Whole number power

The tech sector will be my full focus this week, as my favorite sector and some of my “go to” stocks have been beaten up and could see some significant bounces.

NVDA I was watching late day for just such a trade.  Here is a snapshot of the daily:

Today it had a gap down and just fell all day.  I missed the opening short as I was managing profit taking in other positions so I waited patiently for a bounce in the afternoon session.  As you can see on the daily, price support is seen at 170, so the odds of a potential bounce as it drifted towards it was on my radar.

Opportunity presented itself at 2:45pm.  BOOM!  Right at reversal time, can’t beat that!  As shown above, you can see the potential of a short term reversal is seen above with a surge in volume and a nice rip that took out several red bars.  I entered at that  point with a target of 171.10-171.20.

Given the range of selling today, it would be amazing to see a gap down for a reveral bounce…too much to ask??

The power of routine and Monday’s $NLNK trade

Since moving to Hawaii and more specifically since February of this year, my life has changed drastically.  While trading has been a part of my life for 8 years, I began a full time focus the first of March.  The first thing I will tell you is that trading is Hawaii is not for the weak (no joke when I tell you my alarm is set for 1:34 am)!  The second thing I will tell you is that if you devise a successful plan and FOLLOW it, Hawaii trading can provide you days that feel like they are 36 hours long.

I have been a voracious reader my entire life, so when my world opened a seemingly endless supply of hours available to me, I dove into books, podcasts, blogs like you wouldn’t believe.  A few have stuck with me 6 months later and, if you see me jogging along the Ala Wai or Kalakaua Ave, I am likely zoned out listening to some of the podcasts that have brought me so much to me.  Life is truly a journey and such a gift that I personally feel should be one of constant learning for betterment…whether you strive to be a better parent, spouse, business person…whatever gets you out of bed each morning.

Without a doubt, “Tools of Titans” from Tim Ferriss and his subsequent podcasts have provided a surreal amount to my life.  Two days ago, I went for a hike with a friend and we stopped by my place so I could change prior to getting some well deserved dinner.  I promptly put this book into his lap and opened it up to page 412 and said “READ”.  The chapter is one I could probably recite to you from memory, it is his interview with Jocko Willink.  I think he resonates with me so much because he reminds me of some of the most influential coaches I have had in my athletic journey growing up.  For those who grew up playing sports, I know you know what I mean about that one coach that pushed your buttons unlike any other.  Jocko reminds me of that coach in my life!  My friend even commented one of my favorite lines from the interview…”If you want to be tougher, be tougher”.  Pretty simple statement but so incredibly powerful.  Want to stop eating poorly? Stop eating crap. Want to stop being in bad relationships?  Stop being with people who treat you poorly.  Want to stop making bad trades?  Follow a successful plan and fire those tickers who fail your plan.  While it sounds simplistic, believe me…it is amazing when you simplify and make things follow your plans.  When they don’t you need to adjust accordingly.  No excuses.  As Jocko says, “Freedom through discipline”.

This singular line resonates with me Every. Single. Day.  It is why my alarm wakes me up at 1:30 am HI time and why 12 minutes later my feet are pounding the pavement so I can ensure my brain is awake and ready for strong decision making 30 minutes later.

Today’s trading was pretty light for me.  Last week was epic for me, when that happens I like to take the next week light to ensure my ego doesn’t get cray-cray and see me taking trades I normally would not.  Also, it is Monday and I generally like to let the market shake its weekend legs out before I decide to join stride.  NLNK was a crazy ripper from last week that was on day 3 from its initial run and one that I traded last week, so it was on high watch for me.  Predictably, it opened and cracked for the most of the morning, however it started to put in a base in the doldrums that I thought could potentially crank higher.  Shorts have been all over this ticker, so if they were wrong again it could ignite another short squeeze.  I patiently waited to see a base confirmation and then a vwap test.  Overall, I am pretty happy with this trade and how I managed it.  I thought it might make a run to r/g, which didn’t happen but continuing to move my stop up after each pivot enabled me to complete the trade with solid profit.

Bring on Tuesday!

Fall Trading Plan

I cannot believe how excited I am for September to be here.  Summer has been amazing for me in trading both the market, cryptocurrency  and learning more about trading and my opportunities as a trader; I only hope to build upon this with the returning volume that fall brings to the market.  Continue reading “Fall Trading Plan”