Trading Group and Thoughts!

I haven't traded the last couple of sessions because I have been trying to come to a conclusion on why I haven't been able to make any money in this wild and crazy market. I don't know the reasoning why I bought this book, but I did. The book that I bought was, "Trading in the Zone" it is an excellent book about the psychology of trading and about knowing your trading strategy. I am about half way done with the book and I feel like every chapter is written just for me. It is an amazing read that I feel every trader should read if they are having trouble being consistent in there trading.
I want to apologize to all of those who have been reading this blog and still see my account at the exact same size and no action whatsoever. I feel that I am lost and I need to get this market under control and build some confident. Sometimes a trader just needs to get away from the market for a bit to clear his mind and that is what I have been doing for the last couple of day. I am going to officially start trading on Monday because I am going to be traveling this week and into the weekend so I don't know how much time I would have to trade, so I have decided I won't trade. I will post every night and let me know if you have any questions. I will post from my hotel every night and want to start to get some feedback from you guys about how is your trading, what are your strategies, etc...
I want to get your thought on this. I want to get a group of traders and start to IM during the trading day with different thoughts and trading ideas, I honestly believe that this could be the most beneficial things we could all do as trader. I already have your IM Zack, lets get together with as many people as possible. If you want to get in on this IM trading group email me your IM info to traderjunkie@gmail.com. I am planning on starting this group as of Monday morning. If you think this is a stupid or good idea let me know. I know that there are forums and chats that you can go to to talk to investors, but I want to get a real time group of traders that we can all discuss what we are trading, why we are trading and different techniques we all use. I am extremely excited about this idea and hope that you will all give it a shot as I honestly believe that this will be extremely beneficial to all of those who join. I AM IN!

Its been a while!

It's been a while since I last posted on the website. I have been extremely busy, my sister was married over the weekend and I am done with school for a little while. I am probably not going to be able to trade tomorrow because I have to work the morning shift out at my work, unless I can sneak on the Internet and trade without nobody knowing. I ma going to detail the blog a little better this week and have been thinking about re-doing the website and buying a domain name. Will have to wait and see, I think it would be better. I can customize it the way I want and be able to keep a more accurate blog. I appreciate the comments that have been posted, they help, especially when I have been in a slump. Good Luck trading tomorrow and I will post tomorrow with some stocks I have been researching and following.

Trading in the ZONE!

I started reading Trading in the aone, last night and all I can say is that this book was written specifically for me. I am in a slump and need to get out. This book is all about the psychology that lies between a traders ears. I don't think that I am going to trade at all until I get this book read because it seems so true that the author is saying. My portfolio is tiny and my confidence is shot, but I am learning and haven't quit. If I trade at all it is because it is a perfect setup and I have finals the next two days so I don't have a lot of time to research and study the market the next two days.

I will post later today with some comments and ideas, until then go check out TIM's new site, awesome. Later

TMY

TMY bought 2000 shares at .61/cent. It is a very Volatile play, as I think that it will follow yesterdays pattern with a little less volume then yesterday. I Will watch it closely to cut my losses if it falls quick, I may just put in a stop loss, that way I am for sure getting out of my position.

UPDATE: TMY, I finally learned to cut my losses, I ended up selling 1100 shares at .56/cents and the remaining 900 at .55/cents nice $110 loss, oh well at least I am learning to cut my losses as you can see now that the stock is down another .05/cents. All in all it wasn't a good trade at all, but I am learning from these stupid mistakes that seem to drive me crazy, I am not trading right now I am guessing. I feel like I am gambling in the positions I am buying and selling into. I didn't use any technical analysis or fundamentals to trade this stock, I used EMOTION. I thought it would follow the same pattern as it did yesterday, NOPE. I am eating a lot of humble pie and hope that I can figure this game out. One thing I have found out since I began trading is that emotionally, it brings you the highest of highs and lowest of lows. Wow, the market is a psychological brain jam. Will update later..

Playable stocks!

I am working the late shift at work and have found a couple of potential plays,

SYNM-very bullish chart moving, good looking chart, I had resistance at $1.20, but broke through that on Monday. It was up yesterday, but it closed on the decline. SYNM is in the natural gas industry (Boone Pickens said this is the next big play with gas going so high). Watch this closely, if it shows any sign of life in the morning market, you can definitely count me in on this bad boy.

EXTR- Put this on your short radar. This is a struggling technology company that is EXTRemely bearish. It is moving below its Exponential Moving Averages, and RSI is at 46%-which is a bearish trend. Watch this one as it may tank slowly, but support is at $2.80, if it breaks support you might as well kiss the stock good-bye.

Other potential plays NURO, GRIN, BSRC.

Good luck, hope some of these will help, I hope they can do me some good. Always remember to do your own due diligence before you trade. Later

Has the TraderJunkie changed?

WOW, it is not very often I go an entire day watching the market and not even make a single trade. I sat on my hands and watched the markets as nothing really special happened. My only play tha I tried to play was GRIN, but you can read my previous post to see what happened with that.
I watched TMY spike, fall and then spike again. I thought about buying a 1000 shares of TMY when it was up only .10/cents, but I didn't like my risk/reward on this one. I should have entered my position, but I didn't and I ended up watching this thing go up .25/ cents, could have made $100-150 on this, but didn't, Oh well- at least I didn't lose any money.

Everyone was hyping up PDO and TIM ans themarketkid, were both shorting the hype. Good call on the shorts as it dropped pretty substantial throughout the day.

I am going to try and trade tomorrow if I can find time, I have to study for finals and take a couple of finals. One thing for certain, I will be watching the market, so if something does interest me I won't miss it. Thanks for checking out the blog and Zach email me your IM info if you happen to read this. traderjunkie@gmail.com

Trading Update!

I entered my position to short GRIN this morning due to the morning spike of almost .40/cents. SOGO rejected me in my position and said that it isn't in there short list anymore. Grin then dropped all the way down to .97/cents. I could be up over $200 if SOGO hadn't removed GRIN from there list, it stings a little. Anyways, I am looking for some potential plays this morning, I just about shorted MXC this morning when it was up .60/cents, but didn't. i didn't want to get caught in this one just in case if it ran higher. MXC is now negative on the day. Could have made some more money, but didn't. Will update the blog throughout the day if I make any trades.