Showing posts from December, 2015

Trade Recap - December 10th. 2015

Interesting day today...big swings back and forth, but ultimately ended the day +600, so it all worked out. Some good trades and bad trades to discuss. Here's PnL:

I started the day shorting AXDX right out of the gate, which worked for about 3 minutes before backfiring. My reasoning was that these guys just did a big financing at $17/share, so at first glance this thing was trading at a premium right now in the 19-20 range.

I was short out of the gate, covered some into the first small wash, then got squeezed, which I don't usually panic over as long as its still the first half hour of the day - huge volatility is very common as emotions are running high. So I got a nice add up there around 19.60 at 9:45 and it started to come down, but quickly bottomed and put in a higher low. I was able to cover and flip long at 10:05 there right before the next rip and get some money back on the long side.         This thing traded JUST like VRA yesterday. And it wasn't until that maj…

Trade Recap - December 8th, 2015 / Trading with a Small Account

Hey I decided the other day that I was going to start over with a small account and prove to myself it can be done to grow it. I've had issues with small accounts in the past, as I've become used to the luxury of being able to add add add and keep my average tight and bail myself out if I was early on a trade. On a small account, you have to be much more precise with your entries and exits, so that is my goal over the coming weeks, to trade as if 5K was all I had, and really focus on getting some solid entries and exits.
I ended +1400 today, on a 5K account I opened 2 days ago. It is possible guys, as long as you aren't trading scared and are being disciplined entering solid setups. I hope this is motivation for anyone with a small account struggling - you can make nice gains. And you don't need a ton of money to do it either.
I took a full screenshot of my laptop today so you can see the equity - so many people in the trading world like to say they are doi…

Trade Recap - December 7th, 2015

Slow day today..first of all I slept through my alarm and didn't get up until almost 10:30, so there was that. Missed a great open fade on RLYP. But even throughout the rest of the was slow. There were no crazy turds really running, I guess $XBIT - but that thing had "stay away" written all over it for me - its a Day 1 runner, low float, crowded on the short side, they were washing this thing .50-1+ on a candle at times - overall it's just playing with fire imo. Let the overanxious shorts get in and get squeezed, and I'll be looking at it tomorrow - hopefully it pops and provides a nice play. But definitely something I was just watching today, no trades.

Ended the day about +950, didn't force anything and had good discipline. Not every day is going to be a couple thousand dollar win. I think about it like this:   1,000 bucks. Sometimes it may take you an hour to make it, and other times it may take you a week. You have to be OK with the latter sometim…

Michail Shadkin Theories of Opening Range and Intraday Relativity

So as you've heard me mention before, Michail Shadkin is one of my biggest influences in the trading community for how I think and trade, and he has formulated some outstanding guidelines to follow. Today I am going to analyze how he uses relative strength/weakness intraday to give you better conviction and know when to stay in a trade, and when to bail out.

Below is a notecard I have taped to my laptop which I am forced to stare at before pushing any buttons and placing a trade. May be a little hard to read, so I'll write them out as well.

These rules are great for all traders, but especially for newer traders who should largely be avoiding the market open volatility. Wait until 10:30ish after things have consolidated, settled down and set up so you see a picture - use Michail's rules from there and you will have a much higher probability of success in your trades.

Michail Shadkin Rules
1) Never average down on a long 2) Can add on shorts up until ~10am (not for beginners…

Trade Recap - December 4th, 2015

Hey guys..sorry for no post yesterday those of you who read daily...I had an extremely busy night. Yesterday I only made 2 trades and didn't have much to discuss anyway - nothing really set up for me as I had wanted throughout the day. That happens, and patience and discipline are two of the most important aspects of trading. If there's no trade there, don't force one.  Today was similar actually..but I did make a few trades that we can discuss. Ended the day about +1450 today, here's PnL for everything except AVP, I traded that in my E-Trade account and will be swinging some.

When I am scanning things in the morning to short, my favorite setups are plays that are beat down over the past months, and are spiking in the short term. AVP fit the mold perfectly today and was about as easy as they come to make a plan on - I'll show you why. Here's my tweet premarket about my plan on it for the morning:

The reason I wanted a 4.50 push is just based off the daily chart…

Trade Recap: December 2nd, 2015

Hey guys - another day of some pretty nice range and we got some late movers today in VNCE and STRP. Didn't trade STRP and scalped VNCE real small, but there was some nice opportunity there. Ended the day +2000 about, traded in two accounts today - I got another monitor recently so I'm able to...monitor...more things now, literally and figuratively lol. I like bad jokes. Anyway- Starting to build my trading desk and graduate from my bootleg two-laptop setup! I'll take a picture when it's complete - would like to get 2 more monitors still - and having my buddy build me a PC now.

Here's PnL:

ZFGN was a huge gapper this morning, down big on some very bad news, as the Phase 3 clinical trial for their lead drug was revealed to have a death involved, and is now at risk for the FDA to halt the trial entirely. Not good. It came down from about 16 and opened mid 6s.          I was hesitant to treat this like I do the other type of gap down plays I've been talking about …

Trade Recap - December 1st, 2015/ Trading Knowledge

Awesome start to December...+5200, one of my biggest profit days to date - feels good. I was able to top tick the HOD on $TERP, size in and have some patience on my covers. Here's PnL:

I don't have time to go over trades today, so I'm going to post some of my favorite trading knowledge with you guys.

These are my favorite tweets from the infamous Trading Fish (Modern Rock).