In this week, I traded on all 5 days. I made profit on 4 days, and lost on one. The total profit net of commission for the week is $706. Take a look at my Trade Summary first:

I have made some great trades this week including FSLR, AGU, NFLX, FFIV, etc. I have summarized them in my previous posts on December 1 and December 4.
I also have made some bad trading mistakes this week, including repeat trading, trading Grade F patterns, exiting a profitable stock too soon, and over-trading. All …

Today’s Friday, and it is the first week after Thanksgiving holiday. Perhaps institutional traders are already in the holiday mood and many of them have taken on early vacations, both the volume and daily trading range of the general market seemed lower than usual this week.
As a small individual trader though, I still woke up as usual, diligently working through my routines in the morning to look for news stocks to be able to put in my watch list. However, after a whole round of search, I didn’t find many–probably …

First of all, what exactly is day trading? According to Wikipedia’s definition, Day Trading refers to the practice of buying and selling financial instruments (such as stocks, futures, options, etc.) in order to generate a profit within the same trading day. Traders that participate in day trading are called active traders or day traders.
Day trading, like any other business professions, needs profound training, decent planning, and lots of practice. Thousands of beginners enter the day trading business every day in hope of making quick money. Yet only a few of …

MHK is a great stock that I missed today. To be exact, I didn’t missed the stock, but I missed the right entry point. I actually entered the stock twice. The first time was at a fake breakout point, and the second time was at a less favorable point that I was not comfortable to stay for long. Take a look at the pattern first:

The first time I entered the trade, was right after the stock dip under $58 at $57.84. The stock first showed strong momentum to go down, …

I’m of the belief that the single biggest barrier to success for most traders, is themselves. Psychology is one of the aspects of this job that is discussed the least, and yet when you ask most professional traders, they will agree it is the most important to understand. Master yourself and the rest is easy.
As traders, we know that we must run our winning trades, and cut our losing ones. This is of course, more easily said than done. How many times have you …

Today’s trading is heart-striking. I won, and lost, and won back again, all because of the thing called emotions.
Early morning by 10:10am, I did POT and MHS, which gave me a total profit of $205 after commission. Take a look at the charts below:

There is no economic news today. So I entered POT early at 9:48am. POT showed consistent uptrend in the morning. It opens above yesterday’s high, just under $148, and after 10 minutes, quickly jumped up above 148 level. It came back to test this support level, and …

I finished trading today at a little bit over 11:30am (which is my mandatory latest finish time). I did OK, earned $38 after commission.
The good thing is: I didn’t loose money. The bad thing is: I didn’t follow the rule of risk management.
I have to create a mind map and put all my rules for trading in it. Risk management rules are deadly important. They guide me where I should enter a trade, what is my exit strategy, when I should be able to trade other stocks, etc.
I didn’t follow …