Live trading

I will start posting my trades through Twitter and Blogger live or as close to live as I can. This publicizing of my trades is an attempt to force my self to obey my rules. By broadcasting to an (imaginary?) audience, I believe it'll make me weigh my trading decision more carefully.

The idea is to see my audience as a good friend that is following my trades. Do I like the trade enough to let my friend follow me in on it. If not? Why in the world would I want to trade it. This way, I will need to justify my rationale for getting in and getting out, and hopefully cut down on my impulse trades.

I'm still at a stage where less is more. I will attempt to master one type of trading before attempting the more difficult and tricky ones. Namely, I will start with trend trading only. Once I truly feel I've mastered it I will then and only then try my hands at counter trend trading. How will I determine I've mastered trend trading? I believe a four consistently and substantially profitable months should be the minimum.

My trading plan is as follows:
1. Filter stocks that have moved up or down significantly with volume on the open.
2. Enter at pull back in the direction of the trend
3. Set stop at the low of the pullback
4. Exit according to FIB levels or exhaustion levels.

What I will absolutely not do is calling tops and catching knives.

+0.5 TEX BWLD

Had one decent trade in TEX, shorted below the 4 th bar and covered around 9.35

Bought in BWLD at 28.3 around 11:15. Original stop set at 28.03 but moved my stop to 28.25 when price reached 28.59. In retrospect, should've left the original stop alone.

-0.15 RIMM

Took a couple of trades in RIMM, made 50 cents then lost 50 cents. Didn't follow my plan today. I was lured in by the heavy volume and gap in RIMM. Alas it didn't provide any good setups.

Missed a good trade in DVA
There were a few good entry points, first around 10:30am near 50 when the price was pulling towards the 5 EMA a nice entry with a tight stop. The second above 51.67 at 1:45pm. The price was forming narrowing ranges with an upward slope. A stop buy above 51.67 with a stop loss at 51.35 would've netted a good profit.