Comments on: AMR Corp. (AMR) http://www.uglychart.com/2006/09/12/amr-corp-amr-3/ Beauty is in the eye of the shareholder Mon, 08 Sep 2008 18:54:43 +0000 http://wordpress.org/?v=2.6.1 By: uglychart.com » Blog Archive » SanDisk Corp. (SNDK), Cypress Semiconductor Corporation (CY) http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1872 uglychart.com » Blog Archive » SanDisk Corp. (SNDK), Cypress Semiconductor Corporation (CY) Wed, 04 Oct 2006 23:10:29 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1872 [...] All I can say about today is FINALLY!!!! Oh man, I have been waiting so long……. I feel like I have been in the desert looking for water for weeks and I finally found an oasis. Remember my anology of boxing with your hands tied behind your back? Well today I finally got both arms free and nailed the son of a bitch right in the face. No computer glitches, no bad fills….. It was my best day so far in terms of dollar profit. I made over 9R on the day - unfortunately not all of my R’s were as big as I wanted them to be - but I’ll take them! Here were my two big winners: [...] [...] All I can say about today is FINALLY!!!! Oh man, I have been waiting so long……. I feel like I have been in the desert looking for water for weeks and I finally found an oasis. Remember my anology of boxing with your hands tied behind your back? Well today I finally got both arms free and nailed the son of a bitch right in the face. No computer glitches, no bad fills….. It was my best day so far in terms of dollar profit. I made over 9R on the day - unfortunately not all of my R’s were as big as I wanted them to be - but I’ll take them! Here were my two big winners: [...]

]]> By: uglychart.com » Blog Archive » September 2006 Review http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1784 uglychart.com » Blog Archive » September 2006 Review Fri, 29 Sep 2006 21:27:47 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1784 [...] What a sucky month. I agree with Richard that this month may have been worse than August. There were few opportunities. And of the few opportunities - I had a computer glitch with one of the best. I made about 7R on the month with about 70 trades for an expectancy of only 0.10. [...] [...] What a sucky month. I agree with Richard that this month may have been worse than August. There were few opportunities. And of the few opportunities - I had a computer glitch with one of the best. I made about 7R on the month with about 70 trades for an expectancy of only 0.10. [...]

]]> By: uglychart.com » Blog Archive » Putting it in perspective http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1686 uglychart.com » Blog Archive » Putting it in perspective Mon, 25 Sep 2006 04:08:48 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1686 [...] The day I was complaining and upset about how I wasn’t able to buy AMR, Farley Matchett was being executed. Here were his final words: To my family and my mother and my three precious daughters, I love you all. And to my brother and sister for standing with me throughout this situation. Stay strong and know that I’m in a better place. I ask for forgiveness. And to the victim’s family, find peace and cancellation with my death and move on. Our Lord Jesus Christ, I commend myself to you. I am ready. [...] [...] The day I was complaining and upset about how I wasn’t able to buy AMR, Farley Matchett was being executed. Here were his final words: To my family and my mother and my three precious daughters, I love you all. And to my brother and sister for standing with me throughout this situation. Stay strong and know that I’m in a better place. I ask for forgiveness. And to the victim’s family, find peace and cancellation with my death and move on. Our Lord Jesus Christ, I commend myself to you. I am ready. [...]

]]> By: uglychart.com » Blog Archive » Today’s notes http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1579 uglychart.com » Blog Archive » Today’s notes Mon, 18 Sep 2006 22:12:16 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1579 [...] I have been thinking about my rules. Rules are important to follow, but if trading were just rules anyone (or any computer) could do it. Similarly, rules are important in chess, but if you only follow rules you will not be any good (unless you can compute 200 million positions per second). Intuition is our edge. The way we can feel the market is what really makes us good at trading. Basically, this inuition is just the human brain’s amazing pattern recognition capabilities. You can’t ignore your trading intuition - you will only give away your advantage. The computers can’t feel the market like we can - yet. A rule I have is to let my winners run. It’s usually a good rule. But today it wouldn’t have worked with the trades I made. At around 1pm today I closed out everything for a profit because I didn’t like the way things felt. It worked. Richard also made a similar profitable trade based on his intuition. But this doesn’t mean that rules are unimportant. They are very, very important in trading. After thinking about this a lot lately, I believe that rules (at least for me) are especially important when dealing with risk management. I don’t ever want to break a rule that has to do with risk management (e.g. pulling a stop, overtrading…). I need these rules as a safety net and I won’t even let my intuition interfere. Other rules (e.g. letting your winners run) may not be as important if your inuition is telling you something different. What I’m trying to say is that you need rules but you can’t always let them get in the way of your intuition. You need rules to keep the emotional part of your brain from taking control. Trading with inuition is okay as long as you are not trading with emotion. Also worth noting today is the large chunk of QQQQ that passed by at 2:30: Another thing I’d like to mention is that when I post about my frustration or feelings about trading (e.g the AMR incident), I am only posting about my frustration or feelings with trading, and not with life in general. When I say (half-sarcastically) that God is against me, I only mean to say that he has the other side of my trade, and not that he has given me a bad lot in life. I am well aware of the extreme luck I have been given in my life - I am a card-carrying member of the lucky sperm club. I try to think that the troubles I have are due to my own mistakes, while the good things come from luck. [...] [...] I have been thinking about my rules. Rules are important to follow, but if trading were just rules anyone (or any computer) could do it. Similarly, rules are important in chess, but if you only follow rules you will not be any good (unless you can compute 200 million positions per second). Intuition is our edge. The way we can feel the market is what really makes us good at trading. Basically, this inuition is just the human brain’s amazing pattern recognition capabilities. You can’t ignore your trading intuition - you will only give away your advantage. The computers can’t feel the market like we can - yet. A rule I have is to let my winners run. It’s usually a good rule. But today it wouldn’t have worked with the trades I made. At around 1pm today I closed out everything for a profit because I didn’t like the way things felt. It worked. Richard also made a similar profitable trade based on his intuition. But this doesn’t mean that rules are unimportant. They are very, very important in trading. After thinking about this a lot lately, I believe that rules (at least for me) are especially important when dealing with risk management. I don’t ever want to break a rule that has to do with risk management (e.g. pulling a stop, overtrading…). I need these rules as a safety net and I won’t even let my intuition interfere. Other rules (e.g. letting your winners run) may not be as important if your inuition is telling you something different. What I’m trying to say is that you need rules but you can’t always let them get in the way of your intuition. You need rules to keep the emotional part of your brain from taking control. Trading with inuition is okay as long as you are not trading with emotion. Also worth noting today is the large chunk of QQQQ that passed by at 2:30: Another thing I’d like to mention is that when I post about my frustration or feelings about trading (e.g the AMR incident), I am only posting about my frustration or feelings with trading, and not with life in general. When I say (half-sarcastically) that God is against me, I only mean to say that he has the other side of my trade, and not that he has given me a bad lot in life. I am well aware of the extreme luck I have been given in my life - I am a card-carrying member of the lucky sperm club. I try to think that the troubles I have are due to my own mistakes, while the good things come from luck. [...]

]]> By: phil http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1528 phil Thu, 14 Sep 2006 15:56:06 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1528 Count me in. has happened to me too. many a time. Count me in. has happened to me too. many a time.

]]> By: ugly http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1512 ugly Wed, 13 Sep 2006 13:48:26 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1512 Thanks for your comments - they all were very helpful. Whenever I write a post like this, it is to write out my frustrations and try to think it over and come up with a plan. I don't write it for support. But it is suprising to me how helpful all of your comments are - just to know that others have had the same issues before and have gotten through it. Thanks guys. nonadamas: I've stopped meditating, but I should probably start again. Thanks for your comments - they all were very helpful. Whenever I write a post like this, it is to write out my frustrations and try to think it over and come up with a plan. I don’t write it for support. But it is suprising to me how helpful all of your comments are - just to know that others have had the same issues before and have gotten through it. Thanks guys.
nonadamas: I’ve stopped meditating, but I should probably start again.

]]> By: uglychart.com » Blog Archive » Ugly Picks http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1511 uglychart.com » Blog Archive » Ugly Picks Wed, 13 Sep 2006 13:41:57 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1511 [...] Dear Diary, Supposedly the problem is fixed. I hope so. Now, I have to stick to my rules. Sticking to my rules is my job. If I don’t do my job, I don’t get paid. Based on yesterday’s trading, the following stocks are worth noting: [...] [...] Dear Diary, Supposedly the problem is fixed. I hope so. Now, I have to stick to my rules. Sticking to my rules is my job. If I don’t do my job, I don’t get paid. Based on yesterday’s trading, the following stocks are worth noting: [...]

]]> By: Michelle http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1508 Michelle Wed, 13 Sep 2006 08:14:43 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1508 Ugly, Yup, technical problems that prevent taking a good trade, and therefore missing out on sizable profits, and technical problems that prevent you from booking a profitable trade (where you were able to put on the trade, and the price goes to your target, and you can't get out because of a technical glitch, and you helplessly witness your hefty paper profit become a huge real loss), at the very most, drive the trader into insanity, or at the very least, cause you to go off the rule wagon bigtime. So, I am proud that you got that covered, and am anticipating that you will violate your rules, so you can make up what you missed, make that mean ole market give you back what was rightfully yours. One of my trading buddies, says to me in such a situation, "Remember, each trade is fresh, different from the previous one, and each day is fresh, and you come into your day or trade, freshly focused on trading via your metholodgy and rules, and nothing else." And if you can't do that, then don't trade until you can. Michelle Ugly,

Yup, technical problems that prevent taking a good trade, and therefore missing out on sizable profits, and technical problems that prevent you from booking a profitable trade (where you were able to put on the trade, and the price goes to your target, and you can’t get out because of a technical glitch, and you helplessly witness your hefty paper profit become a huge real loss), at the very most, drive the trader into insanity, or at the very least, cause you to go off the rule wagon bigtime. So, I am proud that you got that covered, and am anticipating that you will violate your rules, so you can make up what you missed, make that mean ole market give you back what was rightfully yours.

One of my trading buddies, says to me in such a situation, “Remember, each trade is fresh, different from the previous one, and each day is fresh, and you come into your day or trade, freshly focused on trading via your metholodgy and rules, and nothing else.” And if you can’t do that, then don’t trade until you can.

Michelle

]]> By: Kevin http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1507 Kevin Wed, 13 Sep 2006 02:30:22 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1507 Hey Ugly, I hear you dude. I was long many contracts of gold yesterday.The central banks all decided to sell Monday. Go figure that.Completely set up. Anyway I was on my knees wondering what the f--- hit me. This is a damn brutal business when it goes against you. I feel your pain. It reminds me a lot of when I played college football. Serious highs and lows with a lot of body blows to deal with. Its the will to win that will keep guys like us going.Take care friend. Hey Ugly,
I hear you dude. I was long many contracts of gold yesterday.The central banks all decided to sell Monday. Go figure that.Completely set up. Anyway I was on my knees wondering what the f— hit me. This is a damn brutal business when it goes against you. I feel your pain. It reminds me a lot of when I played college football. Serious highs and lows with a lot of body blows to deal with. Its the will to win that will keep guys like us going.Take care friend.

]]> By: JC http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1506 JC Tue, 12 Sep 2006 22:13:10 +0000 http://www.uglychart.com/2006/09/12/amr-corp-amr-3/#comment-1506 Hey Ugly, I know what you're going through. At where I work, the execution system sometimes goes down and it always happens at the worst possible time. I've missed countless moves and I've been screwed over many times because of the system going down. Once I was stuck in a position when the system went down...I waited all day, but they couldn't get it back up and running. My position was a big winner, but the firm said I couldn't keep the profits (because the system was down and nobody would be keeping their profits!)...believe me, when they told me I couldn't keep the profits I was pissed! Anyways, hopefully they've fixed the Cybertrader problem and hope you have better luck tomorrow! Hey Ugly,

I know what you’re going through. At where I work, the execution system sometimes goes down and it always happens at the worst possible time. I’ve missed countless moves and I’ve been screwed over many times because of the system going down.

Once I was stuck in a position when the system went down…I waited all day, but they couldn’t get it back up and running. My position was a big winner, but the firm said I couldn’t keep the profits (because the system was down and nobody would be keeping their profits!)…believe me, when they told me I couldn’t keep the profits I was pissed!

Anyways, hopefully they’ve fixed the Cybertrader problem and hope you have better luck tomorrow!

]]>