Welcome to Stock Wise-Week #09-08/31/09-09/04/09

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 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. These are available for those who are serious about working together in this very lucrative business of stock trading.

We feature real time quotes, and videos and streaming financial news.

Real time data for entries and exits: My E*TRADE Account.
Brokers Fee: $9.95

Starting Balance: $100,000.00

Week starting
balance:  $114.193.00
Current
balance:  $116,461.00
This week’s goal
Amount: $115,349.93

Trade Week: #09

Current Balance: $116,461.00
Trade date: Monday 08/23/09
Trade #03 of week #09
Amount traded Approx: $87,648.00

Reason for the amount: Due to the rules of my blog, I need to save cash in case I have to take a loss.

Session Stats

SYMBOL: ETFC
COMMENT: This is a stock I follow everyday.
STOP LOSS: EOM

ENTRY POINT: $1.47

EXIT POINT: $1.45

ACCOUNT VALE: $116,461.00

REASON FOR ENTRY: EOM

ORDER TYPE: Limit

Successful trade: Y

Bullish trade:

Bearish trade: Y

Loss: $

Profit: $1,182.00

% Gain: 1.4

% Loss

Shares Traded:  59,625

REASON FOR EXIT: Profit for the Blog.


Trade Week: #09
Current Balance: $115,278.00
Trade date: Monday 08/31/09
Trade #02 of week #09
Amount traded Approx: $85,756

Session Stats

SYMBOL:  S
COMMENT: This is a stock I track everyday so I used 85%

STOP LOSS:  EOM
ENTRY POINT: $3.71
EXIT POINT: $3.67
ACCOUNT VALE: $114,816

REASON FOR ENTRY:  Market was moving down.

ORDER TYPE: MKT.

Successful trade: Y

Bullish trade: N

Bearish trade: Y

Loss: $

Profit: $914.00

% Gain: 1.1

% Loss

Shares Traded: 23,115

REASON FOR EXIT:  Profit talking.  Also market changes

Trade Week: #09
Current Balance: $114,193.00
Trade date: Monday 08/31/09
Trade #01 of week #09

Amount traded Approx: $57,096

Reason for the amount: Due to the rules of my blog, I need to save cash in case I have to take a loss.

Analyses Steps:

01. Long term direction-Bearish

02. Short term direction-Sideways

03. Above or below MA’s-Sitting on the 10, and above the 30, and the 50.

04. Upper and lower trend lines-Price is coming to a point with trend lines coming together @$304.50.

05. Support line and Resistance lines- Sitting on support @$304.50. Minor support could be @$303.00. First resistance is @306.00 second is Major @307.00

06. Previous day’s candlestick-Bear hammer.

07. Volume-Above average.

08. Momentum-Neutral

09. New lows or new highs-N/A

10. After hours trading or Pre-Market-N/A

Score: 06-07 Use 50% of cash.

Session Stats

SYMBOL:  WSC

COMMENT:  The play could go either way. This could be a good move. Wait for confirmation on open. Make the play off of support and resistance lines.

STOP LOSS:  303.00/Price has moved down to $301.80

ENTRY POINT: $303.00

EXIT POINT: $302.00

ACCOUNT VALE: $114,386

REASON FOR ENTRY:  Stock opened at the close, and market is bearish.  I got in after confirmation of the Bear direction.

ORDER TYPE:  MKT.

Successful trade:  Y

Bullish trade:   N

Bearish trade:  Y

Loss: $

Profit: $179.00

% Gain: 0.3

% Loss

Shares Traded: 180

REASON FOR EXIT:  Stopped out.  I think I got out to soon.  Lee's rule: Never let a profit turn into a loss.

Was weekly goal reached?  YES