Digging into Some Great Trade Ideas

I’m sorry for missing yesterday. 8 yards of mulch was delivered and I had to get to it right after the close. Anyway, unless you watched the video I had a pretty interesting day of testing FOMO. I was able to end the day on the green side but I was going way overboard. I was trying to take TSLA trades all day and it was a lesson on what not to do.

For now, let me focus on today. It was a pretty cruddy day for trading but it was a great trading day. My mentor had a live session from 8:30 – 4:00. He is a really interesting trader with tons of insight. He has a chip on his shoulder and loves to help other traders. No matter where you are in your cycle of making it he will help. You have to be willing to put in the work.

Most of my trades were based on the things spoken about in this session. My one goal today was to take at least one pullback play. Let’s get to the trades.

Trades Taken

I traded AMC at the break of the $4.00 level and it needed the wiggle room that I didn’t want to give. This was definitely a trade missed today. I took a small loss. It ended up running all the way up to 4.75 at on point. Lesson. I need to let trades work themselves out and give a little room. It’s okay to take a loss but don’t tap out too soon because you are scared.

AMC Profit and Loss = $13.16

The next trade was on the morning watch-list. TROV was setting up on an early opening break out. Being a small priced stock I was able to take this with 500 shares. I got a nice little pop and came out a winner.

TROV Profit and Loss = $35.00

KSS was the pullback play I chose to trade based on my daily goal. It set up pretty nice. I was able to take it in the buy zone moving through a whole number flush. It made perfect sense to me and I took it small for 100 shares. It ended up moving .30 max in my favor but I had already banged out of the trade. I took a small winner.

KSS Profit and Loss = $6.25

When it came to OXY I knew this was a heavy trader and wouldn’t move that fast. In fact, soon after I got in, I knew it wasn’t going to move that much so I got out pretty quick and started to look for something else.

OXY Profit and Loss = $6.00

I tried trading OSTK again today and this time I got a winner. I rode the nice pop it made which happened to be the high of the day. I took small share size. A green trade on this one.

OSTK Profit and Loss = $16.00

The group and I were watching HOG for about an hour before we entered. I was told it will need some wiggle and what did I do, I got scared and closed it soon after it didn’t take out one of my sell limit orders. If I stayed in it would have gone against me about .17. It did end up running back up .43. Lesson learned again on letting things work.

HOG Profit and Loss = $5.66

The final trade of the day was on CREX. Probably the biggest mover in the market. It received late news and took off. I was able to get in on a break of a pullback area for a nice gain. I could have gotten in several more times or held my original position. This thing was on fire.

CREX Profit and Loss = $45.82

This was a great day of learning and not to bad on the trading front. I got one part of my new trading platform setup and I’m really looking forward to trading that. It’s a bit heavy being that they use a .NET framework but I’m hoping it works out well. I’ll be back for more trades tomorrow.

Total Profit and Loss = $90.25