May Update – Sorry For Going MIA

May Update – Sorry For Going MIA

Hey there, friends.  It seems like I have done this all too often since I took that stinker of a month in March.  I just kinda go missing.  Unfortunately, this was a very busy May for me.  It seemed that every day had things happening right away that occupied the trading times I like, which is the morning.  I did try to keep on top of things and get some market related studying done, but I can’t say I had enough focus to even attempt trading.  Keep in mind there is like 15 grand in my account…I’d like to not waste it just because I want to tell you about something. May was always going to be a busy month for me, I just didn’t expect it to be this busy.  It was my moms bday at the start of the month.  My brother decided to come up from...

Trade – April 28, 2016

Trade – April 28, 2016

WOW!  What a wild end to the day.  Some news on Apple took it down south and dragged the SPY down with it.  I was monitoring FCX, AG and BCEI before noon when I had to leave for an appointment.  When I got back, the damage was done.  Everything played out so nicely but I wasn’t around.  Hoping for some rebound and another kick at the can.  I only tried one play and it didn’t work out this morning.  Here is AG. This is a very frustrating day.  I mean, I traded this properly given my start.  But, I missed the boat…twice.  So, I saw this pre-market and absolutely loved a short.  I wanted to make sure it didn’t run a bit first thing before I entered.  I wanted anything around $10.15-$10.05.  I was willing to add anything under $10.30ish...

Trade – April 27, 2016

Trade – April 27, 2016

Small post here folks, this was a mobile trade as I wasn’t able to be front and centre in front of the charts today.  I knew that I was going to watch SEED and BCEI for some action today.  Having traded both I understood the areas I wanted to be in.  So, with that, here is BCEI. Being mobile, and after yesterday, I didn’t really show this the patience it deserved.  I had an idea of a price area and set my orders accordingly.  I got short at $4.15 after the high under $4.20 set in.  Small risk but I also wasn’t willing to let this one have legs.  Initially my profit target was $3.95 but after it bounced off $4 twice, I got nervous.  I decided one more dip and I would get out.  So, I took a $4.01 exit for a 14 cent profit.  The trade itself worked...

Trade – April 26, 2016

Trade – April 26, 2016

Today I had high hopes.  I wanted to trade yesterday, but we got destroyed at work the previous night and I was way too sleepy to make good decisions.  So, I slept.  Today I was well rested and ready to play!  I did my usual morning routine and watched things unfold after the open.  As I have been trying to do, I am waiting for the initial movements to work out so I can see a bigger picture.  Here’s what happened.  Let’s start with SEED. I will spoil the ending here and let you know that this ends up a loss for me.  The thing is, I really like my patience on this one.  I’m just a crappy dip of a penny from holding this and probably breaking even by end of day.  I knew there was a lot of emotion based on news in the last day.  So, anyone who...

Trade – April 20, 2016

Trade – April 20, 2016

My month of low trading and more studying continues.  I expect to trade most mornings but a big part of me stops everything, had me pay attention to what’s going on and then I watch how things play out throughout the day.  In the past I’d make my moves then shut everything down.  Win or lose.  Now, I want to see how it all works out so I can learn more.  I am still hoping to start ramping up my trading soon. Today, I started with FCX. I know Nate alerted this in the Investors Underground chat room.  He shorted right away and then ditched it.  He started in again over $12 but I was hesitant this early.  My experience with FCX told me to wait for the 2nd move before trying anything.  In the past I would get shaken out pretty early only to have things...

Trade – April 13, 2016

Trade – April 13, 2016

It’s been a while, my friends!  I know I really haven’t had much to report lately.  The thing is, I have been “trading” without actually executing trades.  I have been at my desk every morning, watching things unfold.  I made it a point to not actually jump in, to just watch.  Playing voyeur has helped me sharpen up a little bit.  I know I’ve been positive on my last bunch of trades, but I wanted to spend a bit more time focussed on learning and not trading.  When you trade, you can’t help but hope a trade moves in a certain direction.  Bias is natural.  Really good traders can take this emotion and throw it in the trash and look at things objectively.  Rookies don’t.  We run with those emotions.  So, spending some...

Trade – April 5, 2016

Trade – April 5, 2016

So far, my recovery from a March that saw me regress in trading has gone well.  Slow, but well.  The problem really amounts to rushing into a level that I wasn’t ready for.  I wanted to be in on 3-4 trades a day.  I just assumed the more I traded the more money I would make.  The problem was that I wasn’t working like a sniper on my entries.  I just fired away and hoped for the best.  I am working to get better at that.  Now, there is no way to always nail entries.  If someone knew that, they would never lose!  The key is to give yourself the best possible chance.  Don’t worry about missing out and just taking a price because you want to be part of the action.  Sometimes, you gotta wait till it comes around again for you. I have spent the last...