Stepped Away-Back in it!

I have not able to flow smoothly in this trading zone. The market feels very shakey and very unstable to me, so I walked away from it for a few weeks and simply read and studied. This is what i needed to do. I am determined not to lose my basket again. It is still in tact and has about 30% more money in it than what I started, so I am happy about that.

The advantage of being a position trader is, we are rarely in a trade for more than 72 hours on a good trade (well for me anyway). I have decided to take that approach to a different level. I have come to the realization that staying in a trade over 5 or 6 market hours can be dangerous- right now. Overnight trades are just crazy to me. I am taking an approach of only trading off small charts and looking for FP trades. If I do not see them, I am not trading. I think I can find the time to take a peak at my charts every 21-34 minutes.

I bought 3 contracts of FFIV-Nov 12 95 Puts AT ABOUT 10:25. If you look on the 21, you will see that the candles blasted outside the top bolinger bands. Good crosses on the 34 also. The broad market was showing weakness, and I did not see enough positive news that would run this stock price up much higher. I waited for the broad and NAS to lose more steam, and watched for the MACD and candles to turn over. At 10:25, I placed the trade. It clearly started to move back inside the bolinger bands. For me, I had every reason to hold onto the trade for most of the day- although it made a little turn up. The DOW continued to creep down, along with most stocks. I just sold at 3:00 for a $600 profit (REAL MONEY!!!!).

I know 5-10 is the baseline, but 2 or 3 work for me, if they are good profitable trades. This was my first one for this month. I will only trade if it is staring me in the face.

Rookie

Great trade. I've been away as well.

My significant other has had major surgery and needs some care.

We watched BIDU Nov 13th on lap top and did a virtual trade together. Got in on the 55 chart right at the open because candle was right on the bollinger band which is a good sign for more downward pressure. Stayed in until around 3:00 and cleared over $3,000.00 on trade. Could have stayed in trade one more day but Nov. 13 candle hit near the 52 week low on daily chart. Usually what happens is stock then has a pull back. So my thought was it is possible for a bounce up....which BIDU did on the 3:44 candle (see 34 chart) but I was already out of virtual trade.

Anyway time devoted to trading is reduced at present at least until possible first of year when my other half is able to move.

Great trades. Did you all use any action charts or just jumped into the trade based on the other signals? Keep it up!

Days like today makes trading all worth it. I bought 2 contract of Apple today. I nearly doubled my money! Real Money. Since I watch Apple everyday, I know when it is going to run up or down very aggressively. understand, I am not being cocky. There are clear signs that point to strong movement in some stocks. This one is pretty easy from that standpoint. I will most likely watch it tomorrow. My profit was as much as I have made in 2 months, so I can be pateint.

Apple has been so unpredictable, but today it never stopped going up. I had to jump in and buy high. I rode it up $24!!!! I sold at about 3:50PM. I will probably never have another trade like that. The best trade of my life. Greedy thoughts are trying to take over, but I will remember what Gary said, " We do not get rich off one trade. Trading is for a lifetime. Take the chunk in the middle and say, Thank you very much!

rookie30 Wrote:
-------------------------------------------------------
> Days like today makes trading all worth it. I
> bought 2 contract of Apple today. I nearly doubled
> my money! Real Money. Since I watch Apple
> everyday, I know when it is going to run up or
> down very aggressively. understand, I am not
> being cocky. There are clear signs that point to
> strong movement in some stocks. This one is
> pretty easy from that standpoint. I will most
> likely watch it tomorrow. My profit was as much as
> I have made in 2 months, so I can be pateint.
>
> Apple has been so unpredictable, but today it
> never stopped going up. I had to jump in and buy
> high. I rode it up $24!!!! I sold at about
> 3:50PM. I will probably never have another trade
> like that. The best trade of my life. Greedy
> thoughts are trying to take over, but I will
> remember what Gary said, " We do not get rich off
> one trade. Trading is for a lifetime. Take the
> chunk in the middle and say, Thank you very much!

Awesome!!! Congrats.