No big trades today, although a few decent little ones. SEED was nice on the long side on the second cross of $10, after it consolidated a bit. I got it long late on red/green. QLTI was a nice breakout and I got stopped out too early. DRAM was a nice long from $3.90, but I got it on the $4 cross.
+ BOT 1,000 QLTI false Stock 4.550 USD SMART 09:32:24 5.00
+ SLD 1,000 QLTI false Stock 4.660 USD SMART 09:40:49 5.00
+ BOT 400 DRAM false Stock 4.000 USD SMART 09:54:45 2.00
+ SLD 400 DRAM false Stock 4.090 USD SMART 09:59:39 2.00
+ BOT 500 SEED false Stock 10.410 USD SMART 11:01:42 2.50
+ SLD 500 SEED false Stock 10.760 USD SMART 11:11:05 2.50
Daily profit: $302.00
Weekly profit: $1,459.09
Disclosure: No positions in anything mentioned in this post. I have a disclosure policy and you can find all my disclaimers there as well; those disclosure & disclaimers are incorporated by reference into this post.
0 thoughts on “Trade recap for Black Friday”
hey reaper thanks for the video on ‘why i don’t like shorting stocks making 52 week highs’ in response to the email I sent you about CSIQ and ENZN.
Trying to find the top of these strong stocks to short can be dangerous as they break out even more.. thanks for the insight..
I was looking at your trades from yesterday and before.. I noticed you don’t really put a lot of money in these trades(400,500 dram,seed) even though you’ve made a lot of money so far, i guess that’s one of the mistakes many traders make aspiring to make thousands too quickly…
have a good weekend!
I trade for a living … all novice traders want to get rich quick. I only need to average $300 per day to make $75k per year. Also, for the trade types I do where I am less confident / less profitable, I use much smaller position sizes. My current average position sizes for different types of trades are as follows:
Watchlist longs: $5k
Pre-leader longs: $1.5k
Sykes-type shorts $10k to $20k
Supernovae shorts: $20k to $50k
Super-secret: $500k at most, potentially much less if I judge the trade to be non-ideal
Just to throw my two cents in as well here, on shorting too soon – it can be increadibly tempting to try to “catch the big money” – however as my recent experience with NLST showed it can be *very* painful. I am just now finally emotionally ready to start getting back to trading. The week or so off was spent reading, and evaluating what has worked for me in the past as well as what has not. I am currently reading “reminiscences of a stock operator” – a classic.
gl to all and see you back in the markets soon!
–Lucid (more than before at least)
“I trade for a living … all novice traders want to get rich quick. I only need to average $300 per day to make $75k per year.”
Excellent advice and smart thinking!