12/12/16-12/16/16 Recap

12/13/16: $AKAO long entry at $14.43 once it broke above VWAP. Held through the pullback then sold half the shares at $14.75 and the other half $15.15.

12/15/16: $ATHN had the right read on this just bad timing. Got long at $117 and stopped out at $115.50. Luckily I had super small size on this so loss wasnt too bad. I need to stay more patient at the open and not trade for atleast the first 15 minutes. 

12/15/16: $PIR was from the gap up scanner on good earning estimates. This could have been a easier long than short I just have to make things complicated lol. I was watching this all morning just kept hesitating for an entry thinking it would pull back to VWAP before 11 am. That didn't happen so I stayed patient and  I waited for the backside then got short at $8.69 once I saw price action weakening and approaching VWAP. Got out at $8.45 since my broker reduces my buying power at 3:30pm and it was getting close to that time. 

12/5/16-12/9/16 Recap

Wednesday 12/7/16: $WDC from gap up scanner.Had a nice short entry here at $67.41 and exit at $66.88 for the first trade but then I started chasing. Second short entry was at $66.70, which was horrible, I should know better than shorting into weakness like that. The stock rebounded and I tried to get my average cost of shares down with another short entry off VWAP at $66.92. Got stopped out at 67.30. This is how you turn a $200+ winner into a $50 winner. I guess green is still green. 

$PLAY from gap up scanner as well. Long entry at $54.90 risking on the 9EMA and exit at $55.50 once I thought I saw weakness. Nice and simple. If only every trade could be this headache-free. 

Thursday 12/8/16: $LULU also a gap up. I was initially looking for a long since the the 9EMA and VWAP were holding well, but I was patient and kept waiting for confirmation. Once that first candle printed under the 9EMA I got short at $70.22. Exit was at $69.15 near support. 

11/29/16-12/2/16 Recap

Tuesday 11/29/16: $X popped up on gap down scanner and I was looking to short under $31 which was premarket support but it broke through before the open and didnt take the trade since i dont like trading premarket. I decided to wait and see what sets up. Around 11 oclock the stock was uptrending nicely and broke above VWAP. Got in long at $30.91 with a tight stop right below the 9-day EMA. Saw resistance at $31.50 so got out at $31.40.

Wednesday 11/30/2016: $SPLK from gap up scanner. Big sell off right at the open so I made sure I didnt chase (as tempting as it was). Waited until stock came back up towards VWAP and got in short off the bounce at $60.31. It was consolidating for a bit at that $60 level and that kinda spooked me out so I got out pretty fast at $60.07. I kept my eyes on this and on the next move back up $60 confirmed as resistance so I got in short again at $59.84. Got out way too quick here at $59.50 but I'll happily take my piker profits lol. 

Thursday 12/01/16: $BLUE from gap up scanner. I had my eyes on this all day and when the short set up off the VWAP bounce I realized my broker didnt have any borrows and stock was not shortable. :( no trades this day.

Friday 12/02/16: $WDAY from gap down scanner. Was looking for a short to break under under $67.50 level. got in short at $67.67 and got stopped out at $68. I kept my eyes on this but I let my earlier trade affect my bias on this and I was still thinking short for some dumb reason instead of looking at what the chart was telling me. I should have taken this long around 11 oclock once VWAP and the 9EMA was holding and stock was uptrending. Im just glad I didnt push any other buttons for another short attempt here.

Things to keep in mind:

Look at where stock is at around 11 oclock once you have a whole half day of price action to go by

Missing out on a trade is better than a losing trade

Dont let earlier trades affect yout bias

Check to make sure broker has borrows before wasting time on a stock looking for a short 

General Rule- gap down, look for uptrend. gap up, look for downtrend. obviously this is just something to use as a guide. 

Interesting video related to Trading

At 3:40 he explains exactly how I attempt to approach the markets. Even if you only make money on half of the trades you take, as long as your using proper risk management to let your winners run and to cut your losers fast, then probability will be on your side. If you make 100 trades and every time you lose you only lose $10 and every time you win you make $20, even if you only have a 50% winning ratio, then the chances of you losing money at the end are 1 in 2300! Also funny to see how hesitant the people in the video are to take on any risk at all lol trading is definitely not for everyone