i have to say taking time off recently has allowed me to clear my head. i realized when you are trading everyday, and are consistently wrong, it is very hard to get out of a negative mindset. imagine going into a job everyday, and every time you go to do a task, 30-40% of the time you are wrong. you would feel deflated at the end of everyday. i believe you would even tell yourself you aren't made for this job. find a new career. that is the place i was at. i think with enough time, and capital, one can train themselves to be an excellent trader. after you have developed a plan the trick is to stick to that plan. i have to be okay with being a one trick pony. i have to be okay with being bored. if i can make $300/day, which is 2 300 share trades for .50 i would be happy. granted, i would like to make more, but i can afford to make even less than that and still live happily.

looking over the years past charts, its crazy to see how many perfect setups there were. a nice move up, a gentle pullback to the 20 moving average, a nice narrow candle, confluence on multiple time frames, and then the trade goes your way. the hard part is having the patience to wait and not jump the gun. if the stock is too far from the 20, i need to pass on it, or just wait. once the stock takes off, i need to lock in profits at an ideal area, not just because i'm up X amount.  i have to be okay with not hitting homeruns.  everytime i trade, subconsciously i'm trying to get back to even. if i just hit singles day in and day out, i would be fine.

this job affords the ability to do what you want when you want. the secret for me is believing in myself, my system, and again having patience. i need to get back to listening to the affirmations and visualizing my setups. although i question the effectiveness sometimes, i know i am  better trader with the affirmations and visualizations then without them.

i have a much going on over the next few months. on the days where i can fully commit my day, or a period of the day to trading, then i will trade. no more, haphazard trading; trying to accomplish tasks while i am trading.

i feel good. i believe i can do this. the only questions is whether my capital (both financial as well as mental) with outlast my learning curve. if i see myself becoming negative, i'm going to take a few days off. as for the financial capital, i was lucky enough to hear some good news. once a month i will be flying to different events around the country for embraer. i will gone from 5-10 days at a time. enough chance to make some money, while still having the ability to trade when i get back.

i will have to see how things are playing out by the summer time and decide to go to a 1 year masters program or continue trading. ideally i could do both.

i hope everyone is doing well out there in blogland!

some comedy

no trading today. just some charts. some worked, some didn't.

what's up blog world. i have been a little under the weather the past few days and have been trying to take care of some other items of life. i only had the energy to put on one trade today. boy, where there ever a lot of opportunities for the patient ones. looking over these charts i realize, if the signals show up on the 15, i still need to wait for confirmation from the 5. sometimes, that will be one candle, sometimes 3 more 5 min candles. i really thinking patience is key. but, i don't know if i have it. when i first started trading i was wowed by all the blinking lights. now, this learning curve has become boring. sitting here, clicking through charts all day. that is boring. i think i will get my energy back when i possibly go live again some time in the spring. i need to remember what i am doing this for. to make money, that is it. that is the purpose. if i am bored making $500 a day so be it. but by that point, i think i will get enjoyment from screwing the silver spoons not necessarily from an accumulation of funds.


i sucked up my dizziness tonight to go to see the paper tongues. they were opening for neon trees. paper tongues blew it out of the box. these dudes are incredible and entertaining. unfortunately, i couldn't really find a video on youtube to do them justice. both videos are the same song, one acoustic and one okay recording from a club. this singer didn't miss a note. he can hit highs like nobody's business. unreal. they were truly entertaining. crawling on the floor, down in the crowd singing, a true performance! there were some people behind us who came to see neon trees and they were wowed by paper tongues.





Charts:


AIG: this was the one trade i put on using the 5 min chart alone. i thought that it had come to far too fast and i waited and waited. when it showed it wanted to go down i got short. the real trade was on the triple confirmation around 1:30.

SPY: that is rough looking. that action around 2:30 could drive a man to drink. and then the last 15mins, wow.

RDWR: i was contemplating shorting this one. i would have been stopped.

FFIV: i had my eye on this as well by chance. it was left on the screen from the day before. sometimes, i find great setups from stocks that trading well the day before.

BCR: didn't work this time

good luck to everyone tomorrow. i don't know if i will trade. hopefully, i will catch everything up by tomorrow evening and can devote my time fully on thursday and friday.

i don't feel like reviewing right now. here are the charts. have a nice weekend.

X: booyah, its been a long time since i have bought the high.

AIG: i was short, long, and maybe short again, i forget.

Crazy stock

I traded like a maniac today. Time to re-asses. I trading like its monopoly money and I shouldn't be. I need to remember why I am doing this.

CELG: I am okay with this trade. It seems there was significant evidence to go short after the stop.

CRZO: For the brain.

 DE: Nice spot to get long around 12:30. Nice entry short. I covered because I get frustrated quite quickly. I have been doing quite poorly as of late. I don't know if I need to switch back to some real money, so I remember what I am trying to do. Why I am doing this? Right now I am more focused on the GMAT and accounting classes than on the trading.

DECK: I had these lines drawn and was waiting for the break of the wedge. It broke up. I went long. and then it collapsed, ha. It truly is amazing how one can be wrong so many times.  Again, much evidence to go short as well after the entry or after the stop.

PXD:  Stopped out. I could have gone long after the stop. Then I would have gotten stopped out but I wonder if I would have gone short.

Q: This consolidation was driving me nuts. You have to love the pop up, and then subsequent collapse.

At the end of the day, I forgot how frustrated I get during the day. I think how many times can someone be so wrong. I really get on the wrong side emotionally. I may have to step away for a few days to clear my brain. Most likely that won't happen, but I probably should. Or I need to stop studying while trading. We will see.