Trades for 2/3/2011: $220 profits
Traded with the YAKGROUP. Note: Yak calls out at least 4-5 trades a day but since I also work, I only choose to jump in maybe 1 or 2 and only trade 2 days a week right now. I am probably the least participating trader in the group which I hope to increase as I get use to scalp trading which requires speed and a lot of attention.
Sold short 200 shares of GMCR @ $38.00 covered @ $37.50 for $100 profit
Sold short 200 shares of GMCR @ 39.20 covered @ $38.60 for $120 profit
Bot 200 shares of V for $71.50 with a target of $73 open
Trades for 2/4/2011: $446 profits
Traded with YAK - note Yak doesn't normally trade on Fridays but with some persuasion, he reluctantly traded solo with me (not in trading room) and on the message board.
The below trade (TRGL) had me seriously frustrated. I need to learn to be less emotional when trading quickly moving stocks. This stock plunged down below $12 (my average was $12.74). At one point, I felt a little panicked and unsure. Yak had a target sell price of $14.20. Stock started coming back up and my thoughts were to either break even or with some profits. I probably would have gotten out even except it bounced back up pretty quickly and I sold at $13.15. Needless to say, I should have listened to Yak. The stock ended up going over $15!!! Which means I would have made $1,500 in profits for the day!!! Great learning trade and very appreciative of Mr. Yak for taking his Friday off to trade with me as I made some profits and knowledge which is gained each day trading with him and his group. NOTE: Must get out of penny stock mentality of trading.
Bot 600 shares of TRGL @ $12.74 sold @ $13.15 for $246 profit
Sold 200 shares of V (bot prev. day) @ $72.50 for $200 profit
Note on setting daily goals: Better to trade with the market rather than setting daily goals. I am finding that on sideways days and days that I really don't like the market activity, it's best to just stay put (there's nothing wrong with sitting out and waiting for better opportunities.....cash is always good and hasty goal induced decisions/losses are not!)