Thankfully May is over!
For the past 3 weeks trying to trade this market has been next to impossible for me. The first week of May was nice but after that all I did was churn and go nowhere. I guess the only good news is I didn't lose money over that time.
To me all I see right now is one headfake after another with no follow thru at all. When the moves come they seem to come out of nowhere for no reason I can discern. A stock that shows relative strength one minute becomes dead the next. Very frustrating to put it mildly. In hindsight taking quick gains was the was to trade, but thats not my style at all. All in all though, considering how poorly I traded it could have been a lot worse.
For the week:
Mon holiday
Tue +701
Wen (475)
Thu (475)
Fri (611)
============
total (860)
Month of May: +2933
Friday, May 29, 2009
Friday, May 22, 2009
Week ending 5-22
Slow week. I've found the market very difficult to trade the last two weeks so I've spent a lot of time just watching and doing nothing. The lack of movement after the first few minutes is typical of summer in general so I expect this to continue for a few months. Sell in May and go away may well be in force this year. Time will tell.
As for the week, it was pretty uneventful. Small winners and small loser's. Thankfully more winners than loser's. Risk control is crucial right now due to the lack of really good set ups. You don't dare take a big loss because you might not get an opportunity to make it back. I can only hope things open up a bit.
For the week:
Mon- (620)
Tues- +788
Wens- (423)
Thurs- +823
Fri- +422
==============
Total +990
As for the week, it was pretty uneventful. Small winners and small loser's. Thankfully more winners than loser's. Risk control is crucial right now due to the lack of really good set ups. You don't dare take a big loss because you might not get an opportunity to make it back. I can only hope things open up a bit.
For the week:
Mon- (620)
Tues- +788
Wens- (423)
Thurs- +823
Fri- +422
==============
Total +990
Friday, May 15, 2009
Week ending 5-15
Egads. Might as well have just taken the week off.
Monday I woke up feeling sick but decided I was well enough to trade. Wrong! Placed my first trade and within seconds realized I was a lot sicker than I thought. Closed it out right away and spent the rest of the day in bed.
Tuesday I wasn't feeling much better but I traded anyhow. Just a dog fight all day. I don't remember all that happened other than flipping back and forth between being up and down on the day.
Wenseday I decided to take it easy and trade real small since I really hadn't got into any sort of rhythm for the week. Of course every trade was a winner but due to the small position sizes not a big day.
Thursday was nuts. Started out shorting FIG. Big mistake! Lets just say I was the bug and FIG was the winshield. Of course, I had a little size of this trade (5K). Figures. Anyway there's nothing like being down 2 grand before 10am. lol! Spent the rest of the day fighting back and somehow managed to get back into the green at about 3:45. Believe me, felt like a great day at that point.
Friday I made 2 trades and lost both. My daugther had a big competition for the regional Battle of the Books finals so I had to leave at 10:30.
I tend to trade much better towards the end of the week. In fact, I've noticed that I make most all my money Wens-Fri and oftentimes lose on Mon. Seems that getting into the flow of the market each week is extremely important for me. After being sick Monday and Tuesday I just never felt "it" this week. And even though I rarely trade past noon on Fri I let having to leave early effect me as well. I should have just taken today off completely. Oh well.
On a lighther note, I can't believe I could trade as many shares as I did this week and end up +/- $100 overall. I don't think I could do that again if I tried. Looking back I can't find another week in the last 17 months where I made or lost less than $500.
Mon- +29
Tues- (292)
Wens- +717
Thurs- +27
Fri- (601)
===========
Total (120)
Monday I woke up feeling sick but decided I was well enough to trade. Wrong! Placed my first trade and within seconds realized I was a lot sicker than I thought. Closed it out right away and spent the rest of the day in bed.
Tuesday I wasn't feeling much better but I traded anyhow. Just a dog fight all day. I don't remember all that happened other than flipping back and forth between being up and down on the day.
Wenseday I decided to take it easy and trade real small since I really hadn't got into any sort of rhythm for the week. Of course every trade was a winner but due to the small position sizes not a big day.
Thursday was nuts. Started out shorting FIG. Big mistake! Lets just say I was the bug and FIG was the winshield. Of course, I had a little size of this trade (5K). Figures. Anyway there's nothing like being down 2 grand before 10am. lol! Spent the rest of the day fighting back and somehow managed to get back into the green at about 3:45. Believe me, felt like a great day at that point.
Friday I made 2 trades and lost both. My daugther had a big competition for the regional Battle of the Books finals so I had to leave at 10:30.
I tend to trade much better towards the end of the week. In fact, I've noticed that I make most all my money Wens-Fri and oftentimes lose on Mon. Seems that getting into the flow of the market each week is extremely important for me. After being sick Monday and Tuesday I just never felt "it" this week. And even though I rarely trade past noon on Fri I let having to leave early effect me as well. I should have just taken today off completely. Oh well.
On a lighther note, I can't believe I could trade as many shares as I did this week and end up +/- $100 overall. I don't think I could do that again if I tried. Looking back I can't find another week in the last 17 months where I made or lost less than $500.
Mon- +29
Tues- (292)
Wens- +717
Thurs- +27
Fri- (601)
===========
Total (120)
Friday, May 8, 2009
Week ending 5-8
Another week of fairly decent decision making and even though the profits weren't huge the confidence boost of the last 2 weeks is making me feel pretty good about things.
Overall I did very little trading. I make most of my money by 10:30 est and between 2pm-3pm est andI pretty much stuck to trading in those time frames. My main focus was on trading really good setups and passing on anything marginal. Did a pretty decent job on that front I believe.
For the first week in a while relative strength/weakness trades worked well. Thats huge because it's my bread and butter. DRYS was a perfect example of that today. Stock was weak on news and couldn't rally 10 cents with market pops. Had it not been for being Friday and me not wanting to end the week with stress I would have hit it with some size.
For the week:
Mon- (142)
Tues- +708
Wens- +875
Thus- +533
Fri- +535
============
Total- +2,509
Overall I did very little trading. I make most of my money by 10:30 est and between 2pm-3pm est andI pretty much stuck to trading in those time frames. My main focus was on trading really good setups and passing on anything marginal. Did a pretty decent job on that front I believe.
For the first week in a while relative strength/weakness trades worked well. Thats huge because it's my bread and butter. DRYS was a perfect example of that today. Stock was weak on news and couldn't rally 10 cents with market pops. Had it not been for being Friday and me not wanting to end the week with stress I would have hit it with some size.
For the week:
Mon- (142)
Tues- +708
Wens- +875
Thus- +533
Fri- +535
============
Total- +2,509
Friday, May 1, 2009
Week ending 5-1
Just to keep the weekly stats going I'm updating yesterdays numbers to reflect todays trading.
Pretty quit as is normal for me of Friday's. Keep it small. Got lucky on HGSI short. Could have done really well on MA but I had small shares and bailed way too soon. Did have a great long entry though at 165 for a long scalp. Made 2 of the 8 points it bounced.LOL! Had a couple small loser's as well. Nothing special.
Mon- +343
Tues- +327
Wens- (436)
Thurs- +1769
Fri- +416
==============
Total- +2419
Pretty quit as is normal for me of Friday's. Keep it small. Got lucky on HGSI short. Could have done really well on MA but I had small shares and bailed way too soon. Did have a great long entry though at 165 for a long scalp. Made 2 of the 8 points it bounced.LOL! Had a couple small loser's as well. Nothing special.
Mon- +343
Tues- +327
Wens- (436)
Thurs- +1769
Fri- +416
==============
Total- +2419
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