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Showing posts from August, 2015

Trade Recap: August 31st, 2015

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Hey guys..hope everyone had a good weekend and a profitable Monday. I ended today +1400 comprised primarily of $W and a few other small scalps. Today my biggest pitfall was patience. All three of my red trades on $ARIA, $XOP, and $FCX I had the right idea, but I just didn't wait them out. When I have more than 2 or 3 positions on at the same time, I get a little anxious and feel a slight loss of control as I'm unable to watch them all very closely as I do 99% of my trades - so my fix here would be to keep it to no more than 2 open positions at any one time, and I think that will help my patience out - we will see. I'm not a very patient person by nature, so I may even have to knock it down to 1 position at a time. Remains to be seen - but here's P&L today - should have been nice paydays on $XOP, $FCX and $ARIA instead of small losses if I had a little patience.


Below I'm just going to list my shitty patience-less decisions so you can see the value of having a P…

Trade Recap: August 28, 2015

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+1300 today..made some good trades and gave some back during lull. The two things I need to work on most are 1) Not forcing trades out of boredom/revenge and 2) Not overtrading

The two go hand in hand as I tend to pick around more tickers during lull to scalp. Like today I traded 13 tickers lol...that's too many imo. I think it's more beneficial to focus on two or three good plays and stalk them for ideal entries all day - this is a transition I am definitely trying to make - staying focused will minimize mistakes. Also if I avoided FB, FORD and the SPY during the lull, my +$1300 day turns into a +$2000 day. Not a massive swing..but add those $500-$700 swings up over a month, three months, a year...you're looking at tens of thousands lost - because you were bored or emotional. Here's P&L today:


Not too many technical trades today - mainly I just followed the trends going on through out the day with Oil and overall market. Scalped UVXY long again like yesterday when…

Trade Recap: August 27th, 2015

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Hey guys...sorry about being MIA - I had to do some shuffling between my IB and SpeedTrader accounts and the wire details got messed up and caused a whole big mess...but it's all sorted out now.

So. This market. Is insane. Hope everyone's been staying safe with position size and staying disciplined with risk. An absolute must for this market. If you get reckless yeah you may catch one going the right way and bank - and then next time you try and go even bigger and lose twice as much. Ive been there. Its very demoralizing and can be tough to bounce back from - avoid it at all costs.

I was rusty today...ended the day +1000 but it was not a good day at all. I'll explain in a moment. Here's P&L:

I started off the morning scalping AAPL and FORD and had a decent little profit..+400 or so, then gave most of it back on LL and NQ. The LL trade really pissed me off - as I had the exact right idea but didn't give the trade enough time to work. Heres the trade, and below I…

Recent Hiatus

Hi guys,

Sorry I havent been posting - I'm in the process of switching brokers and had some wiring issues so it's taking a bit longer than expected. Can't believe I'm missing this market right now lol..maybe a blessing in disguise though as I've spoken to many who have made tons, but also many who have gotten smoked.

Stay safe, use NO size until comfortable house money cushion, and be very selective. Easy to jump into almost anything when you see $2, $3, $5, $10 of range on a stock in a matter of hours. Fight the temptation unless you see a reason where you believe you have an edge. Go to Vegas if you want to gamble.

I'll be back soon - good luck trading everyone.

Trade Recap: August 17, 2015

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Solid day today... +$2080 by lunch, and that was it for me. My post from a few days ago explained how I was up nicely in the morning that day as well, and got greedy trying to turn a good day into a home run - and it came back to bite me. So today I took my own advice, and just stopped trading after nailing it.


AVEO was a great play today..yet another biotech up over 100% premarket..absolutely insane. And the news driving this one wasn't so great and more fluff than anything, so it was going to present a nice shorting opportunity. Sadly I missed it - as I was focused on TSLA this morning. I had a few little scalps here and there as I always do, and one big play that has my attention most of the day. Thats the style I found that works for me - when you focus your attention on one or two stocks, you really increase your chance of nailing the trade. Focus on your main target stocks, and when they are not setting up for you just yet and you need a little patience, then go scan what th…

Trade Recap: August 13, 2015

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Rough afternoon today..first red day in about 2 weeks. Ended about -$1700 after being up $1200 at lunch. Some good lessons here though. I'll go over a few quickly. FIRST and foremost - find the specific type of trading setup that you are good at and comfortable with - and STICK to it. I did not do this today. I went out of my comfort zone, got greedy, and tried to profit off of everything. This was my P&L at noon right before I left for lunch +1200, up nicely after a solid morning.


Everything was great. Then I started getting over confident and trading out of my comfort zone. Bulls and bears make money - Pigs get slaughtered. Heres my P&L at days end:


My comfort zone is watching Level 2 action and scalping large cap stocks like AAPL, SUNE, FIT, GMCR etc being some of the recent ones, you get the idea. My strength is NOT trading small cap, low float momentum plays. Still being relatively new to these, I am not completely comfortable with them yet - and I often get myself in…

Trade Recap: August 12th, 2015

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Alright...today was a pretty good day for me other than the last hour of trading.  I was +1500 on the day, and decided to give $AQXP a shot late in the afternoon - it had been weak all day and I was thinking more wash into the close. Literally seconds after I got short it ripped up over a buck and I quickly covered because as you're probably aware this thing could rip 4, 5, 6 bucks before you can even blink. Better to be safe than sorry. The lesson here is it's ok to play with house money sometimes if you think you have a good idea - just be smart about it and be extremely disciplined with your stops so you don't wipe out an entire days work. It happened to not work out for me today, and I turned my +1500 day into +700 all said and done - but if I was right, it could have been a 2500+ day. I knew the risk I was taking, I had a cushion, and I made an educated guess. I was wrong and quickly covered my mistake. Lost a few hundred bucks, but stayed green on the day, and any gr…

Trade Recap: August 11th, 2015

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Annoying day today. Traded well most of the day, but just had one bad trade on DXCM that wiped away most of my profits. This type of situation is something you need to be extremely aware of as an active day trader. It can happen on a much larger scale than this too - where one stubborn bad trade can wipe out weeks or even months of hard earned profits. This recently happened to a very good trader in the Investors Underground chatroom, AT09. He blogged about his thoughts on the matter here: http://www.twitlonger.com/show/n_1sn85j6   and it's a good read to put things into perspective regarding keeping a level head on your shoulders when you start to find some success.


Anyway, here's my P&L today - ended up about +400 on the day. Easily should have been 1000+, but that DXCM trade got me pretty good. Also as you can see I'm still short 500 shares overnight - I think the stock is overbought and due for a correction. They just had a news release that they're partnering …

Trade Recap: August 10th, 2015

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Pretty good day today. I was done trading by noon..and sometimes thats OK. If you nail it in the morning and have issues overtrading sometimes like I do - then just shut it down and walk away. Less is definitely more in trading, and this is a difficult concept to understand sometimes until you actually overtrade and watch profits get trimmed away (trading during lull, throwing darts from boredom etc.)

AQXP the last two days was nothing short of spectacular. Absolute craziest 1 day move I've ever seen from $10 to $55. I couldn't find any shares to short at IB, and I am so glad. While that run down was just as spectacular, I would have tried shorting the frontside of that move and got murdered. Instead I caught it long a few times for some nice scalps. When these low floaters get going and you aren't familiar with the concept of float rotation and the potential running power these things can have - you need to just AVOID them completely. It sucks, you want to be involved wit…