Welcome to Stock Wise-Week #5-08/03/09 Thru 08/07/09

I believe that greatness is measured by small gains. I am an equities trader. My trading goal is to achieve one to two percent per week I have a sixty one percent success rate. My average return on investment is .50% per $100,000.00. I have no problem going short or long; however since stocks tend to go down faster then they go up most of my trades will be bearish. I am a technical trader. I only trade one to maybe four major chart patterns. These patterns occur on a regular basis. Most trades are only held for one day. Sometimes I will hold the position overnight. The reason for holding the position overnight is because I sometimes take advantage of the gap that happens in after hours trading.

Each week I will post at least one trade. I will post the chart and my recommended action via long or short before the next days open. I will also post the results of that trade along with a running total of my gains and losses. I know that posting one trade a week is very hard, but it takes discipline to accept your winnings and live with your losses. It takes a lot work to set up one trade for the week. I also do more trades, but I start my set up for the week on Friday and finish just before the market opens on Monday most weeks. I have other trades that I put on, and I keep a traders log for everything I do. Theses are available for those who are serious about working together in this very lucrative business of stock trading.

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Starting Balance: $100,000.00
Trade Week: #05
Current Balance: $107,581.00
Trade date: Monday 08/03/09

Real time data for entries and exits: My E*TRADE Account.

Trade #02 of week #05
Amount traded Approx: $10,000.00
Reason for the amount: Stock price is low and can be very volatile. I have to protect the blog from the risk of getting to far behind.

01. Long term direction:
02. Short term direction:
03. Above or below MA’s:
04. Upper and lower trend lines:
05. Support and resistance lines:
06. Previous days candle:
07. Momentum:
08. Volume:
09. New lows or new highs:
10. After hours trading:

Score:

Session Stats
SYMBOL: PKOH
COMMENT: While I had EOM, this Opt. Trade became available. I jumped on it.
STOP LOSS: EOM
ENTRY POINT: $7.14
EXIT POINT: $7.02
Account Value: $107,581
BREASON FOR ENTRY: This was an Opt. Trade
Successful trade: Y
Bullish trade: N
Bearish trade: Y
Loss: $
Profit: $161.00
% Gain: 1.7
% LossShares Traded: 1,428
REASON FOR EXIT: Profit taking.


Trade #01 of week #05
Amount traded Approx: $25,000.00
Reason for the amount: Stock price is low and can be very volatile. I have to protect the blog from the risk of getting to far behind

Analyses Steps:
01. Long term direction:
02. Short term direction:
03. Above or below MA’s:
04. Upper and lower trend lines:
05. Support and resistance lines:
06. Previous days candle:
07. Momentum:
08. Volume:
09. New lows or new highs:
10. After hours trading:

Score:


Session Stats
SYMBOL: F
COMMENT: While I was watching the market, I caught a glimse of Ford and then I looked at the chart and yesterday Ford showed a full bull candle. The price gapped up very high. I figured there would be some profit taking and it happened.

STOP LOSS: EOM
ENTRY POINT: $8.77
EXIT POINT: $8.53
Account Value: $107,420.00

REASON FOR ENTRY: This was an Opt. Trade
Successful trade: Y
Bullish trade: N
Bearish trade: Y
Loss: $
Profit: $674.00
% Gain: 2.8
SHARES TRADED: 2,850

Was weekly goal reached? Yes