Carpe Profit! Sometimes Life Happens while trading

Depending on your style of trading it can be very intensive to watching the level 2 and price action to be a sniper on the best execution. Part of what I learned from last week was don’t do too much at once. It is ok not to force a trade. The timing is important to get a good execution.

On Tuesday I saw the alert set on my phone for the Stock Tracker app that Insy was trading down near the 52 week low that it had hit that day. As it closed up for the day I believe the strength would cause it to gap up and I bought just before close Tuesday to sell on the gap up on Wednesday. I have learned as it gaps up. My new phase #CarpeProfit and take that profit before the sell off happens. It is always better to have a small profit instead of a loss.

That is exactly what happened on my KORS trade as well. I bought in on Monday and was patient in letting it rise and once it had the first pullback in the morning I went ahead and locked my profit. I closed it at 52.75 when it continued up to 53.50 during the day. Some days I will be patient enough to sit there and watch the action, however I’m trying to find more balance and trade mostly before 12 and after 2 pm with time for lunch and the gym in the middle of the day.

In the strength of the day on Monday I somehow executed a successful Short. In hindsight with such strength it was a gutsy move to short with such upward momentum in the market. MU was looking overextended ( High RSI, Multiple upward 5 min candles and volume slowing) so I siezed the tension and shorted it and once the stock slowed in its drop and went sideways. I closed immediately as I was hesitant it would go against me and I had to leave to go for training.

Once I got done trained I check on HRB that has been repeatedly hitting new 52 week lows. I saw it had broken a round resistance of 25 and it seemed to be struggling in upward momentum so I took the opportunity again to lock the profit. I really prefer trading in front of my computer. When I’m on my phone I use the Stock Tracker app for alerts to let me know the stock has broken resistance or support for entry or exit.

When I arrived home for power hour I saw GPRO had closed up high and the news of the AAPL team member had moved over so I piggy backed on the news and a gap up for Thursday and bought before close. I did the same for FIT as it was coming up off the low of the year.

Thursday morning I was watching GPRO with first its selloff and then spike. I was happy with my growing profit and then Ding Dong, someone at the door. I saw the price was slowing some and I didn’t know if it was the tree trimmers or a delivery so I went ahead and locked my profit. Murphy’s Law it continued to go up another .30 so I could have put in a stop. So my lesson on that one would be put in a stop and not a limit sell to let it grow. Can’t be upset with the profit, but figure out how to protect it better.

FIT was a little more delayed with it’s spike and did not go as high as I was hoping on Thursday. In hindsight it would have been better to hold until today as it continued to grow in value before the weekend.

AEM I was much better waiting for the sniper entry on a sell off and watching the price action and level two until it hit 39.60 and lost a couple cents in entering the order. A great profit.

Thursday just before close I received Tim’s Alert that he bought DRWI and I knew that the stock would run when it goes up from an earlier trade, so I went long. I made a fat finger error with a 3:59 trade and bought just 200 shares instead of 2000. I was also long STX and RDC from their big sell offs on Thursday.

This morning I was busy watching the price action on STX and RDC right at open and I happened to glance at my portfolio and I saw DRWI. I forgot I was in the position and when I looked at the price it had spiked up over 8. I immediately sold and locked the profit. Looking at the chart it was the right thing as it sold off the rest of the day.

RDC had a bigger sell off than I expected at open and rebounded just up to 15.75 area and my average was up at 16.16. I instead took the loss and put my money into an add on STX.

I’m in STX as a swing trade that I will give some time as an S&P 500 company that is oversold due to their estimated earnings they will announce. They have had multiple years of roughly 2% dividend issued back to the shareholders and they should be announcing that shortly. I will put in a limit order for a nice profit so the stock will work for me while I’m traveling and more analysts review the stock saying it is oversold and a bargain. These stocks work well while traveling for me or someone that might not be able to babysit price action.

I’m also long YGE 4.90 and SKLN 0.217 for more growth maybe a week or a month. They are smaller positions and giving them time to grow longer term. I bought YGE after a trader who is a prominent shorter went against his protocol and went long. As for SKLN this one had parabolic moves today and it seems it is one of two things. A pump and dump in the beginning phases or there is news that is due to come out the increase in volume has brought attention to the stock.

I will be spending the week with my parents in the States. I am not sure I will be blogging next week. It depends if I have any trades to review. I know that I will be talking with my brother about learning the ins and outs of trading and meeting with my brokers office.

After starting the week with a big major loss. I feel better this week, however I was rushing my entries and emotionally jumping in too quickly. For the big sell off stocks. New rule wait until day two first initial dip to go long, if not the third day.

It is very nice to hear back from everyone about how my blog has helped or what you have questions about. Trading is a passion for me and I love sharing and hope to help inspire and educate that you can do it too. You can really do anything with the right mindset and actions to make it happen.

Have an amazing weekend.  Study hard and spend time with the people you love. Those moments are worth more than any $$. Our daughter just started saying Hello, bye, Bubble and Cookie this week. Those moments are priceless.

This blog is for information purposes I am not a registered securities broker-dealer or an investment advisor. The information here is not intended as securities brokerage, investment or as an offer or solicitation of an offer to sell or buy, or as an endorsement, recommendation or sponsorship of any company, security or fund.

 

6 Replies to “Carpe Profit! Sometimes Life Happens while trading”

Yinhosan

April 16, 2016 at 9:38 am

Hello, thank you for this post !

I have a question about swing trading, what would be the indicators in your opinion to look at in order to swing trade?

Thank you in advance,

Reply

    jhgallina

    April 17, 2016 at 12:09 am

    I tend to look more at a stock that has value to it that has had an overreaction and overselling and will usually have a rebound within a couple days to two weeks. It needs to be a stock that has a great deal of volume and news behind it as liquidity is important for getting in and out.

    Reply

      Yinhosan

      April 17, 2016 at 9:23 am

      Thank you for your reply ! Keep your great work !

Nouel

April 17, 2016 at 2:38 am

Hi Jane, love your blog posts. I am still learning how to trade and all Tim’s rules. But i really like your passion and dedication for trading. I will be reading all your post and learning from your success. Good luck 🙂

Reply

Micha

April 18, 2016 at 1:16 am

Thanks for sharing your trading journey with us. It’s very inspirational. Do you mind explaining your 3 greens (1min, 2min and 5min)? I’ve seen you mention it on twitter and then you mentioned in a recent post. I looked at some of your other posts but didn’t see any explanation on what you are looking for in the 3 greens. If you explained it before I apologize if I missed the post.

Reply

Nagi

August 20, 2016 at 6:48 pm

What is the stock tracker app you use? Thanks!

Reply

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