Monday, May 14, 2007

I Just Missed IT



My day was dominated by TNH, so I will post here all of my trades. This will give you an idea of how close I came to hitting this one out of the park today. I'm not taking anything away from my day today. I'm very happy with the results, but I just missed a real breakout for myself and I am a little frustrated. I'm sure that may sound a little obnoxious given the profits I made today, but when you trade day in and day out, it's also about trading well. I mean, just feeling like you did a good job, made some nice trades. There's a satisfaction in that separate from the money made. Yellow indicates short sales, my position size is reflected in the parentheses to the right of the trade.

9:37:33 Short 200 @ 99.72 (-200)

9:39:27 Buy 100 @ 98.88 (-100)

9:50:05 Buy 200 @ 98.85 (100)

9:50:17 Sell 100 @ 98.53 (flat)

9:51:54 Short 100 @ 98.50 (-100)

9:52:40 Short 100 @ 98.34 (-200)

9:53:59 Short 100 @ 98.06 (-300)

10:10:25 Short 100 @ 96.69 (-400)

10:13:45 Short 200 @ 96.95 (-600)

10:18:54 Short 100 @ 97.45 (-700)

10:30:56 Buy 100 @ 95.46 (-600)

10:33:06 Buy 200 @ 94.52 (-400)

10:35:07 Short 200 @ 96.20 (-600)

10:44:12 Buy 100 @ 95.26 (-500)

10:45:18 Short 100 @ 95.90 (-600)

10:52:01 Buy 300 @ 96.94 (-300)

10:58:46 Short 200 @ 96.31 (-500)

11:07:28 Buy 100 @ 94.83 (-400)

11:32:45 Buy 100 @ 96.20 (-300)

11:38:43 Buy 200 @ 94.99 (-100)

11:50:30 Short 100 @ 96.30 (-200)

12:00:41 Buy 100 @ 95.36 (-100)

12:50:38 Buy 100 @ 96.47 (flat)

13:27:03 Short 100 @ 96.79 (-100)

13:45:22 Short 100 @ 95.36 (-200)

13:52:35 Short 100 @ 95.68 (-300)

14:07:57 Buy 100 @ 93.48 (-200)

14:47:29 Buy 100 @ 92.24 (-100)

15:15:13 Buy 100 @ 92.24 (flat)

15:18:56 Buy 200 @ 89.10 (200)

15:19:06 Sell 100 @ 88.50 (100)

15:20:21 Sell 100 @ 89.36 (flat)

15:23:35 Buy 300 @ 88.80 (300)

15:24:26 Sell 100 @ 88.64 (200)

15:25:10 Sell 200 @ 88.41 (flat)

15:30:48 Short 200 @ 88.52 (-200)

15:35:35 Buy 100 @ 88.74 (-100)

15:36:09 Buy 100 @ 88.76 (flat)

15:47:49 Buy 600 @ 84.92 (600)

15:48:07 Sell 300 @ 84.56 (300)

15:48:31 Sell 100 @ 84.50 (200)

15:50:18 Sell 100 @ 85.53 (100)

15:50:35 Sell 100 @ 85.42 (flat)

Total Profits in TNH $2786 (net).

Anyway, so that was my day in TNH. For the record, I lost over $2000 in him on Friday. I was a day early on Friday. Looking back, that really screwed me up today because I was so nervous trading the stock. Had I not lost that confidence in him on Friday I may have had the nerve to hang on to more shares. It was so obvious to me today, even in the morning when he wasn't trading down aggressively that the buyers were gone. Bids would appear and then get hit, or step back. On Friday, a bid would send the stock up 80 cents...

This was a near miss. But I think I learned a lot between Friday and today. I hope it will benefit me next time I see a monster trade like this.

Anyway, here are the stats:

P&L, $3340

Best, TNH, $2786

Worst, AG, -$495

shares traded, 49,600

stocks traded, 17, 5 positive, 12 negative

total trades, 324

8 comments:

Bill said...

Dinosaur,
Thanks for posting your TNH trades for the day. I find it very interesting to see how the high volume traders, such as yourself, make a living.

If I'm reading the list right, you were never long or short more than 700 shares at any one time picking up a few dollars here and there while not exposing your account to any one risky trade. And made a very nice profit doing it.

Good job.

Bill

wincity said...

Congrats on the TNH trades. I was only brave enough to short the morning spike for $1.

Dinosaur Trader said...

Bill,

Yeah, I thought it might help just to post all of my trades, because I've been getting email asking about how/why I trade so many shares. I hope posting the trades of a stock I traded actively helps to answer those questions.

You are correct, my largest position was 700 shares in TNH. The stock has been very thin and volatile lately, and it can easily spike over a point or two in no time, meaning that I was risking $700-$1400 when I was maxed out. That's a lot for me considering I've been losing so badly these last few months.

Anyway, thanks for reading. Glad you enjoyed the trade post.

-DT

Dinosaur Trader said...

win,

Thanks. It's been a scary trade lately. I wonder if it dies now. I hope not...

-DT

tan said...

Nice day! I was trying to buy TNH the last hour as it crashes down. Luckly I didn't get run over.

I just discover your blog for the first time. May I ask what kind of commission you pay as a professional day trader?
thanks,

Arway

Dinosaur Trader said...

tan,

Welcome!

I timed my TNH long perfectly at around 3:45 and I still lost money on that trade. He filled me over a point from the bottom... very tough long trade today.

I've been a trader for 8 years and have always worked at prop firms. My rates have ranged from 2 cents per share traded to my current rate of .0025 per share. Most firms will base your rate on volume.

-DT

Woodshedder said...

I tried to short TNH this afternoon and couldn't get any shares. This was at 92. I would have loved to catch the 8+ point move down. Dammit!

Dinosaur Trader said...

Woodshedder,

Yeah, it's sometimes tough to borrow shares. I wish it was tougher on Friday when all I did was get squeezed in him all day!

-DT