“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” - William O’Neil

– Click here for today’s full list –

“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” - William O’Neil

– Click here for today’s full list –

Since day trading is a lot about recognizing the patterns in charts, I have decided to post a chart every day that would have resulted in a profitable dummy trade. I will post these in the dummy-a-day category which you can simply click to review for practice. The chart will be displayed as it looked when the trade should have been executed, and when you move your mouse over the image, it will show how the trade would have resulted.
Here is one I missed from today, URGI:

If you shorted URGI when it broke below its 10:00 candle at $17.23 with a stop above it at $17.41, you would only risk 18 cents. Waiting to cover until the end of the day would have given you about 96 cents for every share you were short, or over 5 times your risk.

I have had - until now - this unresolved debate with myself about not trading on options expiration days. I sort of decided (by not making a decision) that I would trade, but trade carefully and small - which I now think is stupid. First of all, the trading conditions seem more difficult for my style of trading - so I am losing some of my edge. Second, even if a stock sets up nicely I still second guess it because it is options expiration day.
Usually options expiration turns out exactly as it did for me today - a complete waste of time, money and energy. I’m not going to trade options expiration anymore. Once a month I’ll take a 3-day weekend.

Good morning, my name is Ugly, and I am a loser. I have it in me to do serious financial damage to my account.

Dear Diary,
Based on the outgoing clicks from the top 10 post, my readers are mostly interested in pictures of sexy women. Next, they are interested in finding out who is one crazy mo-fo. After that, they are interested in the dudes that know their shit.
Based on yesterday’s trading, the following stocks are worth noting:

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Since day trading is a lot about recognizing the patterns in charts, I have decided to post a chart every day that would have resulted in a profitable dummy trade. I will post these in the dummy-a-day category which you can simply click to review for practice. The chart will be displayed as it looked when the trade should have been executed, and when you move your mouse over the image, it will show how the trade would have resulted.
Here is one I missed from today, SLW:

If you shorted SLW when it broke below its 11:00 candle at $11.32 with a stop above it at $11.41, you would only risk 9 cents. Waiting to cover until the end of the day would have given you about 36 cents for every share you were short, or 4 times your risk.

“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” - William O’Neil

– Click here for today’s full list –

“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower.” - William O’Neil

– Click here for today’s full list –

Today was frustrating. Most of my trades were boring and choppy. I also missed some good oil and gold short opportunities, for example with FTO. Around 10:20, I saw a 100k block of shares fly by on FTO and then another large block sitting on the bid at $30.30. I thought to myself, “I’ll buy here and if that bid is taken out, I’ll sell and then go short.” I saw the bid getting taken out, so I sold my position at $30.30 for a small loss but I didn’t short it. That turned out to be a mistake - FTO is getting ripped apart.
I guess the most frustrating thing is that the day ended on a sour note. One of my rules is to not trade after 1pm, but I saw the markets take a quick dive just after 2pm, so I was thinking about shorting either LVLT or SNDK. I wanted LVLT, and I was watching it, but I quickly checked my email or something and when I came back LVLT had started down without me. So I shorted SNDK and was stopped out right away. Sometimes trading is mental torture. The only good thing is that I was able to stop myself here and call it a day.