Been very frustrating with a string of small losses. The money is not a concern but the inability to get in sync with the market is and I need to change this
My thoughts are to make small improvements in how I approach trades and to pay more attention to trends and levels.
I dont have the skill or the bank account of the SMB professionals so its best to learn from them and copy only the trades that make sense to me
PL from the last 3 days
21/04/2015 Profit and a good day. Very few stocks and clear levels also small positions and still ended positive for the day
22/04/2015 No magic today, just could not get it together. Wanted trades to work and could only see good in them but that was a disconnect from reality
23/04/2015 Too many trades and not so well managed. I take a break mid morning and need to place take profit orders on stocks. This is best done with OCO on entry and I need to keep placing these and putting in sell orders at tested levels.
One good set of trades at end of day in BRCM
BRCM
This is how I love to trade and have not done one for a while.
Stock off earnings high from yesterday
Clear downtrend for most of day
Determined seller at 45.54 on tape. Orders refreshing to around twice bid levels and ticking down a cent or two as well. Selling pressure solid when these orders were flowing
Total of 3 trades 1, 2 & 3. 200, 100, 200 lots Sold part @ 4 and closed @5 on first trade
Entered again @ 2 and sold position at 6
Seller started to keep a cap on upside so sold another 200 @ 3 and chased down with stops 2 cents above trade price. Sold at 07:55 just on close
I like trading this way and will look for more. There is potential to hold for bigger move on these or scalp 20 cent moves with some volume. Just needs decisive actions and hard stops above action on the tape
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