Pretty amazing week with continued large moves in retail and as of last Friday-tech!…would not mind this to continue! I ended the week with my best batting average yet of 81%…no surprise that nearly all of my plays were shorts. When I stand back and look at it, it truly makes me wonder why I even go long. I have been slacking on weekly recaps, I am now committing to be more diligent and utilize the slower summer mid mornings to get on a regular blogging routine.
Heavy hitters this week for me were the following stocks, 95% of all of my plays were in this small handful of stocks. These are “go-to” stocks for me when the set ups are there:
NKE, FL, DKS, NVDA, YHOO, AAPL,AMZN
Finding stocks that you are familiar that move in conjunction with the market I think is integral for success. Banks are another sector that could be added into the mix as they typically follow the market, although with the sector rotation that seemed to happen this week the flow didn’t seem to be there.
Here is a snapshot of a trade I took late today (2:30pm EST) on NVDA. This is something that has been really working for me on the short side, I like building into a short into prior resistance and then adding upon confirmation. I was hoping for a bit more of a bleed but making $1.30/share on a .30 risk is not too bad of a scalp.
Time for me to go surf. Have a great weekend, everyone!
The more time I spend studying and trading the markets, the more I realize how the lessons in trading are so correlative to other routes one can take in their professional lives. As I think back over my previous profession, I realize how profound some lessons were early in my career and how they provided the path to becoming what I excelled for nearly 20 years. Continue reading Advice from the Poker brat
One of my favorite quotes from quite possibly the most thought provoking books I have read in a while. Provocative for traders as well as life in general, if you haven’t read “The Slight Edge” by Jeff Olson, do yourself a favor and pick it up. Continue reading “Sometimes you need to slow down to go fast.”
One lesson that has really resonated with me lately is the power of starting small. One of the bad habits I am working on breaking is starting too large of size prior to actual confirmation. Stocks with tremendous range do not actually require large size to produce large gains and I find I keep myself in trades when the size is smaller. Funny how that works?! Staying disciplined with this new strategy is proving itself within my winners and I am looking forward to seeing what this does to my win/loss ratio and subsequent size of winners relative to my losers.
Continue reading Simple disciplines can move mountains
Well, disappointing that it has been nearly a month since my last post! New goal to check in at least twice a week with my thoughts (putting it on my calendar so it happens!)
Continue reading The power of consistency
One important piece of improving my trading has been recognizing where and when my winners occur. I have had significant success in tickers that have consolidated after a morning run and are just slowly edging higher above VWAP in the afternoon session.
Continue reading Afternoon Runners
What an unreal last week and first month as a full time trader:
Continue reading March Recap and looking ahead
One of the many great things about earnings season are the possibility of shockers in a sector that causes a bit of a ripple effect. Last night LULU came out and greatly disappointed, resulting in a crushing drop overnight:
Continue reading Sympathy plays