Comments on: AMR Corp. (AMR) http://www.uglychart.com/2006/08/10/amr-corp-amr-2/ Beauty is in the eye of the shareholder Mon, 08 Sep 2008 18:37:14 +0000 http://wordpress.org/?v=2.6.1 By: uglychart.com » Blog Archive » August 2006 Review http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1371 uglychart.com » Blog Archive » August 2006 Review Fri, 01 Sep 2006 13:57:42 +0000 http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1371 [...] I am so glad August is over. This was my worst month so far: This is a chart of my cumulative R. I was about even before commission and down some after commission for the month. Where did I go wrong? I broke my rules. I had the two worst days of my career this month. I made too many trades. I’m sure the success of my previous two months had something to do with it. This, among a few other things I have going on, may have caused some psychological pressure. Also, I think market conditons were not ideal. My discipline was poor. The blame falls on myself - but I will learn from my mistakes. This month was a blow to my confidence. I don’t like the uncertainty that keeps creeping back up just when I am feeling pretty certain and confident about my future as a trader. Trading is hard. I’m not making much money. It seems like every time you think you have it figured out, you find out you are wrong. I’m taking tomorrow off. My goal for the next couple of months is to trade my system without breaking any rules so that I can clearly see, from my trading journal and my trading results, that it works. I want to know that it works and how well it works, so that I can get some certainty back into my life. I need a well defined system and routine in my trading that I won’t have trouble sticking to when times get rough - as they have this month. From my losing streak this month, I have learned that it is much more difficult to stick to your rules when you arern’t doing well. It messes with your head. I play guitar and when I play something enough, it doesn’t matter what’s going on in my head - my fingers will do their job without a problem. I could be in front of a large audience or talking to someone or just alone in my room and my fingers pick the strings the same way, with the same rhythm. I want to trade my system repeatedly, without fail, the same way over and over every day so that it becomes a pattern and a habit. I want it to be carved into my brain so that I stick to my system without even thinking about it. On a winning streak or a losing streak, or whatever the market conditions - I want to trade my system the same way I play guitar or breath - without even thinking about it. My goal for September and October is to trade without breaking my rules. [...] [...] I am so glad August is over. This was my worst month so far: This is a chart of my cumulative R. I was about even before commission and down some after commission for the month. Where did I go wrong? I broke my rules. I had the two worst days of my career this month. I made too many trades. I’m sure the success of my previous two months had something to do with it. This, among a few other things I have going on, may have caused some psychological pressure. Also, I think market conditons were not ideal. My discipline was poor. The blame falls on myself - but I will learn from my mistakes. This month was a blow to my confidence. I don’t like the uncertainty that keeps creeping back up just when I am feeling pretty certain and confident about my future as a trader. Trading is hard. I’m not making much money. It seems like every time you think you have it figured out, you find out you are wrong. I’m taking tomorrow off. My goal for the next couple of months is to trade my system without breaking any rules so that I can clearly see, from my trading journal and my trading results, that it works. I want to know that it works and how well it works, so that I can get some certainty back into my life. I need a well defined system and routine in my trading that I won’t have trouble sticking to when times get rough - as they have this month. From my losing streak this month, I have learned that it is much more difficult to stick to your rules when you arern’t doing well. It messes with your head. I play guitar and when I play something enough, it doesn’t matter what’s going on in my head - my fingers will do their job without a problem. I could be in front of a large audience or talking to someone or just alone in my room and my fingers pick the strings the same way, with the same rhythm. I want to trade my system repeatedly, without fail, the same way over and over every day so that it becomes a pattern and a habit. I want it to be carved into my brain so that I stick to my system without even thinking about it. On a winning streak or a losing streak, or whatever the market conditions - I want to trade my system the same way I play guitar or breath - without even thinking about it. My goal for September and October is to trade without breaking my rules. [...]

]]> By: uglychart.com » Blog Archive » Worst day of the year http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1314 uglychart.com » Blog Archive » Worst day of the year Fri, 25 Aug 2006 22:01:09 +0000 http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1314 [...] Well, I had another worst day of the year. That makes two for August. Ouch. It is a miracle that I am only down commission for the month. That means if you took the other side of my trades you would be down even more. Commissions this month have been a bitch because I have been overtrading like mad. I really have to do something about it. I broke all my rules. It’s embarrassing to post how weak I am at following my own rules. It is pretty pathetic. I recognize it as pathetic. I would like everyone to know that I am pathetic at following my trading rules. I just have to put this day behind me. Is trading just an endless process of breaking your own rules and then sticking to them for a while and then breaking them again? I hope not. I’d like to progress so that these breakages become fewer and farther between. [...] [...] Well, I had another worst day of the year. That makes two for August. Ouch. It is a miracle that I am only down commission for the month. That means if you took the other side of my trades you would be down even more. Commissions this month have been a bitch because I have been overtrading like mad. I really have to do something about it. I broke all my rules. It’s embarrassing to post how weak I am at following my own rules. It is pretty pathetic. I recognize it as pathetic. I would like everyone to know that I am pathetic at following my trading rules. I just have to put this day behind me. Is trading just an endless process of breaking your own rules and then sticking to them for a while and then breaking them again? I hope not. I’d like to progress so that these breakages become fewer and farther between. [...]

]]> By: uglychart.com » Blog Archive » Aug 2006 Week 2 Review http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1215 uglychart.com » Blog Archive » Aug 2006 Week 2 Review Sun, 13 Aug 2006 13:12:06 +0000 http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1215 [...] This week was pretty much more of last week. It has been a choppy start to August and I have been treading water: Despite having the worst trading day of my career on Thursday, I somehow managed to end the week in the green. It gives me confidence to know that even when things get bad, they aren’t that bad. The good thing about the week is that I was able to think about my system and the importance of following my rules. I followed my system very carefully on Friday and made back 5% of the 7% I lost the day before. I think some of the reasons for the poor results of this week were: [...] [...] This week was pretty much more of last week. It has been a choppy start to August and I have been treading water: Despite having the worst trading day of my career on Thursday, I somehow managed to end the week in the green. It gives me confidence to know that even when things get bad, they aren’t that bad. The good thing about the week is that I was able to think about my system and the importance of following my rules. I followed my system very carefully on Friday and made back 5% of the 7% I lost the day before. I think some of the reasons for the poor results of this week were: [...]

]]> By: GX http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1202 GX Fri, 11 Aug 2006 17:31:32 +0000 http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1202 Was looking for shorts this morning, SPY was topped out intraday yesterday. Caught ADI(15) entry below 2nd candle and OR. Covered 1/2 at $1 then other 1/2 at 138 extension FIB. Action today is choppy no follow through other than the low volume CAL and AMR shorts that I shyed away from. From the looks of my SPY indicator we may see a minor up move later in day or Monday morning. Trade well everyone. Was looking for shorts this morning, SPY was topped out intraday yesterday.

Caught ADI(15) entry below 2nd candle and OR. Covered 1/2 at $1 then other 1/2 at 138 extension FIB.

Action today is choppy no follow through other than the low volume CAL and AMR shorts that I shyed away from.

From the looks of my SPY indicator we may see a minor up move later in day or Monday morning.

Trade well everyone.

]]> By: ugly http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1199 ugly Fri, 11 Aug 2006 12:47:03 +0000 http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1199 John: thanks Jon: you just have to keep on keepin' on John: thanks
Jon: you just have to keep on keepin’ on

]]> By: Jon Tait http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1195 Jon Tait Fri, 11 Aug 2006 06:08:47 +0000 http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1195 I lost 7% of my discretionary stock trading account yesterday. I got caught in XWG, which was trading at support as noted by my watch list blog post from Sunday. Stocks gap down 25% from time to time and it stinks, but it is part of the risk I choose to take. The worst part is that the day before that I doubled up on my position in anticipation of a 12% price move from the bottom half of the range to the top half of the range where I had a limit sell. When the intraday breakout didn't follow through, I figured it probably would the next day. The next day it followed through all right, way the hell out of the bottom of the range! I've had worse days and I always recover when I take my time. I'm sure you will too. I lost 7% of my discretionary stock trading account yesterday. I got caught in XWG, which was trading at support as noted by my watch list blog post from Sunday. Stocks gap down 25% from time to time and it stinks, but it is part of the risk I choose to take. The worst part is that the day before that I doubled up on my position in anticipation of a 12% price move from the bottom half of the range to the top half of the range where I had a limit sell. When the intraday breakout didn’t follow through, I figured it probably would the next day. The next day it followed through all right, way the hell out of the bottom of the range!

I’ve had worse days and I always recover when I take my time. I’m sure you will too.

]]> By: John http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1194 John Fri, 11 Aug 2006 02:32:33 +0000 http://www.uglychart.com/2006/08/10/amr-corp-amr-2/#comment-1194 That is a great point about having rules that fit you. That is a great point about having rules that fit you.

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