by Jane | Mar 30, 2016 | Uncategorized
This month is not over yet, but I have had 3 days with more than $4k in profits. I find the importance to having successful winning trades is timing and confidence. I was off with timing today but still did incredibly. Yesterday however was not the same.
I find most of my losing trades in the morning come from opening a trade before the morning panic trades have figured out a trend. Yesterday would have been better if I had waited to open my ACAD trade at the bottom of the morning selloff and rode the spike up to 25. Instead I was in a losing trade and didn’t give it time to work for me and locked in a loss. Patience on Entry is important.
With ARIA I found the stock on the bounce scanner with Trade Ideas and it looked like the RSI and the timing of the trade would cause it to have a pre-lunch cover as I like to call it. I see that on Mondays many times that isn’t always true. I try to figure out the psychological state of other traders when making my decisions. I made the mistake of adding and averaging down on my entry price and the stock never bounced. Even if I had swung this trade through today it never hit my initial entry of 6.21. I ate the loss instead and moved forward today with a clear head. More than 75% of the trades found on the bounce play alert tend to be winners and this was one of the 25% losers.
With PTLA my biggest stock I’m playing this week I saw the big selloff on Thursday and knew I would put it on watch for my long plays. Sometimes I can’t get shares to short so I try to be patient for long entries. This stock has had a great deal of liquidity to get in and out of easily. I had a great long trade Monday and added again end of day looking for a gain at open today. It did climb but I thought it would stall around 19.40 so I took my profit on a pullback. I locked a good gain, but I could have been patient to let my two limit orders execute and more than double my profit. Cant be overly greedy. Taking a gain is a gain and not a loss. I sold all my long position around 19.37 and then looked to short. I did not time my entry correctly and only had a minimal profit. I had a good long entry again 19.55 and sold it when I thought it would not cross 20. It did cross 20 but happy with my gains again and I put in a limit buy order while changing our winter tires of the cars. It executed and then I added again at 19.59. Since I plan on taking Wednesday off I will set a limit that I think will likely execute.
Monday I took my profits from GIII swing trade that ended up strong on Friday and continued the momentum. I was conservative in taking my profit just below 46 since it went all the way up to 46.69 in the am upward momentum. Looking at it today I could have even held all the way up to 47. Live and learn. I have found a winning strategy for myself and will stick to it for now.
My trades for today include the P long where again I didnt wait until the reversal happened after open. I began my position too soon.
In writing these trade reviews it really helps me to see my issues. A great trade begins with a great entry, otherwise you can be fighting the action more than you anticipate. It also allows me to study the timing in the market of how other traders act. Whether it is the robot computers making trades that are timed or real people I see the trends.
I have had a bunch of fellow traders responding about how these blogs are helping. I’m so happy to hear that I can help others in starting to day trade as it is an ocean of information. Best thing I can say is take it one day at a time and try to study and gain a grasp. Once you feel you understand, paper trade until consistent.
Just like running a marathon you don’t wake up tomorrow and run it you need to train to prevent injuries and have the mental ability to finish. The same is true with trading you need to add to your knowledge each day and it will compound and become easier. The psychological aspect in the begin can be very tough especially when you feel you can’t make a winning trade. Study to ensure you don’t end up there.
I love hearing from you and how I can help. To each person that says I inspire them, you guys inspire me to write these blogs to help with your feedback. Thank you and know you can do it too. When you have a passion you make time!
I love my job now and I look forward to sitting down to trade each day. You can love you life too. Your days of your life are what you do and who you associate with in you time awake. If you aren’t happy, make steps to change that and do it today.
If you are brand new I recommend Tim Sykes How to Make Millions DVD. The proceeds go to charity so you are able to help others while educating yourself.
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 | Mar 25, 2016 | Blog Post
I’m excited about next weeks Digital Stock Summit March 28-April 1. Even though I’m doing well there is always value in learning from others. There were 18 different speakers. It was free during the week above, if you are interested in these valuable videos then you can buy lifetime access to all the videos for $149. And a special discount code SJT50 for 50% off. Amazing deal $75 for 18 hours of expert advice.
Check out the site. When you invest in education you never lose.
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 | Mar 25, 2016 | Blog Post
When you are trading and you have great entries it is really hard not to have a good day. I had 100% track record today with 5 winning trades. I did not overtrade and was patient with my entries and exits.
It is important to be able to find the right stocks in play. With a stock that has the volume and momentum the trades become easy. On Monday or Tuesday I discovered the Trade Ideas Free Trading Chatroom.
This chat room is great for two great reasons. You get to see live action of Trade Ideas for Free, which I feel is amazing scanning software and you also get to be a part of chatroom which is really nice for newbie traders.
I know what it is like in the beginning when you don’t know what broker to use, what charting software and are overwhelmed. This chatroom is nice because Barrie the moderator is great at explaining what you see on the screen share. Also for someone just starting out this isn’t going to eat into your trading budget with a cost of Free.
Today I traded 5 stocks which I all found through Trade Ideas. I like to play bottom bounces and reversals and the software is amazing at finding these plays.
WDC had a big selloff yesterday and going into the long weekend I expected the shorts to want to cover to avoid the short borrow fees. It acted in the way I expected 100%
I set my limit for my sell at a reasonable point around the whole dollar mark of 48. I would watch it in between my ass kicking by my trainer and happened to catch it the moment it spiked above 48.
With NRG I saw it come up on the scanner and consolidate down around 12.35. I knew that an entry at 12.38 was not going to be bad as it was 3 cents of the low of the day. NRG had only come down 50 cents off open so I did’t want to get greedy and looked for the first point of resistance over the half dollar mark to set my limit. My sale executed while on the road to the gym.
With GIII I opened this swing trade on Tuesday expect the gap to be filled somewhat by the end of close today. It had a very strong finish and I believe there is more to be filled so I held 50% of my position through the weekend looking for a spike at open on Monday to start the week with a cushion.
PTLA I thought would have a bigger finish to the day with such selling today. In at 12.35 and out at 12.44. It did go up to 20.65 and I saw the resistance but I didn’t exit. A poor exit on this one but still in the green. I will watch PTLA for Monday.
I am long GIII 44.67, and STRP from 27.47 and will watch PTLA as well. Sunday night I will check to see if anything else interests me, but I will probably decided on Monday morning.
You can see with the right entries and patience and for me letting my winners work without me there. It is possible to have a great day. A good entry is crucial. Knowing where you stand in the price action for the day and what your risk to your entry is will help you to stay green.
As always study hard and do the work and the results will happen. I began with a $6K loss in my first months. Now I am making $2,500+ in one day.
You can do it as well. I do really like Tim Sykes giving back and I’m very thankful to have found his tools to learn. That is why I highly recommend his How to Make Millions DVD which is roughly 35 hours and a great starting point.
The best part is the proceeds from the sale of the DVD go to charity in which he give back to people that need it. When I get to the Million Dollar Mark I want to give back as well to a charity for children.
Until then I will give small to other people that I know appreciate the help. Today I made $1300 with my trainer and treated him to some training tools.
He was talking about them during our session, not knowing they would be gifted to him for his good heart and compassion in training others.
I believe in helping others and it won’t necessarily come back from them but you will get it back in other ways. So if I can help in training others to be self sufficient I am happy to do so now. Who knows maybe one day I will set up a real teaching program. For now all my blogs are also helping me to review my trades and grow in trading as well.
Have an amazing holiday weekend!! I love hearing about other’s journeys it is touching to learn other’s stories.
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 | Mar 23, 2016 | Blog Post, Uncategorized
A good trade is a combination of multiple items and timing is very important. After the absolutely amazing trading week last week I felt like I should be able to find some amazing trades.
Well the result was overtrading both days. In overtrading you can stack up wins, but you also stack up commissions.
Todays frustration was with VRX seeing the evolution of the rise all day and My poor entries and exits on GIII. VRX. I had a good entry both times, however the second time I could have let it develop more for a better gain.
On GIII my timing was all off. I started my short and it continued to rise. So I added and I added and then when I say I was in the green I tried to be patient to let the trade develop when I really should have taken the gain.
I see the reversal happening right in front of my eyes and then boom in one minute it moved 54 cents and my gain was washed away. I then took the time to no longer fight the trend and go long.
Trading is a perfect example of being in the moment and not hoping or living in the past. I was watching GIII and eating lunch with my husband. I saw it come to 15 cents from my exit target and a moment where I was hoping and not trading the action.
I was distracted by conversation and didn’t sell with a nice gain. I then left for the gym and saw it retest up by 46 but it did not cross it again. Then it had an afternoon fade.
I added one more time when it seemed like it had bottomed at 44.50 and then it collapsed down to 43.80. I feel this week I’m off with my timing and need to be a sniper on entries and exits.
I am finding the stocks with the movement and just not executing them correctly. I am still profiting, but I have room for improvement.
At the time of writing this GIII has moved up in after hours trading to 45 and should have a nice spike up at open for shorts covering. I anticipate it will hit 47 before the closing bell on Thursday. Don’t forget a shortened trading week with Good Friday.
My take away from the first two days of the week is be patient for the right stocks. Be a sniper on entries. The right stocks will perform. I feel like with GIII I almost had the deer in headlights watching it hit my targets twice and I did not execute. It’s ok something to work on and get better. Once I do I will be well on my way to making my cool Million ok first my $100K.
I hope you were successful yesterday and today and if not analyze what went wrong to try to correct it. My areas to improve are not to overtrade and wait for ideal setups with indicators on all three charts 1,2,5 min charts when entering a reversal trade. Then allowing the trade to work for me and when I see resistance or support don’t fight it take the profit.
I’ll be back on Thursday and hopefully will open my account tomorrow to see my GIII limit orders executed for a nice profit on my day off from the market.
Don’t forget you can alway check out Trade Ideas Trading Room for free during trading hours and they are allowing you a full free trial Wed and Thurs. Check it out!
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 | Mar 19, 2016 | Blog Post
It seems like each week my profits are becoming better and better. This week I had my biggest winning day twice.
First It happened on Monday with $4500 in profits. Roughly $1000 on Tuesday and Thursday. My most exciting part of the week was finding ENDP on the scanner setting up for my new favorite reversal setup. Both SCOR and ENDP were down roughly 30% hitting 52 week lows and rebounding.
I was lucky enough to enter $ENDP on Thursday with an average of 28.24 which was 80 cents off the bottom of 27.45. I knew that it was oversold and was going to rebound.
I had a limit set for open on Friday morning spike at 31.24. I thought it would improve throughout the day with all the shorts that sold off during the week and so I only sold half at open.
In hind sight, I know that when I hold overnight for a gap up sell 100% at open don’t wait. I ended up adding on the lows and closed my final position at 29.73 for my newest biggest day of $4700 including my short on LXU which looked way over extended up from $6 in two weeks.
This week has been an absolute blessing and seems almost unreal.
I remember the days last year I was dreaming of these sorts of wins. I was frustrated with poor entries at the time, sizing too big and not understanding the price action of the stocks.
In time it has become clear through practice and finding a winning strategy for me. I started with Timothy Sykes and I have taken the knowledge from him and created a strategy that works for me.
Honestly each time I hit a new milestone like a $4500 day and then a $4700 day and a $11,700 week I have to pinch myself.
This is my new reality it seems to have all clicked. It can for you too with the work. Every trader is different just like every athlete has their own stride.
With the right training it can and will happen. I have run 4 marathons and have the mental will power to persevere. In studying stocks there is a large emotional hurdle to tackle when you have losses or you make a mistake.
In the beginning I would get scared and let fear cause me to exit a trade at the biggest loss point ever and then it seemed like it would rebound.
I studied these mistakes and now I love the reversal. I figured out my weakness and turned it into my best strength. When something goes wrong turn it into a positive. Figure it out and learn from it.
Have an amazing weekend! Be strong and continue each day with a fresh positive mind and you will succeed.
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.
