Monday, July 31, 2006
I ended up taking a later flight out. I finally arrived in Vegas at 6pm PST.
Right after I got here, I hit the casino immediately. The craps table first. $350 gone...just like that. Then, I went to the $50 BJ table to get my money back. I ended up losing about $50 before I had to go to dinner.
After dinner, I hit the roulette table. I dropped $300 in a matter of 15 minutes. Dumb game. Then, I hit the $50 BJ table again to try to get my money back. By 3am, I had dropped another $250 and was ready for bed.
So, after day 1, I'm down a total of about $950 right now. I need to play some poker, but this Blackjack thing keeps calling my name....
Sunday, July 30, 2006
Saturday, July 29, 2006
Tim Ord's Newsletter
He doesn't have the best writing skills, but he knows his shit. Especially in the gold market. He's bullish on the markets in the near term.
Friday, July 28, 2006
Okay, I'm exhausted, I'm friggin tired and I need a little rest. I'm pretty sure Vegas is NOT the answer, but I'll try my best to make it as relaxing as possible. What'd be nice is if I won one of those WSOP tourneys. We'll see. I might not even play in any of them.
Have a good weekend everyone.
Okay...looking back at the chart of the YM...I'm thinking to myself, why in the world did I short that initial lot? W-bottom, bullish divergence in the RSI...come on. I should've known better than that. I should've been thinking "BUY" instead of "SHORT". My second mistake was, why didn't I take my stop loss above the consolidation high at 11204? I saw it break, I was gonna take my stop, but I didn't. Once again, it got me in trouble. When will I ever learn? It's happened three times this week already...inexcusable.
One of these days, taking my stops will be automatic. No second guessing, no looking back...click and I'm out. It's like folding pocket Kings to a big reraise preflop. If you put the guy on pocket Aces, then it's a no brainer fold. You gotta do what you gotta do.
Even though I've lost more money in other weeks, this week has probably been the toughest on me. Perhaps it's because I've only had one winning session out of five trading days. And the one winning session was for a measly eleven bucks.
Looking back at my mistakes, I know what I did wrong. I just need to correct those mistakes, so that I won't repeat them going forward. It's hard, but if I put enough effort into remembering these mistakes, then I'm certain that I can eventually get to the point where I don't make these same mistakes over again. I'll be there one day and then I'll look back at a week like this week and say "wow, what a novice I was back in those days...". I'll be there one day...
So, I'm down $974.40 on the day right now. It's been an ugly week. We've got an hour and a half left in the trading day. Let see if I can find something worth playing.
For today, I think we'll be in the same situation as we have been in for the past two days. It's going to be narrow ranged trading with the DOW closing near where we started the day.
Thursday, July 27, 2006
Anybody who made good money in today's market, I commend you because it was NOT an easy day to trade. The one drop that happened, started when I went to lunch...go figure. 70 point drop and I missed it. SOB. F it...missed money is better than lost money.
I wish that it was this week that I was away on vacation because these past four days have been agonizing. It's like I'm sitting there with a short position and I'm saying "drop, drop, drop" and then we go make a new high. The YM tried to break 11125 for about an hour today and finally, it just gave up and burst to the upside. $600 gain wiped out in 2 minutes. Yeah, I doubled up on my short position at 11138. Stupid F'in YM. I ended up breaking even on that trade, but I had a nice gain. In hindsight, I should've taken half of my profits off of the table. Sometimes my mind is so made up about the direction of a stock that I lose all focus on what I should be doing. Take half of the profits off of the table and play it safe or let it ride? The little devil sitting on my left shoulder said to let it ride today. Stupid little red devil. Next time, I pull the little red devil's pants down and spank him when he tries to influence me.
Alright, I'm out. One more day till the weekend. Three more days till Vegas...
This is actually kinda fun. I like making a zillion trades a day. Scalping here, scalping there...
You should hear this guy in the pristine chat room, he's saying that the market "should've done this here" and "should've done that there" and that this is a "terrible trading environment"... I'm glad someone agrees with me that this week has been pretty tough to trade...
Wednesday, July 26, 2006
Short 5 YM at 11166
Covered 5 YM at 11169 for -$75
Short 5 YM at 11159
Covered 5 YM at 11141 for +$450
Damn, another tough day. I don't know if it was just me or what. It looks like DTT walked away with +0.79%, 4 winners and 1 loser, but they only trade stocks, so that's a little different.
Although I've had three days of losses, I'm not terribly disappointed because they've all been relatively small losses. I'm now -$1096.72 on the week, BUT the week's not over yet. Two more days to be exact. All I need is to do is to catch one good trend and I'm back to good. I'll tell you, it's been frustrating as hell over the past three days because I have expectations of making money EVERY SINGLE DAY and when I don't make money, I feel defeated. That's just the competitor in me yapping though. In reality, I don't know a single good trader that doesn't have days like I've had over the past three sessions. Once again...I guess I'll have to wait until tomorrow to get my money back..
I never realized that he was only 29 years old. It's kinda funny how there are so many people my age doing what I do. I'm sure it has a lot to do with the fact that we grew up around the same type of financial atomosphere.
Back when I was in college, in the internet bubble days, the stock market was the way to make money as stocks were flying high on a daily basis. When everyone lost all of their money in the stock market, online poker came about. I think the first time I played online poker was back in 2001, right when the market bottomed, but by that time, my stocks were practically worthless. Then, I started making money playing online poker. I probably could've made a living player poker, but it just wasn't what I wanted to do. The stock market is so much more exciting to me.
Anyways, these days, I keep reading about these 20 year olds making a killing from poker. I mean, look at this 21 year old kid, Jeff Madsen. He's won 2 WSOP bracelets already, placed 3rd in one tourney, and is currently at the final table of the Seven Card Sud High-Low 8/OB. Crazy if you ask me.
Well, it's lunchtime. The market has been a bore over the past few hours. I missed the last run, which kinda sucks because I WAS expecting it...I just mistimed the entry.
BTW...I'm heading to Vegas this coming Sunday for a week. I'm not planning on playing in the main event, but I may play in one or two of the $1k or $1.5k NL tourneys. I'm excited. I just gotta make sure I stay away from that BJ table. Look for my name on cardplayer.com. I'm gonna see if I can sign in as "boogster". Hah.
I covered when it broke the red downtrend line. At that time, it looked like a w-bottom and a breakout, but I wasn't sure. The fact that it made a new multi-hour high after it broke the downtrend line confirmed the brekout of the downtrend. So, the idea was to buy the first dip AFTER the breakout...not to buy the actual breakout. This is the mistake that many people make. Many people buy the breakout, but how do you know that it's a breakout until it's been confirmed? You always want confirmation of a trend change before entering a position. Remember that.
So, after the breakout, I thought that the first pullback was at 11113, but it wasn't. It was actually at 11104, so I bought a little too early, but in hindsight it still would've been okay as the YM is trading at 11139 right now.
I'm holding onto 2 contracts of the YM because I still think we're going lower and I always miss the big runs because I sell too early. I'm giving this trade a little room to drop lower.
Tuesday, July 25, 2006
Anyways, when the YM was at 11176, I felt the pain. Big time. It hurt. I was cursing and everything. Then a topping tail came...relief. Then the small slide came. Phew. I ended up covering 10 contracts at 11153 for -$750, 5 contracts at 11152 for -$350, and the last 5 contracts at 11147 for -$225 for a net loss of $1325 on that trade. MF'er. I was doing so well today too. +$800 at one point. And now, -$460.60 for the day. That makes me bitter. Very bitter. Shit happens. That's why daytrading is NOT for the faint of heart. Luckily, I'm still fairly young and my heart is still in fairly good shape....for now. Although I felt like I aged about 10 years today.
One of these days, I'm going to follow all of my trading "rules" and take my stops when I'm supposed to. Perhaps I should start by actually writing a set of trading rules? Good idea. The good thing about this blog is that I don't always notice my mistakes until I write them down. So, in a sense, this blog is a way for me to realize my mistakes and correct them. Not only that, but I hate posting losses. In writing this blog, it's made me much more cautious about entering trades because I know that I'll have to post a loss if it's a bad trade.
Days like today drive me to spend even more hours studying and reading and learning about daytrading because not only do I want to make massive amounts of money from this game, but also, I want to be untouchable. I want to be so good at this game that no one can touch me. This drives me more than anything. In order to be the best, I think it has to.
Okay, enough rambling. Get this...the YM is at 11127 right now, a full 10 points below my average. Let's see 10 points x 20 contracts x $5 multiplier = +$1000. Sometimes, I hate this game... Good thing that tomorrow is a new day...
Secondly, very rarely did these guys trade before 9:50am. Rarely. Before, I used to enter trades right at the market open. Sometimes I would make money, other times I would not, but the thing about trading right at the market open is uncertainty. In order to consistently make money in this game, I've realized that I have to take as much uncertainty out of this game as possible. That means, no trading until after the 9:50am - 10:10am reversal time!
What else? Well, I noticed that these guys rarely made more than 5 or 6 round trips trades per day. I remember having 15-20 round trip trades per day just a few weeks ago. Seriously, what the hell am I thinking making so many trades per day? The idea is to take the low risk / high reward plays...not every single W-bottom and M-top that shows up on the intra-day chart. So, trade less and cut out the 50/50 trades.
These are just a few of the things that I've noticed about the successful traders that I've been watching over the past few weeks. I think the only way to become better is to understand and perhaps even mimic how successful traders operate.
Just some random thoughts. Now, let's make some money...or try not to lose any back...
Here's your chance to learn about the YM from a professional trader.
Monday, July 24, 2006
Alright, I'm out. I'm glad tomorrow's a new day.
Time to punish myself by going to the gym...
Also, one of the co-founders, Greg Capra, of Pristine.com is moderating the chat room. It looks like the old moderator, Sean Patridge, the idiot, decided to "take a break" or perhaps even quit, which is good because this guy, Greg Capra, normally charges $5k to $10k for session with him. He knows his shit.
Blogger sucking today...I'm sucking too. Can someone tell me why I'm shorting this market? You figure that I would've learned my lesson last Thursday already....
What does this mean? Well, we're going higher short term, potentially 10-15%, but the bad news is that we will most likely come back down to this point within the next two months to retest this low. My plan for this week is to do more buying than selling.
With that said, it's go time on the HANS short. Two weeks ago, I said that it was almost time to short HANS. Today, I'm saying that it IS time to short HANS. Take a look at the charts:
The last high was made on lower RSI on the daily chart and the uptrend line was broken to the downside two trading sessions ago. IMO, it's time to short this puppy. I will probably be shorting today in my swing trading portfolio. ALL ABOARD....
Sunday, July 23, 2006
Hand #33597530-5956 at Havant (No Limit Hold'em)
Powered by UltimateBet
Started at 23/Jul/06 19:52:20
zehnq is at seat 1 with $340.95.
gwa22 is at seat 2 with $298.90.
valek is at seat 3 with $591.
PkrStud69420 is at seat 4 with $737.40.
boogster is at seat 5 with $282.
The button is at seat 3.
PkrStud69420 posts the small blind of $3.
boogster posts the big blind of $6.
zehnq: -- --
gwa22: -- --
valek: -- --
PkrStud69420: -- --
boogster: Qd Qh
zehnq raises to $15. gwa22 folds. valek folds.
PkrStud69420 calls. boogster re-raises to $40.50.
zehnq calls. PkrStud69420 folds.
Flop (board: 2s 2h Jc):
boogster bets $96. zehnq goes all-in for $300.45.
boogster goes all-in for $241.50. zehnq is
returned $58.95 (uncalled).
Turn (board: 2s 2h Jc Td):
(no action in this round)
River (board: 2s 2h Jc Td Th):
(no action in this round)
zehnq shows Ah Js.
zehnq has Ah Js Jc Td Th: two pair, jacks and tens.
boogster shows Qd Qh.
boogster has Qd Qh Jc Td Th: two pair, queens and tens.
Hand #33597530-5956 Summary:
$2 is raked from a pot of $579.
boogster wins $577 with two pair, queens and tens.
Saturday, July 22, 2006
So, a reader asked me to revisit GOOG. I'll start with the chart:
Where do we go from here? The short answer is...up. We're at uptrend support, RSI is low and the bar that formed last Friday is a short term reversal bar called a hammer. I also like the increased volume on thursday's bar, which also signals a short term bottom. So, if you want to play GOOG for the short term, then yes, I would recommend buying here. You can sell at the uptrend line, which is currently around the $410-$415 level.
Is it time to load up for the longer term? Well, not quite yet. The pattern that's forming on the daily chart is known as a sideways triangle, which according to the rules, is bullish, since GOOG is technically in an uptrend. However, until that pattern is broken to the upside with volume, GOOG is not a buy for the long term.
That's where we stand with GOOG. Who knows, this could be the bottom before we make that longer term move that I'm still expecting. However, it's always better to play the first pullback after the breakout than trying to catch the exact bottom. Confirmation is key. If you want to be aggressive, then you can enter your long position here.
*********** # 1 **************
PokerStars Game #5641918279: Hold'em No Limit ($2/$4) - 2006/07/22 - 11:43:07 (ET)
Table 'Glauke' 6-max Seat #4 is the button
Seat 1: pimpinkins ($453.75 in chips)
Seat 2: VaeSolis ($416.30 in chips)
Seat 3: stinkerb ($160 in chips)
Seat 4: boogster ($327.20 in chips)
Seat 5: ianonabeach ($142.25 in chips)
Seat 6: King Jamis ($204.20 in chips)
ianonabeach: posts small blind $2
King Jamis: posts big blind $4
stinkerb: posts big blind $4
*** HOLE CARDS ***
Dealt to boogster [Ah 7h]
boogster: calls $4
King Jamis: checks
*** FLOP *** [5s Kh Ts]
King Jamis: checks
*** TURN *** [5s Kh Ts] [Jh]
King Jamis: bets $10
stinkerb: calls $10
boogster: calls $10
*** RIVER *** [5s Kh Ts Jh] [3h]
King Jamis: bets $40
stinkerb: calls $40
boogster: raises $273.20 to $313.20 and is all-in
King Jamis: calls $150.20 and is all-in
stinkerb: calls $106 and is all-in
*** SHOW DOWN ***
boogster: shows [Ah 7h] (a flush, Ace high)
King Jamis: shows [Th 4h] (a flush, King high)
boogster collected $88.40 from side pot
stinkerb: mucks hand
boogster collected $479 from main pot
King Jamis leaves the table
*** SUMMARY ***
Total pot $570.40 Main pot $479. Side pot $88.40. Rake $3
Board [5s Kh Ts Jh 3h]
Seat 1: pimpinkins folded before Flop (didn't bet)
Seat 2: VaeSolis folded before Flop (didn't bet)
Seat 3: stinkerb mucked [Kd Td]
Seat 4: boogster (button) showed [Ah 7h] and won ($567.40) with a flush, Ace high
Seat 5: ianonabeach (small blind) folded before Flop
Seat 6: King Jamis (big blind) showed [Th 4h] and lost with a flush, King high
Thursday, July 20, 2006
So, I'm done for the week. I'm going on another fishing trip tomorrow. Sandy Point in Maryland to catch some Rock Fish. Yeah...I've succumbed to fishing as my sport of choice after busting my knee (torn acl). Although, I did go to the doc's yesterday and he said that I could start running and golfing now, so I'm almost back in business. Still no soccer for another 3 months though. Hopefully, I'll be able to get my golf game going again in these last three months that I'm outta commission. I'm ready to take some money from my buddies who claim that they're "golfing pros".
Well...I'm +$3284.22 on the week. It's been a while since I've posted such a nice number. It'd be nice if I could do this every week. Hopefully, one of these days, it will be like this every week...
I'd do it, but I'm going fishing tomorrow, so I won't be able to sell my options at the market open...
Oh yeah...GOOG announces earnings after the close...
I don't get anything out of it if you sign up. I just enjoy promoting good service. Perhaps it's because I can relate to these guys...they're all in their late 20s, own their own business, and daytrade stocks.
Andy Swan Interview
A lot of what he says sounds very familiar, except I only lost about $20k back in the late 90s and I never went to law school...hah.
If you're wondering why I've been using the TICK and TRIN as indicators, it's because I just finished the Pristine.com Market Internals DVD last night. I should finished it a long time ago. I think that DVD is going to help my "game" tremendously. It's got some valuable insight in there. I'd recommend buying it when you get the chance, but not until after you've learned the basics.
Wednesday, July 19, 2006
Today was bound to happen. It's like the Mike Matasow blowup. The total for my YM trades were -$1807.50 and I made $120 on my SHLD trade, which puts my daily total at -$1687.50. I didn't count the DIA options trade because it was in my swing trading portfolio. Ehh...not a good day today. I swear though, one of these days, I'm going to have an ulcer...trading is not for the faint of heart...
Considering that the DOW is up 207 points and not once did I go long the stock...I consider my loss, fortunate. This is what I get for trying to buck the trend. What an idiot. Imagine if I would've bought the market the entire day...I probably would've made loot. The sad thing is that I was expecting the market to go higher...yet I shorted and shorted and shorted....
The uptrend line was just broken, so we should see at least a 40%-60% fibonacci retracement from high to low, which would put the downside target at around the 10950 area. Be careful though...I have a feeling that we're going to dip to that area, then immediately turn back towards the upside. Don't get caught with your hand in the cookie jar. Don't forget that we're still in an uptrend, which means, buy on the dips...not short on the surges. Keep an eye on RSI...
Time to roll...be back around 2pm or so.
F me...I've got a doctor's appointment in about 40 minutes here. This market looks like it's going to retrace back down, but I can't really hold onto it while I'm gone, could I? This could be one of those $800 burrito episodes. Imagine a $2k doctor's appointment. I'll probably dump before I leave here in 10 mins...
Now, check this website out:
I had money at this sportsbetting site at one point. A few thousand, if I remember correctly, but I took it all out 6-8 months ago. I can't imagine if my sportsbetting site had closed down like this...would I get my money back?
***** Hand History for Game 4759646898 *****
$400 NL Texas Hold'em - Wednesday, July 19, 01:11:33 ET 2006
Table Fryerstown (No DP) (Real Money)
Seat 4 is the button
Total number of players : 6
Seat 2: GBullen ( $0 )
Seat 4: skinsrback ( $607 )
Seat 5: boogster ( $445.30 )
Seat 1: pete120 ( $1799.67 )
Seat 6: XChanp ( $400 )
Seat 3: VPIP23PFR17 ( $661.80 )
boogster posts small blind [$2].
XChanp posts big blind [$4].
** Dealing down cards **
Dealt to boogster [ 9d Qd ]
boogster calls [$2].
XChanp raises [$11].
boogster calls [$11].
** Dealing Flop ** [ 6s, 8h, 7s ]
XChanp bets [$22].
boogster calls [$22].
** Dealing Turn ** [ Ac ]
XChanp bets [$55].
boogster raises [$110].
XChanp calls [$55].
** Dealing River ** [ 3d ]
boogster bets [$150].
boogster does not show cards.
boogster wins $442
My problem is that I get way more of an adrenaline rush from doing things like this than winning the easy way (grinding it out). I swear, it's killing poker game. I used to be sooo disciplined in poker. And now, I am just the opposite. I don't like it. I definately need to fix my game.
Here was the hand. In a $1/$2 NL game, I had pocket Aces in the cutoff (one away from the button). I raised it up to $8, my standard raise. The player on the button just called my raise. The flop came 4-6-7 with two hearts. I bet out $15 and he raised it up to $55. A huge raise which screamed to me that he had top pair. I reraised up to $175. And he quickly went all-in. I had about $150 left and he had me covered. What should I have done?
I mean, the whole point of my reraise was to see if he really had the goods and he passed the test. By reraising me all-in, I should've known that he had a good hand, right? If I'm going to call his reraise anyways, then why not just push all-in on the flop?? See what I'm getting at? I reraised to find out what he had. He pushed all-in telling me that he had a made hand. The correct play would've be to fold, unless, of course, I put him on a bluff, which I didn't. I ended up calling his all-in and he turned over pocket fours for trip fours which held up. $350 gone.
I keep making these same mistakes over and over again. I should know better. My poker game has gone to shit lately. I think it's time to make another trip up to AC to fix my poker game...
Tuesday, July 18, 2006
Now, I was always able to figure out the M-top and W-bottoms, but the one thing that I did not use before was RSI. I know, RSI doesn't always give you the correct direction of a stock, but neither does any other indicator. However, I've found that RSI is a good indicator of when I should be looking to enter a stock and/or when I should be looking to sell the stock.
The first M-top. Notice how high the RSI was on the first top. Definately a sign that a consolidation or drop was coming. The second top made a much lower RSI reading, but it was still close to the 70 mark, which made the YM shortable. I didn't take this entry because it was still before 10am.
The first W-bottom. Notice how the YM made a lower low, but the RSI made a higher low. This is called a bullish divergence, which means that the second dip was buyable. I entered at 10763. Actually, I doubled down on my long position because I failed to take a stop on my first lot. Anyways, make note that RSI was below 30, which wasalso a signal to buy. And volume declined on the second bottom from the first bottom.
The breakout failure and 180 degree reversal. Some people may have bought the breakout at that point, but if they looked at the RSI, they would've noticed that it was way too high. That's why I didn't buy the breakout. Then, the following bar, was a 180 degree reversal red bar, which started a huge downslide. I got caught in one of these last week and it cost me about $1500. It a lock that if I looked at the RSI, I would never have entered that trade. This breakout failure should've been shortable too, but I'm still learning how to trade these, so I did not enter the short position here.
The second W-bottom. I did not take this one either, but notice the signs. Declining volume, RSI below 30, higher RSI on the second bottom, etc. It was a gimme. An agressive entry would've been at the low on the second bottom. The less agressive entry would've been to buy on the first dip after the breakout.
The third W-bottom. I didn't take this entry either, but the same signs were there. Not only that, but the bottom was formed on a 50% fibonacci retracement of the prior move up.
I don't know if anybody will even read this, but I think disecting the intra-day action helps me become a better trader in the long run because it helps me see things that I may have missed during the trading day.
The funny thing is, I didn't even know what the YM was just 4 months ago. I spent $450 for two months in the Pristine.com e-mini chat room. Even though the moderator was an idiot, I learned a crapload from him. Before I joined that room, I was still trading using the 15-minute charts. Now, I trade mainly with the 2-minute charts.
Also, I must say that I owe a lot to Daytradeteam.com. Even though I've lost money in the majority of their stock picks, I've learned a hell of a lot from their trading style. I hardly ever used RSI before I joined that chat room. Now, I can't trade without it.
When I joined those two chat rooms, my sole intention was to learn...I didn't join to make money the easy way. It's all about knowledge for me, not about the quick fix. In hindsight, I'm definately glad that I paid the money to join those two rooms. I recommend to anyone who's serious about trading to pay the money and learn from the pros. It will accelerate the learning process tremendously.
Alright, I'm out. I had another bad session at UB last night. I'm down about $3k right now. The bad beats were absolutely ridiculous. It's gotten to the point where I will no longer play at UB because I don't feel as though I have total control over how much I win or lose at that site. In my opinion, there's something seriously wrong with their gaming software. And no, it's not just because I lost money there. I've played thousands and thousands of hours online and I know when something is not right. UB is not right.
With that said, I'm going to grind it out at Party. I need to make up the $3000 that I dropped at UB and the $850 that I dropped at $1/$2 NL last week. That reminds me, I "conveniently" forgot to write up the fact that I dropped $850 last week in the game that I said I was going to wrap my winnings around in a rubber band and smack the other players in the face with it. Call it embarrassment, call it whatever you want...but one thing is for sure, those beatches will pay for taking my money. Pay, I say. Beatches.
Alright, I'm done for the day. I'm out.
With 10 minutes left in the trading day, there's no chance that I'm getting into a position right now. I would hold some YM overnight, but RSI is pretty high up here and I should have a chance to buy slightly lower tomorrow morning. Besides, holding a position overnight kills my sleep.
Monday, July 17, 2006
DTT is recommending GOOG as their overnight gapper. I like GOOG long, but I'm not a big fan of holding that puppy overnight because I've seen it gap down big before...and I'm sure it wasn't fun for those holding it.
I'm sooo tempted to buy and hold the YM overnight as I still think that it's oversold right here and that we'll most likely gap up tomorrow...
We've retraced 100% from the morning runup...this is not a good looking day for the longs. I'm not going to fight the trend, so I'm gonna go with the flow all day today.
So, I ended up getting a little bit back. $600 to be exact. Actually, I was down another thousand during that four hours, but I redeposited another thousand and won back $1600. I'm only down $1700 now. Yeah...only. MF'ers. F online poker. It's such a friggin grind.
Bed time...market opens in 7 hours.
Hand #32811527-51718 at Gloucester (No Limit Hold'em)
Powered by UltimateBet
Started at 17/Jul/06 00:13:52
Ash099 is at seat 0 with $1989.40.
OSOIRIE is at seat 1 with $145.50.
Zilios is at seat 2 with $674.70.
mikech is at seat 3 with $348.80.
boogster is at seat 4 with $518.20.
mugen1985 is at seat 5 with $192.10.
The button is at seat 5.
Ash099 posts the small blind of $2.
OSOIRIE posts the big blind of $4.
Ash099: -- --
OSOIRIE: -- --
Zilios: -- --
mikech: -- --
boogster: Ks Kc
mugen1985: -- --
Zilios folds. mikech calls. boogster raises to $18.
mugen1985 folds. Ash099 re-raises to $57. OSOIRIE
folds. mikech folds. boogster calls.
Flop (board: 6h Tc 5h):
Ash099 bets $75. boogster calls.
Turn (board: 6h Tc 5h Jd):
Ash099 checks. boogster checks.
River (board: 6h Tc 5h Jd 8h):
Ash099 bets $125. boogster calls.
Ash099 shows Ad Ah.
Ash099 has Ad Ah Tc Jd 8h: a pair of aces.
boogster mucks cards.
(boogster has Ks Kc.)
Hand #32811527-51718 Summary:
$3 is raked from a pot of $522.
Ash099 wins $519 with a pair of aces.
This guy had $2000 at a $400 max $2/$4 NL game. This means that he won $1600 just from that one table. And I was actually sitting at two other tables with him. He had over $1000 at the other two tables as well. When a player is running this hot, there's no point in playing any hands with him because he's going to win most of the time anyways. We've all been there before. Pocket Kings and I know that I'm going to lose the hand.
Boy, does it feel good when I'm the one sucking out on them:
Hand #32811527-51870 at Gloucester (No Limit Hold'em)
Powered by UltimateBet
Started at 17/Jul/06 01:19:29
xcaliberx21 is at seat 0 with $156.20.
Frank Been is at seat 1 with $188.80.
Thepuritan is at seat 2 with $390.
3 is at seat 3 with $191.50.
boogster is at seat 4 with $902.
PReDiKT is at seat 5 with $556.
The button is at seat 1.
Thepuritan posts the small blind of $2.
3 posts the big blind of $4.
xcaliberx21: -- --
Frank Been: -- --
Thepuritan: -- --
3: -- --
boogster: Kh Qs
PReDiKT: -- --
boogster raises to $8. PReDiKT folds. xcaliberx21
folds. Frank Been folds. Thepuritan calls. 3
Flop (board: Kd 2h 6h):
Thepuritan checks. 3 checks. boogster bets $15.
Thepuritan raises to $45. 3 folds. boogster calls.
Turn (board: Kd 2h 6h 8s):
Thepuritan bets $70. boogster calls.
River (board: Kd 2h 6h 8s Qd):
Thepuritan checks. boogster bets $125. Thepuritan
boogster shows Kh Qs.
boogster has Kh Qs Kd 8s Qd: two pair, kings and queens.
Thepuritan mucks cards.
(Thepuritan has Ac Kc.)
Hand #32811527-51870 Summary:
$3 is raked from a pot of $504.
boogster wins $501 with two pair, kings and queens.
Sunday, July 16, 2006
Once I make my money back, all $2300 of it...I'm gonna quit forever... (you know that's not gonna happen)...
Man, I've got a lot of making up to do...starting with the $4700 that I lost in AC...
Saturday, July 15, 2006
With that said, this chart explains exactly what I look for in trades and how I trade.
Friday, July 14, 2006
Well...time to go enjoy the weekend. I'm out!
I got my $750 back and I'm on the plus side for the week now. I'm content.
It a lock that I make a few more trades before the close...I've got no discipline whatsoever.
Remember that scene in Rounders, right after Mikey busts KGB for the first time. He gets all of his money back and he was half way back to paying his professor back. Then KGB starts taunting him..."like a little boy coming in for a quickie..." And then Mikey thinks for a second and says "let's double the blinds"...
I feel like I'm at that same crossroad right now. My goal was to get all of the money back that I had lost in the beginning of the week. Well, I got it all back plus a few hundred. I'm content, but I'm not quite satified yet. I want to end the week with more than just a few hundred in profits....this is called GREED. The FEAR will set in when I'm down a thousand with 10 minutes left in the trading day....
Umm...I think I better quit now, while I'm still ahead................................
I may just buy some YM here and hold it until Monday and just call it a day. I'm definately bullish on the YM in this area. There's huge support and we've gone down BIG over the past three trading sessions. We'll see what happens towards to the close...
Now, the cost of each futures contract is determined using this method called Standard Portfolio Analysis of Risk (SPAN). Basically, instead of paying $11,000 for each YM contract, you would need cash in your account to cover the profits and losses based on the volatility of the futures contract. So, the "cost requirements" are different for each futures contract.
For the YM, there is an intra-day cash requirement of $1,219 per contract. So, if you buy 10 contracts, you would need at least $12,190 in your account. Here's a list of all of the cash requirements for each of the different futures contracts:
I hope that answers some of the questions posed.
3 YM at 10805
3 YM at 10787
4 YM at 10762
10 YM at an average of 10782
I like the YM down here, but I don't want to get overextended to the point where I'm nervous about my position. So, I'm taking a small loss here and holding the other 5 contracts. I will buy more when I see a definate bottom.
Looking at this chart, we should see some support around the $107.35 - $107.50 area. DIA is trading at $107.97 x $107.98 right now. Of course, you should always wait for a bottoming sign (double bottom, declining volume, high TRIN, etc.) before entering the position. Don't forget that this stock is still a falling knife and you know what they say about falling knives right? Don't try to catch em.
Thursday, July 13, 2006
I still have about $750 to make up for my early week losses. I'll work on that tomorrow. Ending the week with a loss ruins my weekends because all I can think about is winning that money back. And I can't do it until the following Monday. Sucks! But tomorrow is a new day...
I'm playing in a $1/$2 NL game tonight...or perhaps a mixed game, not exactly sure yet. It's a friendly game, but a few of the guys have been talking shit, so it's time to shut them up. I'm gonna take their money, put a rubber band around my winnings, and then smack them in the face with it. Dumb bitches. Just kidding. It's a friendly game.
If we can break this uptrend line at 10986, it's gonna be blood in the streets...keep an eye on it. For those of you who are following the DIA, look for a break of $109.33 to the downside.