Trade recap for 11/19 and an abbreviated watchlist

My profit today is largely due to InvestorsLive of the Investors Underground stock chat, who is good at understanding and identifying pumps; I played and profited off of BLAP after his alerts.

TTIL, BONT on watch as longs. I explain a bit in the video. CLDS as well. NLST still on short watch, but it is getting annoyingly choppy and borrows are mostly gone.

Trades today:
+    SLD    15,000    BLAP    false    Stock    .061    USD    SMART    09:33:26        4.57
SLD    15,000    BLAP    false    Stock    0.0600    USD    SMART    09:33:45        4.50

Daily profit: $449.17

Disclosure: No positions in any stocks 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 11/19 and an abbreviated watchlist”

  1. This is probably a stupid question but when you say go long on green what exactly do you mean? Do you mean buy if it goes above the closing price of the previous day? And if so what if ti gaps up? Say it closes at $1 and the next day it opens at $1.5, would you immediately buy on the open? Or do you give it awhile to see what direction it is taking before entering at a support point? And if it opens up lower than the previous close do you buy if it then fills the gap and starts going positive for the day? Sorry about the length but I have never been quite sure about this topic and I hear it a lot. Keep up the good work I love your blog and have learned a lot from it. It is one of my daily reads.

    1. The longer it hangs out here, the less short-biased. Maybe I’d short still on red, definitely on a break below 4. But I am not excited about shorting a stock that is consolidating.

  2. I too am not excited about shorting NLST….unfourtantly I am still short since 4.70. My current plan is to cover if it breaks 6.05 and call it a bad trade…otherwise it may still play nicely and die like it should.

    I am certainly hoping for the later.

    I am currently “falling back” and regrouping myself mentally due to this trade. This is the second one lately that I have been disappointed with my handling of it. This is going to stop.

    I am looking at 3 different prop firms (bright trading, jk trading and Cy Group) — if anybody has any thoughts or experiece I would *seriously* appriciate it!

    GL today —

    –Lucid – (Mostly…)

    1. It usually helps to exit a trade before recovering from it. Considering how long you’ve held onto this I think we will have to start calling you “BarelyLucid”.

  3. wow, like Michael told me once; Somebody needs to learn to cut losses quickly.
    Needless to say I have been there so I feel your pain.
    Quit letting bad trades turn into even worse investments where hope really kicks in.
    Goodluck on this one.

  4. Made a nice easy $400 going long NLST twice, both times on 800 shares.

    BOT 800 NLST false Stock (NMS) 6.3500 USD SMART 09:30:14 4.00
    + SLD 800 NLST false Stock (NMS) 6.500 USD SMART 09:30:43 4.00
    BOT 800 NLST false Stock (NMS) 6.3700 USD SMART 09:32:13 4.00
    + SLD 800 NLST false Stock (NMS) 6.740 USD SMART 09:35:13 4.00

    1. Purely for momentum … 95% of the time I don’t care about the companies I’m trading. Also, my watchlist is only watches. It doesn’t mean I’m going to buy or short the stocks that are on there.

  5. wow….that was fast and painful! — I managed to go flat @ a average of 6.60 for a total loss of 7,700 in 3 days. I am now faling back, regrouping and taking stock of the lessons learned on this one. I was obviously trading over my comfort level. I stopped it before it got bad enough to not recover from however. Thanks for the kind words. I am not going anywhere…just gonna not trade until I have gotten my emotions under control from this one. Then start back small and with the basics again.

    –Lucid (maybe)

  6. Whoa, hate to hear that.
    I tried several months ago trading with large sums of money, I was using 20k in my account and using margin. I can safely say now that I trade with 2 to 5k and do not have a problem with it, meaning I don’t worry that I’m not trading large enough. I plan on going larger after the first if I tihnk I can handle it, it has been very helpful for me to start over here with a new strategy.
    I use to think I would be whimpy if I couldn’t trade with huge sums of money, that’s not true. You can really get on the wrong track and make bad mistakes and never recover from it mentally.

  7. Thanks Preston;

    Everybody says that in this busines its you against everybody and in a sense they are right. However, I have certainly appriciated the support and help from boards like this and some of the chat rooms I am in. I am going to do this for a living and in order to do that I need to manage my risk much better. So far now back to basics and small positions to rebuild both capital and confidence.

    –Lucid (More than this morning…)

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