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Monday, December 29, 2014

Trading Recap 12/29/14

There was a decent amount of opportunity for a holiday week but I didn't take advantage of it and was red on the day. Looked for mostly shorts since I think they are much better for lower volume days, although that is hard with TD's borrows list.

CAR: I had been eyeing this for a short towards the later part of the day and once it broke 66.83 I was thinking it changed trend so I got short with risk over/under 66.80s but covered flattish.


ISIS: I was trading this like a channel play. I shorted at resistance at 63 and was going to cover at the bottom of the channel. It made a slightly higher low and I stupidly let it come up and didn't cover at least partial to lock in gains. I came out slightly ahead on the trade but it could have been much more.


LIVE: First I tried to buy a higher high on the 1 min chart but that didn't happen and it came back down to the lows before coming back so I sold for a small loss. I then retried buying at the support and trying to sell at resistance but after I bought at $4 it came back down below the prior lows so I got stopped out, but it then proceeded to go right back up, but not by much.


MTW: In the morning it looked like an ABCD pattern so I took it on nHOD but it promptly came right back down. I killed it before it hit my stop, which was good because it helps to ingrain the mentality of right or right out. I bought it for continuation and a pop and it came right back down.



TASR: I tried shorting the upper part of the channel which proved to be resistance before and my plan was to stop out near the bottom of the channel. My risk was to r/g. This time it decided to go up on me and stop me out. One thing to note was that I tried shorting 27 over/under on the way down and I didn't get filled only to see it tank.


XONE: My plan on this was to buy higher lows and wait for the r/g. Well, I bought a partial on the first higher low on the 1m in chart but then it stopped me out by going below that low and making a nLOD before fading the rest of the day.

Things to work on:

1. Don't try to pinch pennies on entries.
2. Of course, more patience.
3. Don't think "I have to be in every trade or I am losing potential money".
4. Balance not being a scalper and not being greedy.

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