Update Wednesday 12/28/11

Got stopped out of QCOR yesterday and here is my updated tracking sheet.

New Report Format for stocks

So above you we see my latest reporting tool built in Excel that will help me track my Profit and loss statement much more effectively. The only column that I need to explain is the potential profit. It is based on how many shares I purchased, cost per share, and then subtracted by my Stop loss order in case things go against me. That is what we call managing risk. As I move along this new year of 2012, I’m sure that I will tweak it to show months and something else I would like to show is my actual risk per trade and actual risk based on all I own against what I have invested.

If you have any suggestions, please email me or tell me in person and I will consider showing it.

Here is a chart comparing the markets around the world.

All that comes to mind is, Ouch!

Monday’s picks

I really do not have anything for this week but I will show you my favorite that I got in on Friday. FMER is my new favorite.

This is my second favorite and I have been waiting to pounce on it since my oldest son asked me my opinion about HD. That would be Home Depot.

After looking at all the stocks in my list, if I was going to buy one Monday this would be it. Merek (MRK).

Let look at last Monday’s buy and sells

Let’s start with Under Armor (UA). Opened up $80.99 and slid downhill from that moment on. It never met the requirement of $82.64 or above, so it was a no go and no money lost. I got bumped out for a $11.94 loss.

Questcor Phram (QCOR) had large swing on Monday, but by 1pm, so had your door to entry when it pushed back through $43.33. Stoploss should be between $41.50 – $41.75 and you should have a small gain because it sits at $43.89.

Kodiak Oil (KOG) never gave you chance to enter Monday and once it didn’t all bets were off. You should have never purchased this. Even though I put my Good till Cancel order on it, I paid the price buy having my fire off on Tuesday and I got in and out same day for a $82.16 loss. What an idiot for not cancelling that order Monday night. Stick to your rules and dumb things like that will not happen. No follow though the day after pivot is a good sign that wasn’t meant to be. Doh!

This leaves us Apple (AAPL), we may have gotten burned on this one. For the first 30 minutes the stock the stock stayed above $390, then floated down and then back above by the end of the day. Ok, you should have bought here and set stoploss at $385. Tuesday things turned ugly toward the end of the day and then the rest of the week, got worse. You should have gotten bounced out Wednesday, so this was not a winner. To make matters worse, AAPL created a lower pivot high and now it is back on the watch list and not a buy at all.

Caterpillar (CAT) never even got close to $98.20, so it to was no go.

So in conclusion, 3 out of 5 were a no go and 2 actually fired a go. AAPL failed, but as of right now you should still be holding QCOR with a small gain. So as long as you were disciplined, not much harm was done and should be about even considering your still holding QCOR.

December 12th updates sales and buys

Another $51 in the Red for me yesterday because I got stopped out of AA and UA. I had a baby profit in each, but after that hard down push Monday and Commission, it put me down. I took a $11.94 on UA and a $39 loss on AA. Good news is that last Thursday when I got stopped out of CAT, I made 2 cents. Yippy!!

Yesterday I also bought QCOR. I also have an order in to purchase KOG.

JAN	FEB	MAR	APR	MAY	JUN	Sub-Total
$5.41	$698.41	$163.29	$248.52	$836.47	$0	$1455.06
JUL	AUG	SEP	OCT	NOV	DEC	Sub-Total	Total
$0	$198.50	$292.01	$0	$536.79	$50.92	$681.22	$2136.28

How to place a Trigger order in ThinkorSwim

I figured out how to place a Trigger order. What that means is once the 1st is filled, the second order is put into action. So I/You can place an order to buy a stock at a price and once that is done, they will place are stop loss order exactly as we want it. 

So here is how I did it, there might be an easier way, but this works. 

1. Create a buy order in ThinkorSwim by right clicking inside the daily chart and then select buy.

2. Edit order

3. Select the amount of shares you want, Set your price, the set order type as Stop. This means that they will buy at or above set price. Remember, they will always try to buy at the lowest price. I have seen it a few times and they do. You can leave the order time to DAY unless you want it Good til Cancelled, GTC.

4. Now the magic, first click the box where it says, Advance Order: Single Order, and change it to 1st trgs OCO

5. Now click the little blue dot to the left of your Stock order and click Create an Opposite Order.

6. Now change the selling price to below the pivot low, change the Day order to a GTC, "Good to Cancelled" order. 

7. Click Confirm and send.

That should be it.

C.Mark Dixon