16/06/2015

Good day, only two trades on a flat market day and refused to get sucking into trading and losing out of impatience and being too clever



A massive $20 and feel rather good about this as it was earned and better yet it was retained

IWM
The one that got away. I like trading this index, it seems to move a bit and falls to a mid level a lot of the time with clear action on the tape and then a fall to support. I am getting more patient with entries but as you can see not so patient with holding. Too many small losses over time and I am jumpy.
This is one area that will make a massive difference to my trading and so working on scaling out with set OSO orders so I can close my eyes and let it happen.
Goal is to take a small profit at the first move up and then hold.
I will get stopped out a bit but that happens anyway so need to endure this and keep at it

I took around 25cents and left the next dollar

MU

Good trade, it fell, corrected and stalled after a small spike up.
Entry was limit and 1 cent less than market so an easy quick fill
Out on bounce at bottom

I was tempted to sell short again but decided not to as it was a stupid idea. The stock was tracking along sideways and no movement so as best it would be a painful boring trade without clear direction

11/06/21015

Felt good today after a break and a fresh set of eyes to look through. I made two basic mistakes today that need fixing as they are bad habits but also a couple of good trades.

PL for day was a negative but very small losses

Bad today
Weak stock selection
Fighting the trend with a short in IWM on a trending day

Good today
Traded SPY long with the trend and off a higher support level rather that waiting for a big washout
Stops saved bigger drawdowns
Cut a trade that was not working
Small losses
Use of limit sell to take profit when away from the screens (asleep)

PL

IWM

Dont fight the trend

Short on stall but not a level for entry

I cut this trade when it moved off the prior high so happy with the exit

All indexes were strong 

Short was not the right trade today

LULU
Bad trade
In to soon and wrong level
Could have worked with some more patience with entries around 1 or 2. The stock has settled a bit the trade would have been a lot cleaner. I got annoyed with this one and made a second trade to soon after the first and was stopped out a second time
Small losses just annoying and not very good trading

SPY

Good trade

Entry after about 20 minutes of sideways action and stop was about 3 cents from getting smacked at one point

Went to sleep and put in a limit sell just below day high and this got taken

Nice clean simple trade

WETF
Long and made a mistake on the drive for this one. It was mixed in with another stock in a news item and so I got it wrong.
This traded in a sideways range all day, I had three opportunities to get out with small profit and it was stalling at 23 with a big seller.
Smart trade would have been to sell just under 23 and get back in if it broke and showed support.