by Jane | May 18, 2016 | Uncategorized
Today was a great day with over $1700 in profits which made up for my red day yesterday when I was down $700. My biggest lesson I have learned in the past week is to use hard stops to try to protect myself.
Monday morning was going great I was up $980 in profits in the first 45 min. I said I was going to walk away and……
I did not of course. I saw more opportunities because I wanted to hit my $1000 goal. I scalped a couple profits of JWN and BITA and MGT. Then I decided I wanted to get back into MGT because it kept spiking.
Here is where I went wrong. I was being emotional with my trades. I wanted it to go higher instead of letting the chart let me know when to enter. I am not a great break out trader and I was trying to do something that doesn’t do well for me. For some reason I kept trying and kept trying.
To make it worse I was revenge trading and positioning fairly large because it was a penny stock. I was long 6000 shares and my worst loss of the day was just before close when the stock went down to 2.89 and hit my stop. If I had let it ride overnight I would have been up roughly $12,000 today. It could have also taken an after hour tank.
I think I self sabotaged myself in my brain thinking its ok because I made $980 already I can be more aggressive when in fact. I need to do just the opposite to protect those profits.
Trading is definitely all about yourself and the market. Don’t get distracted with necessarily what the masses are doing if that doesn’t match your strategy. In life do you feel best when you are being yourself or when you are trying to impress people and doing things you think they will like?
The same is true with trading. There are some traders that are absolutely amazing at breakouts and penny stocks. I know for me that is not my expertise. I am doing well with my strategy that I have developed. Yes there is some quick money in it, but I don’t execute those trades well.
I find when I deviate from what works for me I end up losing. Why try to do what others are doing? Why not do what works for me. If it works why break it?
Trading for me is enjoyable when I am confident in my entries and feel my risk is truly minimized. Like today with FRAN. It was oversold down 30% on news of the CEO voluntarily leaving and estimated poor earnings. The market reacted and it dropped the stock. These are the ones I love. I went long at 10.474 with the analysis looking at the chart that it is setting up for a double bottom a great bearish indicator on the macro scale looking back at the year. So I thought I will put in my limit order to sell at 10.68 which looked like a resistance point for the day and if it spiked it should execute there. I did 10.68 because there was a big order to sell at .69 and I wanted my order to execute.
Trusting my trade and my decision, I left my desk and went for a run. I took a small walk break as my cardio has been suffering since I sit trading a lot more. During that break, I checked the price for fun. It was a .63 and I was going to change my order to lock the gain and in that time the stock broke through .70 to .73. I knew I had just made $1000 while out for a run.
Depending on your trading strategy and your risk tolerance it is possible to trade being away from your desk.
This week has been a great week. I spoke with two amazing female traders from Australia and I was interviewed by Jacob Whitish, a writer for TheStreet.com. I will definitely post the link to the interview once Jacob has it ready. You will be able to access it for free on the Digital Stock Summit page as well. The other Summit videos have a fee, but mine will be free for everyone.
As always I hope the blog is helping you in your trading journey. No matter what happens don’t beat yourself up. You are human and imperfect. Learn from your mistakes.
If you have any questions or comments leave them here or reach out to me on Twitter, Profitly, Instagram, Facebook or LinkedIn.
Carpe Profits and stay green.
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.
by Jane | May 15, 2016 | Uncategorized
I remember when I was thinking about what am I going to do in order to be at home to be present should my daughter need me. And my real estate career was smashed with the silly language laws in Quebec. It’s not enough that I pass the equivalent of law boards for real estate in Quebec I had to pass a language proficiency test for French. Well that I bombed and I was shattered.
I thought I need to figure something out to be available for my daughter and still make money. I started studying and now after studying and learning every day since Feb of 2015 I’m making my average goal of $1,000 a day.
Of course I still have bad days as you can see from my calendar below.
I honestly don’t let those down days get to me. Each day, each trade is a fresh beginning and a new opportunity. When I have a bad trade I don’t beat myself up because it won’t get me anywhere. I try to analyze why it went wrong.
For my two down days. I had bad entries. I know better. I was anticipating the move on the stocks and not letting the trade set up and enter at the right time. As hard as it can be sometimes to take a loss it is better to cut the losses early and use the capital to make money with a better trade.
I also implemented hard stop limit orders to protect my profits as they go up to ensure I don’t give back. On Friday I had an amazing day with JWN. It was on fire. However I still had one trade that I was emotional and entered at the top of a spike and in turn lost .34 a share. It tanked so quickly I didn’t get a chance to put in my stop.
In working on my project to try to help inspire female traders I spent a good hour speak with Mandi Pour Rafsendjani a specialist on trading and psychology. She gave me great perspective about trading. Trading is a reflection of who we are as a person and how we process our thoughts. If you are beating yourself up about what went wrong then you will probably find losses. If you have thoughts that you can improve and look for the positive in a loss like a lesson to be learned it will help you become a better trader.
It is true that our trades are a reflection of who we are as a person and that is why different strategies work for different people. We all have different risk tolerances and enjoy different rates of return. Some people are amazing at swing trades while others are great at breakouts and some are top notch at shorting.
From my perspective it is important to figure out what works for you. What limitations do you have with your broker. Work with them and figure out how to be successful. When you have a negative trade was it trying a new strategy? Bad timing? Where is the lesson in it?
We are all human and not computers so there will always be an emotional side to your trades. For me I know this week I had bad entries. Friday was much better and when I did have a loser my stops protected me.
Each day I trade I learn more about myself. Being transparent and sharing my experience as well helps me to see the sometimes brutal truths about my actions in trading. When you trade it is you and the market. Do you want the market to run your thoughts and be tense or enter trades that have the probability to go in your favor? Studying the market and yourself will teach you what works. Stick with that and be profitable, successful and happy.
As always I hope my posts are helping you. If you have any questions feel free to share them here as comments or on Twitter, Facebook, Instagram or LinkedIn. I love hearing how it has helped you to become a better stronger trader.
With hard work we can all succeed. Enjoy your time this weekend with your friends and family as that time is 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.
by Jane | May 11, 2016 | Blog Post
I have never been a 9-5 office job individual. I started my career after college working in a bank and then moved onto working as a Trading Broker’s registered assistant. The registered meant that I had attained my series 7 license. A series 7 license allows you the right to enter trades from a customer for the brokerage house. That was in 2001 and I was working in the Smith Barney office where the Worldcom employee options office was located. The crash of Worldcom’s price and all the employees on margin all happened while I was working there. I learned a lot about investing and was on par to take over my broker’s book of clients he had built up over 25 years. The crash happened and the market was declining, so I decided working as a broker in charge of other’s money 14 hours a day was not the future for me.
So I decided to follow another passion of food. I left the stock market world and went to Europe to culinary school in Italy and France. Then I moved back to the States and worked in the culinary world as a pastry chef of my wholesale pastry business. In order to pay for health insurance as a small business owner I began working for one of the major airlines as a part-time customer service agent.
In my time working for airlines, I met my husband a commercial airline pilot. He was based in the US but living in Montreal. That led me to my move up to Montreal where we settled down and had our first child. I had kept my job with the airlines in order to have a job when I immigrated and it worked. I was laid off just prior to giving birth and I had my one year of Maternity leave to figure out what to do with my future.
The August of 2013 I made a $25,000 investment in AAMRQ which over the course of 9 months turned into a value of $250,000. That was just prior to me being laid off and giving birth. Once I was 6 months into my maternity leave, I realized I have 6 more months and then I have to go back to work but I don’t really want to go back to the airlines. I was talking with my husband and he reminded me of the great success I had in longer term value trading.
So in my late nights breast feeding I began to do research about day trading and I came upon Timothy Sykes site and Profit.ly. At first I thought this is a bogus scammer on the internet. Then I did as much research as possible to find out about him and his training. It turns out it was all true. I applied to be his challenge student and took the leap of faith and told my husband I can do this and be successful.
So I signed up as a challenge student back in February 2015 for roughly $6,000. ( For those that don’t have all that capital to invest in the program I recommend the Silver Subscription – monthly payments)Once the DVD’s and notebooks arrived I was overwhelmed with all the information. I began watching the videos every night and during the day. I would schedule my daughters morning nap to allow me the time to be in front of my computer at market open.
In the first 3 months I did not follow the rules. I was a bag holder, revenge traded and positioned too large. I burned through $6000 in just a few short weeks. Afterwards I took 3 months to re-establish myself and find my bearings through strict discipline and focus studies on my areas of weakness.
Once my daughter was in daycare on a steady schedule, I watched the market each morning looking for trends. I began to see the patterns and worked on paper trading. 9 months into my studying, my paper trading was profitable so I began trading with real money again. I positioned small and did my research every morning before open and slowly grew my profits. 11 months into my day trading journey, January of 2016 I was in the green.
When I follow the rules I’m making more in a week than my husband who is an airline pilot. My husband now calls me Sugar Jane with all the profits I have coming in to enjoy our life to the fullest. It is wonderful to be able to provide for my family with 12-15hours of work a week and now well on my way to making 100K by my new goal August 15th.
This blog post is to help you see that you can have the curviest of roads to success. It isn’t always a straight line. There are speed bumps, pot holes and detours, but as long as you keep your final destination in site you can get there. One day at a time, studying each day you can achieve your dream no matter what it might be.
As always I hope this helps you in your day trading journey. If you have any other questions shoot them to me here in comments, Twitter, Facebook, Instagram or LinkedIn.
As always Carpe Profit and Stay Green.
Here is the link to Tim’s Blog Post about me Feb 28th, 2016.
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.
by Jane | May 7, 2016 | Uncategorized
I had a request to write about the setups I look for and how I tackle them. I am in a timeframe when I am more long biased. I like the fact that when you go long the loss is limited to the investment you put into the market. The short squeezes that drove KBIO into the sky could easily cause anyone to lose the shirt on their back if they hold short overnight. That being said I stick to more of the long side unless it is a stock that I see moving within the ranges of the days.
For $LXU and $ENDP I found them in the same way. I found them by looking at the stocks with the biggest move down in the market for the day and looking at the chart. I typically try to play them for the initial morning reversal.
For $LXU I was in at 9.06 for initial reversal and then out at 9.25. It sold off a little and had held 9 fairly well so I added more when it dropped back down to the whole number. If you don’t see it already the round dollar and fifty cent marks tend to act as resistance and support as most people are looking to enter or exit around those numbers in their brain. So I went just below 9 as it was holding well. Then at lunch it started to sell off and continued down until close. I added again just before close for an average of 8.74 with the idea that this stock has come down $6 from $14 a 40% drop in 3 days and the shorts should close before end of day on Friday.
Most people that short stocks want to close out the short position before the end of trading day on Fridays. They want to close out the position because in shorting you borrow the stock from the brokerage house and have to usually pay a borrow fee each day you have the stock short. On Saturday and Sunday there isn’t really a benefit to borrowing the stock because there is not trading sessions. So typically on Friday’s you will see a stock that has been beaten down over the week to have a bounce up on Fridays before lunch.
That was exactly the case on $LXU today. I sold part of my position at 8.99 this morning thinking the 9.00 mark would pose resistance to the price movement. Well the next minute it spiked to 9.81. In that minute I went ahead and executed a market order to get out of the position in case it tanked down the rest of the day. In holding overnight for the gap up I have learned take the profit early. It could continue up, but it can also tank away all day again so as I say…..Carpe Profit!. Seize that moment in price action. All gains are never a reason to be upset. It’s a gain. Yes if I had held my full position to the high of day on LXU I would have been up $17,000 but I’m happy with my $4600 profit on the stock.
Another indicator I look at for the stock is looking at the RSI for the stock in both a daily chart with 1 min time frame or year chart with daily time frame. With the year chart with the stock below 30 it is a good indicator oversold for the macro vision of the year. Then I look more micro into the minute time frame to see the price action for below 30 or a dip below the Bollinger bands.
With $ENDP I have been in and out of this stock a couple times so far this year. This FORBES article from April 11 resonated with me about the stock and now when I see the RSI below 30 I usually capitalize on it.
As you can see by the chart above ENDP definitely looks oversold with an $RSI of 23.55 on the 1 year chart. The stock was down more than 40% of Thursday’s closing price all day. The low of the day was 15.50 and it opened at 17.40 from a closing price of 26.59. To me this is the rubber band effect. It has been overextended downward and shorts have tried to pummel it down as well as people selling their value investment. The shorts in my opinion will cover. The stock lost 40% of the value based on forward looking statements. For the past quarter they produced better than expected earnings per share however a negative forward looking statemen
I guess my rubber band reversal strategy comes from looking at a value stock seeing it on deep discount it makes me think of this quote from the Forbes Article….Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful.
I like to look at the oversold stocks as opportunities. I am still working on perfecting my strategy and not going in emotionally. My entry on $ENDP is 16.15 average so going into the weekend I’m up .02 Yes!
Ending the week Green. Carpe Profits!! Now that the markets are closed on the weekend please take the time to study and research and enjoy time with friends and family. Don’t forget your mother on Sunday. It’s Mother’s Day!
I love to hear back from you. If you have a question a comment or concern please send it my way here as a comment or on Twitter (Jane_YUL), Instagram (MissAirplaneJane) Facebook (Jane Gallina) or LinkedIN (JaneGallina)
I have begun work on my special project to help inspire more women to trade. I never would have thought I would be here today with all these profits, but it is all possible with hard work and study.
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.
by Jane | May 4, 2016 | Uncategorized
There are lots of stocks in play right now because all sorts of companies are announcing their earnings. There are many locations to find the calendar of which companies are due to release earnings here is one through Yahoo Finance. It is definitely risky holding a stock through earnings because the market does not always react rationally. When it is a winner it can tank and when it is a loser it can spike. So remember to trade the price action not what you think it is going to do.
Monday was a tough day trading for me as I broke rules and my trades suffered from it. I try not to enter a trade before 950-10 am when there tends to be a clear trend in price action. I made the mistake of entering too early and ended up down for the day. I also entered at the top of a run at 1030 which I know my past trades is not a profitable entry point for me on the longside. By 11 am I was down more than $500.
When that happens don’t become emotional and revenge trade to try to make it back. I simply stopped. Listened in on the Trade Ideas Trading Room and stopped to watch. I was rushed in the morning on Monday not of a clear head when I sat down and my personal day affected my trading day. Trades are better without emotions. Great to celebrate afterwards, but trading without emotions as much as possible and just the numbers will give you the best profits.
I waited until my head was clear and then entered two good trades to end up down but roughly $21 instead of over $500. I did not force the trades and I was patient for good entries.
Today was an amazing day until 3pm. I jumped back into SRPT for power hour looking for an amazing finish to the day with the downtrend on price action from 230. In retrospect I was trading without my full screen from the kitchen table and I probably would have done better not just jumping in but looking at the press to see it was getting beaten down with downgrades. After I read those articles I made sure not to hold it overnight as I believe it will be a gap down scenario. Not too bad closed down .10 from my entry.
Right now there are great plays even when the SPY is downtrending. Finding your niche and being able to profit when the market is tanking is always good. I’m looking forward to learning more about options to use puts to short because the risk is limited into the contract investment instead of unlimited with shorting a stock.
My losing trades in the past two days were all about entries where my risk was not minimized. It is extremely important to understand about the risk of your entry. I got lucky on my trade after lunch with SRPT today when I jumped in over the half dollar at 18.57. It dropped back down to 18 before it went up to 18.80 again and I bailed. That was a gamble trade. RSI was high so it was showing overbought and I think I might have bought and the high of that runup. It was luck that the trade went for me.
Being continuously successful in day trading is all about a good entry. Learn what makes your entries good. When you have a good entry it is easy to be confident in the trade and not feel stressed in front of your computer. You can breath easy and when it is going in your favor surf the net some, try not to let the profit growing cause you to sell off too soon.( the emotion of profiting can take over) Two days in a row I sold SRPT way too conservatively leaving a bunch of profit on the table. I still profited but I can definitely get better in letting my winners grow.
I have moved up my goal of 100K in profits to my birthday August 15th. I would love to be able to say I made 100K before then and with my goal of $1K a day now it is possible. If I have a loss I don’t beat myself up. I analyze and learn from my errors. Those red days are becoming fewer and fewer. I’m not a computer so I know they will happen I just need to learn from them.
As always I hope these blogs are helping you learn and grow as a trader yourself. I try to post watch lists, however I find I’m actually doing better with my trading when I analyze the market in the morning. Time as a mom is always precious and if my head is not clouded with what I think will happen to a stock and trading the price I find I do much better.
Learn from your mistakes, Carpe Profit and Stay Green.
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.
by Jane | Apr 30, 2016 | Uncategorized
It was another great week with over $4,000 in profits working 4 days at my desk. Where can you make this kind of money? Well it doesn’t just grow on trees you have to study the market and understand what you are getting into in order to be in the 10% of successful day traders.
The photo above is a sample of the research I do after 8pm EST to see where the stocks are before open. The general market hours are from 9:30-4EST. We also have after-hours 4pm-8pm and premarket 4am-9:30am. That is another 9.5 hours of price action that can change a stock. That’s why I will do the research, but I really look at the stocks right before open to see the most up to date price action. Day trading is about being present in the price action and reacting accordingly. Yes there can be indicators that lead you to believe something will happen to the price, but the market is not always rational. You can have earnings winners that tank and earnings losers like $NLNK that end up spiking.
I received a Profitly message from safariames to explain what I meant in my watchlist with Reversal, Short Squeeze, Longer Term, Gap Fill.
When I have a stock on the Short Squeeze list it means I’m expecting there to be a fairly nice upward movement once it reverses. It is due to the fact that the ones I have under this description are popping up under a filter with 30% short float or more. That means of the shares outstanding 30% of them have been sold short with the expectation that the stock will drop. Once there is a nice upward trend then you have people buying long as well as the people that sold short that will buy the stock to cover their position. That in essence creates a nice upward momentum in the stock price. It’s basic supply and demand and the more demand for the stock the faster it increases. Sometimes like KBIO you will see a stock go from 1.50 to 45 but it is a rarity. That is when you don’t want to be one of the shorts getting squeezed.
I did mention reversal in my Short Squeeze list. What I mean with a reversal is when a stock is climbing and it hits resistance such as TRUE that climbed to 7.78 and then stopped climbing and sold off. The stock reversed direction in reaching resistance (you could think of a ceiling that you can break through.) Or it can go the other direction when it hits the LOD or the support and it goes up in price. I have been long biased lately and I look for reversal plays. I like the idea of a long play being limited to the loss of my investment where as with a short the loss potential is unlimited. After watching Mark Croock’s video about shorting with options instead of the stock to limit the loss I want to learn more about options (once I hit my 100K in profits over half way there). I think it is great to limit your loss to your investment instead of unlimited. Sorry off topic back to watchlist.
The Gap Fill is another type of reversal but it is one that I’m looking for after a huge gap down. An example of this is COWN it gapped down from close of 3.60 to open of 3.20 and it ended up closing at 3.49. This is a one day fill of most of the gap. I think of gap fills taking a little longer but the best are the same day. Which brings me to the longer term.
I do swing trades and hold them longer term for stocks that I believe have value to them and will gain value again. My best stock for this is WYNN when it was at $58 close to the 52 week lo. Over the next month it climbed $40 a share to $98. I played it very conservative taking max I think $6 a share.
I hope this helps you to decipher my watchlist and learn more about the plays I target. The market is always changing and I do short as well, but for the present time I’m more long biased.
Have a great weekend. As always enjoy the time with your friends and family as those moments are priceless and irreplaceable. If you have questions shot them to me on Profitly, Instagram, Facebook and Twitter. I enjoy helping you as I was in your shoes not long ago.
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.
by Jane | Apr 27, 2016 | Uncategorized
For those of you that follow me in the USA and have a 401K you should know that you more than likely have the ability to control the growth yourself. I had a request from Wavey Crocket to talk about 401k trading.
Mine is with Fidelity from my former years working with USAirways. I was able to open a self directly account with Fidelity. I was able to convert the money from Mutual funds and use the funds to trade with stocks for myself. In your 401k you can make trades only to the long side. When you go long or buy a stock the maximum loss you can have is what you invest. I don’t know of any brokerage house that will let you short in your 401K because the loss potential is unlimited and then you would have to contribute more to your 401K.
Trading in your 401K account when managed by yourself can be as aggressive or conservative as you like. I tend to pick longer term stocks that I think will be growing in months to years. I have been trading a fair amount of UWTI and DWTI as the price of oil oscillates and I take my profit with limit orders. The downside to the 401K trading for me is the fact that I have to wait the 3 days for the funds to clear after the trade. There is no margin trading that I know of for 401k so you have to wait your trade to settle in the account before you can go into another trade. For that reason I don’t tend to trade my faster paced day trades more longer term. For today I sold my position in UWTI that I entered around 19.50 and sold at 28.25. I will wait until it settles and assess whether DWTI or UWTI would be better to enter. Looking at after-hours I see that UWTI is up .99 from close to 29.23. As with all my trades taking a profit is always better than a loss.
Which brings me to one of my trades today that I was trying to protect my little profit with a hard stop on ENDP and it executed immediately at 29.32 and then the stock proceeded in the afternoon of 30. I was way to conservative in trying to protect my profit. I was being conservative because I did not feel I had the best entry here as after I bought the stock at 29.22 dropped 80 cents down to 28.40 and I did not want it to go against me again. I was trying to let the trade have legs with a hard stop. Yet I don’t like hard stops because I always find my stops execute right after I put them in. I’m almost convinced the market makers see them and manipulate the price to execute them. However when life happens and I’m in a business meeting for 2 hours I want to protect profits I use them. It is always great to protect them.
Just like at open today, I had my limit order in from yesterday and when ENDP spiked at open it locked in a small .17 cent profit at 30.54. If I had not had my limit order in there was the potential for me to forget about the stock and take a loss. I like setting an exit right after I enter in case the stock spikes like crazy with a squeeze or I am pulled away from my desk for some reason.
My biggest wins of the day were on CWEI. One trade that I swung overnight from the trade of the week idea from Trade Ideas. I entered in at 17.15 and then the stock sold off to 16.57 and I added more for an average entry of 16.95. I had a target exit of close to 18 but I saw the initial spike this morning was up in the 17.60’s and knowing the trends of a reversal typically around 950~10am I seized the profit and sold at 17.57. Also my position size on this stock was fairly large in relation to the volume so I had to plan my exit accordingly. I in fact tried to go back in when it was down at 16.80’s but I made the mistake of hitting market and I had an average entry of 17.15 a big 30 cent spread from 16.80. A lesson I learned about sizing and setting a limit so as not to really get burned on entry. A partial lower is always better than a bad entry.
My real pleasure is in seeing STX finally having the upward momentum the past two days. I had a bad entry seeing that the stock dropped 2 dollars from when I went long. I really hope you were more patient and have already made money on this $2 gain that has happened over the last week. After reading the article about the company announcing their new 10TB storage drives for cloud storage companies the viability of the company as a value stock is reiterated. I think this stock will recover more of the bid drop it had two weeks ago from 33 but how quickly I’m not sure. My ideal target is up between 28-29 however I will trade it based on price action. The fact that they are announcing before the market on Friday leads me to believe they will meet their estimate. We shall see…In the mean time I’m looking for that price target and will enjoy this week’s momentum.
I hope you have had a profitable week and keeping those profits protected. It’s always nice to end the day green. I have felt that I have been just ok with my trades the past two days getting back into the swing of things. I feel like my timing was off and I need to wait for my 3 greens for entry. I mean the real move on ENDP was from 28.40 to 30 and somehow I only locked 10 cents of that 1.60 Not the best, yet a profit. When you find that you have a trade that did not work out like you expected. Swallow you pride analyze it and figure out what went wrong so you can try to prevent it from happening the next time.
Day trading for me is being present in the price action and not acting fearfully or emotionally with excitement. The best trades are simply watching level 2, RSI and time of day. When you track your trades and study your weaknesses you can improve.
Enjoy your trading day tomorrow I will be back on Twitter on Thursday. Tomorrow is a day filled with meetings.
As always shoot me comments, Tweets or messages on Facebook, Instagram and Profitly. I’m happy to help where I can.
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.
by Jane | Apr 25, 2016 | Uncategorized
This week I anticipated $STX to have more of a bounce than 60 cents up to 26 dollars. I am analyzing if I want to minimize my risk and lower my position size and take a partial loss. I was thinking that it would be more like $1-$2 jump after a drop of $10. Looking at the announcement time of the earnings being in the morning on Friday the 29th leads me to believe that it is not going to be total bad news and the earnings losers tend to push back their announcements until after the market closes.
I probably minimize my position by roughly 1/4 are hold the rest through the week. $BABY I cut too early and sure enough it went from $29 up to $34 I was too impatient with my swing trade and looking more into the action.
As I’m just back and home, unpacked and back into the swing of prepping of the week I will review Equity Feed. Once I have my list I will open up trading view and check out the charts. I’ll also look at Trade Ideas to see what the software is analyzing as social media posts. Usually when people are talking about a stock there is volume and price action behind it. Of course all sorts of news can come out between now 9 pm and 9:30 am tomorrow, so I will analyze my watchlist again tomorrow morning just before market open to see if my picks are in play or there are others with more potential.
I hope you had a great week this past week and a good weekend. This new job with the freedom to travel to see my family is invaluable. I used to work for free standby travel and now it is much nicer to be able to fly confirmed and enjoy time with family.
I did miss trading, but I was happy to have a week to simply play with my daughter and her cousins 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.
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.
by Jane | Apr 20, 2016 | Uncategorized
I have had a couple people ask me how I scan for stocks to add to my watch lists.There are a couple important factors in day trading to have a successful trade. One very important one is liquidity or number of shares that are being bought and sold. If you get into a stock and there isn’t enough liquidity when you want to sell your position depending on the size of it you might drop the stock price on your exit.
So to find a stock that has good liquidity. I will usually do my morning gap scans with more than 100,000 shares changing hands and more than 100 trades for the premarket. I also look at the stocks from the previous day on market view with Equityfeed. I look at the stocks that had the biggest gap down and up for yesterday and premarket today.
Typically the stocks that have had big movements from the day before and that morning are good to trade because the bigger movements come with news of some sort to drive the price action. I tend to be someone that will trade a stock that is reversing so if it is overextended in the buying side or the selling side. There is what seems to be a rubber band effect once the price goes above or below the Bollinger Bands (BB) on 1 min chart. Also the RSI or relative strength index above 70 can indicate overbought and below 30 to indicate oversold.
For my day trades I use the BB and RSI together to time my entries looking at primarily the 1 minute chart. You have heard me refer to my three greens for going long in which I look at 3 charts for the same stock of 1,2 and 5 min charts and I would look for all three charts to show green candles. You probably won’t enter and the bottom but it tends to be a fairly good indicator of the momentum shifting. It can sometimes just indicate a bounce and fake you out.
For my longer swing trades I will look more at the price action of a stock over a year or longer time frame. I posted the STX stock chart as an example of why I entered the trade. This stock looks to have set up a double bottom and is ready for a bounce or upward movement like it reversed in February. When you look at the chart over a year or in this case 3 years you can see the RSI for the daily chart is below 30 a typical indication of overselling. My swing trades I use more of my value trading history to reason the trade in that this stock has good value to it as one of the S&P 500 stocks and one of two major producers for hard disk drives. The press has been the driving factor in the selloffs/shorting that we have seen. Same thing happened to TSLA that drove it down to 140 now it’s up in 240s. Once the momentum shifts people see that it is rising again they will jump back in and drive the price action up.
I hope this has helped you to understand how I scan for my stocks. As for finding them with scanners Inuse Equityfeed for the gapping stocks and sortability. You could use finviz.com or Yahoo biggest gainers if you can’t afford to pay. Intraday I use Trade Ideas for stocks that are in play. You can find links to all of them under the main menu page how to start daytrading.
I hope this week has been green for you so far. I’m having a great time with my family and having my daughter play with her cousins. I miss my trading desk, however these moments are priceless. I’m so thankful I took the time to study the market to make this work schedule freedom a possibility.
I always love hearing how I’ve helped you or questions you want answered. Leave a comment or shoot me a message on Instagram, Facebook or Twitter and I will answer to the best of my ability. I should also be having an upcoming interview from Jacob Whitish the guy that created the Digital Stock Summit and on my trip I just came up with a great book idea.
Have a great day, afternoon or night and know you can do it all too. Just take steps to change your reality into what you want it to be.
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.
by Jane | Apr 16, 2016 | Uncategorized
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.
