Wednesday, January 11, 2017

1/11/2017-- Trade Journal

Closed first positions:

Sold 20.25-20.10
Sold into opening thrust, this was a big winner and no need over stay the welcome so I sold.  The stock would later reverse and go red after I gotten out.  But this puts 2017 on track for a good start:

This was an IPO slingshot, I misplayed it as I took a position with no volume on the move, I got chopped and since my position was big enough my stop needed to be tighter.  This trade probably works with less size.

Lesson:  Size matters,  be skeptical of morning moves with no volume.  To make matters worse it closed at the high.  Bright side.  Risk was contemplated  and exposure within tolerance.

Stopped out with loss.  After no progress this morning after big day yesterday this became a riskier trade.  A good trade tends to go.  I raised stops. 

Minimal loss.  No regrets on this one.

Caught a 3 day move, for just under a buck.  Lock it in.

New trades: MPET
Slingshot, This is the one I've been waiting for.  Triggered today and ran to highs.
position taken $11.44

Bought .7453

Although I'm up on this, it  was not a well thought out trade. It should have been taken yesterday on the breakout.  But since the sector was all picking up steam and we had URRE up 30-60% over the day, I jumped aboard.  This becomes one to look for a blow off move and sell.
Similar to DNN, I chased.  however, on the a shorter term chart (5 min). I did catch a breakout  I took it at 3.07 close to the end of the day. 10 risk on the trade.  I am not deluding myself into thinking I can use this entry as a position trade and I've been able to sell of a portion at 3.42.   which works.

Summary:  2017 has been profitable.  I need to re-focus as I've made some mistakes, even if those mistakes have been profitable.

Watches, CSRA

Risk,  Time to tighten up NTNX it has made a couple attempts at 30, it either goes or I need to cut size or the whole position.


  1. Sir, do u trade based on daily charts only??

    1. No, I typically start with weeklies to identify stocks I am interested in. Then move to dailies to narrow entries. And I like using a 6ema on a 5 min chart when taking a position to ensure I'm not chasing at the time of buy. If price is extended beyond that point, I wait until it comes in.