rest is just what could fit in the screenshot alphabetically.  It showed the AAPL trades which were the most important anyways.  

 

As you can see I was REALLY heavy in some of those trades lol.  

You just got more Karma. Good job. Watch for a PM I am going to send.