March 17 - April 1 2014

Right Click Chart, Open in New TAB

Some Charts are duplicates illustrating Pre-Market Data of the play. 

-.40R Down - Slow Day

One of those days when the market fakes you out and no follow through, key is keep losers small and your good to go.  One of the hardest things to master is when not to trade. In my office I have REMINDERS on my desk telling me if your bored go on YouTube, go on Twitter, go stare at the wall but just don't trade. It's tough, you know you wake up thinking you want to make a trade and the market doesn't give you the right serious and the in between your legs gets itchy and then your hand gets itchy and then your index finger gets itchy and when everything itches your account balance also gets itchy and starts scratching and bleeding to death. (Sorry I took it over board) key point = just don't trade when your bored, today wasn't that of a boring day but small losers is key. 

Below is the place, I shorted 1000 shares  just below 12 PM and the price I got was 17.12 and then the stock just faked and went back up, I killed my position before hand and didn't take a full loser! I released 300 shares are pins 17.16 then 17.17 and last everything at 17.18. 

Internet Connection Failure, Range Plays and No Follow Throughs - 2.61R

Yesterday was an excellent display of maximizing gains to a certain extent. For me to get burned today on 3 separate plays is okay because I know I can pull out possible 1.5-2R+ from my gainers and to have 3 losers totaling about -2.6R is okay with me. At least it wasn't 1 trade, that's a total of less than -1R loser per trade. It's part of the game, key is winners need to be bigger than ANY of your losers! 

3 Trades made today, all three negative. 2 I didn't mind because I kept them small losers. There was one however which turned out to be a bigger loser than I expected because my internet failed. (Note to make sure no more trading with WIFI connection, I need a direct wire now)

Here they are and followed by the trades will be the P/L at the bottom. -2.61R

HOLY SHIT see while I was uploading my blog this happened! THIS IS WHAT HAPPENED WHILE I was trading and its HORRIBLE!

See image below!

LOOK AT THAT! I just print screened it right now

 -2.61R Loser

Cut Losers, Maximize Winners

So in my previous post Click Here to read it I talked about how in trading you don't have to worry about losers, you can choose how much you want to lose so it is totally in your control. The main goal is to manage your winning trades to ensure you PULL out nasty amounts of GAINS! Conclusion of today, look for RISK/REWARD and get an understanding of how much room you need to make money in your trades. Exmaple: Look for tight stops! See if the stock will allow you maximize gains!

Today is a great example:

Total R: +2.31R

Winners:

Trade 1: $AMAT + .59R Winner

Right click Image, Open in New Tab

Trade 2: $NTAP +1.92R Winner

Right Click Image, Open in New Tab

Losers:

$DISH -.17R Loser

Right Click Image, Open in New Tab

I had another very small loser, it was only -.04R

Key to Success: Cut Losers, Maximize winners and honestly review each stock and ask yourself "it this stock worth my money?" "will it pay me out good or am I just forcing it?" If you feel like you are forcing then just don't take it, its not worth your money or your time.

Below is Profit / Loss for Today. +2.31R