Friday, May 18, 2007

***MY TRADES 5/17 5/18

DAWG Trades Friday 5/18

DRL in 1.02 out 1.03
VSCN in 15.66 out 16.35
THK in 2.60 out 2.84
ENOC in 31.13 out 31.81
TECUA in 15.70 out 17.15
DSTI in 4.03 out 4.53
OMR in 7 still holding at close price 8.32, expecting gapup on open

Again, thanks to Loki, for early news alert on OMR shipwreck find.

Thursday 5/17

DUSA in 3.87 out 4.50
TUBR in 2.28 out 2.41
AVNR in 2.81 out 3.19
TTGT in 15.20 out 15.17
TECUA in 14.05 out 15.72
CSUN in 13.04 out 16.48

Thanks go out to "MR. IPO", Loki for CSUN.

10 comments:

Anonymous said...

Muddy the trades you make are excellent.

Are most of these entries from your watchlist on Scottrade or do you scan them on Stockfetcher scans(delayed)? Or both?

The scrolling text on Market Movers is hard to read so do you go off the "Blue" ones HOD's that come up off your watchlist on Scottrade?

How many times must the HOD's hit before you do enter a trade? I know you need confirmation off a volume spike before you enter a trade. What is the main trigger the volume spike or the HOD or both?

When you enter a trade do you initially set a stoploss or trailing stop at -3% or -5% or some other percentage?

Thanks!

Mark said...

Hi Muddy.

I have no doubt you do very well day trading stocks and seem to love what you do. Kudos to you.

But the biggest problem i see with day trading is "where is the passive income..business building."? You simply have swapped a j.o.b. in the office for a job watching the quote machine all day. I AM NOT knocking you or your style at all. But it is something all "potential" day traders should consider.

I look at stock trading in much more passive income/wealth building eyes. I do not see the value of haivng to "trade" during the day. I want to be able to take vacations/ do other things whilst the stock market works for me.

Regards
Mark Crisp
http://www.stressfreetrading.com

Muddy said...

Hi Anon,
Thanks.
Most of the entries come from the scrolling hod list with stocks I know as former runners.
Actually I try for the biggest dayrangers first with lower float if possible.
These are the kind that often move the fastest.
I leave a few quote boxes open overlayed on the hod list to check vol,bid/ask flip(noted on the BxA Size and BxA Exch on Scott) and to see how much % the stock has already gained and how close it is to an even $ mark.

I run a once a week scan for the top 40 dayrangers with vol and a daily 20 stock scan for both the highest vol 8%+ gainers and losers.
Most times these won't hit the "Blue" because the screen I leave up behind the hod list is the Afterhours and Premarket leader board ones.

Many times just 1 hit on the HOD list will justify an entry for me if the other criteria I mentioned fits.

I always set a mental stop of 3-4% initial stop when entering.
If the stock starts to run I'll trail it up,the % depending on how much profit I've got and the price of the stock.

I NEVER EVER sell a stock near its hod unless it's to close out a trade at very near the close of the day.

Muddy said...

Hi Mark,
Welcome,good to see you again.

I'll try to explain my concept but first let me say I have no problem with passive income,in fact I myself have done it for years and still do.

But first about the j.o.b.
For me no other job could give me the freedom I enjoy.
2 years ago I took 16 months off from trading other than adding money into CGMFX,a mutual fund I dollar/cost/average with.
What other "job" could I just walk away from and enjoy other things in life and be GUARANTEED that job when I felt like returning?

I think you've mentioned on Stockfetcher forum the problem of compounding with daytrading and I agree,up to a point.
But this is what I do.I basically trade off the same $30k account over and over.
What is left over at the end of the month after living expenses I roll over into either CGMFX or a few stocks like RRI which I'm into now

I think you were a trader/follower of ICE.
Can you imagine dollar/cost/averaging every month into this with your "leftover" money month after month?

And really I'm not obsessive about hanging by the pc all day watching quotes,I'll often take the dogs out for an hour or so during the day and if it's raining, well, NAP time:)

Thanks for stopping by.

Anonymous said...

Hi Muddy,

Yeah nice to hear from you again. And thanks for the reply.

Can i ask 2 queestions? I hope you do not find then rude?

1) What kind of % returns are you getting day trading..on average?

2) Can you build your account bigger than $30,000? Or is this the biggest it can go for your style of trading?

Oh...where in the U.S.A. are you based?


Thank you
Mark Crisp

Muddy said...

Hi Mark,

On average I've been doing about 35% a month the last 5 months I've gone to daytrading.
I'm not always invested 100% with that $30k core account and because I'm trying to keep this as stress free as I can for myself and not be glued to the pc every minute watching every tick I trade what I consider "smaller" positions.

I'm sure if one could handle it psychologically one could up that core account and play larger positions as long as the stocks are of the higher volume kind.

I live on the eastern coast.

Anonymous said...

Hi Muddy.

35% is amazing. Well done.

Thanks for all this information. Your site is a great resource for aspiring day traders.

East coas..ok you want to keep it quiet. It looks pretty cold at winter so i am guessing up North somewhere? Boston/New York kind of area.

Any how good luck. I'll pop in from time to time.

(watching CROX fort he next few weeks. Been in since $50's. :-) )

Regards
Mark

Muddy said...

Hi Mark,
I'm from southern New Jersey,almost directly across the river from Philadelphia airport.

CROX is one of those stocks that is about perfect to put that "leftover" day trading profit into and dollar cost average into since it has not violated the 20SMA since crossing it the 3rd week of March.
Good luck with it.

Muddy said...

May 20th I said:
"2 years ago I took 16 months off from trading other than adding money into CGMFX,a mutual fund I dollar/cost/average with."

"this is what I do.I basically trade off the same $30k account over and over.
What is left over at the end of the month after living expenses I roll over into either CGMFX or a few stocks like RRI which I'm into now"

This is an update on CGMFX.
Price has risen from 40 on the date of the original comment,May 20 to 57.
RRI I have since cut as its been trading sideways since August and have rolled all that cash into CGMFX.
I continue to D/C/A into CGMFX with my day trading profits

Tim Bourquin said...

Muddy,

I'd like to interview you over the phone for TraderInterviews.com. Would you mind sending me an email or giving me a call?

Tim Bourquin
http://www.TraderInterviews.com
tim@tncnewmedia.com
949-348-2590 ext. 15
800-485-0422 ext. 15