One of my current postions

On the 23rd of August and also via Ibankcoin, I purchased CTRP. Once again, they are in and out and I'm still holding the bag. I do have rules, I just do not always follow them and sometimes my emotion override common sense based on all that I have read in books and on the Internet. On this transaction the only mistake that I feel that I made was being late into the trade. The second mistake I might make and based on the stock movment Friday, is moving that stoploss in pretty tight. I guess I would be more tolerant this time if I had entered on the breakout day between $14.92 and $15.43. I on the otherhand got in at $16.31, really small position and then again same day, at $16.71. So my stoploss is tight. Currently in the money with a 3% gain. 

 

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If your reading this for the first time and are even thinking about getting in, I would wait. I would wait for another pivot low and I would not purchase above $17.48 until we have that lower pivot. Right now it looks like there is more of a chance of profit taking, than another surge up.

Deck, successful trade and watch

Deck was another stock that I found through Ibankcoin and this turned out well for me. I do not remember their entry or exit, but once again I was behind them. As you can see on the chart, I entered after my first green count back line was broken and even though not shown, the downtrend was barely broken. I set my intial stoploss @ $44.33. Once Deck hit it's current high of $51.65, I moved my stoploss to $46.20. That put me in the money unless it opened prior to the markets opening below my entry point. For some reason that I do not completley remember, I moved that stoploss extremly close and took a profit at $49.75. I'm pretty sure it had to do with the markts sounding and looking negative and the second fact that the Fly had already closed his position. I'm happy with the profit. 

Now to me, it looks like Deck is creating a Bullflag, so it is in my watch list to re-purchase. I would like to see it fall a day or two further so my count back line for re-entry would move down below the current high. Right now, by my rules, I would need a breakout through $51.65 before I could buy. 

Diamond - DMND

Now to explain my entry / Exit and now why I want to re-enter.

Once again, I found this lead from Ibankcoin and it was selected by the Fly. I cannot take any credit in finding this stock, nor did I follow his entry and exit. I have my own rules, but he and his team are trained professionals and I'm still a dweeb learning the craft / discpline. If I read everthing correctly, Fly and his group purchased while the last consolidation started to break uphill, prior to my Count back line GREEN line that is one of my signals to buy. The second thing thing I would need to see is the downtrend line broken. Lastly is the price closing above the 50 day moving average in light blue. 

The Fly and Ibankcoin traders were selling their positions where I marked it, " I read about it here", and this is where I finally felt comfortable buying. So I was way behind their entrys and exits. The next day I purchased DMND at $20.36 and set a stoploss order @ $19.49 just in case I was terribly wrong. My position lasted just 24 hours and I was bounced out for a 6% loss. I think my stoploss was a little tight, but my tolerance, so my stoploss. I have enough problems with discipline now, to start worrying about stoploss being to tight. Now to part 2.

So seeing that DMND is now making higher highs and higher lows, I should have never set my stoploss so close and I should still own this stock. So come Monday as long as the markets are not tanking, I will likely re-purchase DMND and set my stop loss per the chart above. The last two trades that I used information from IBankCoin made me $132. Just another $227 to go in profit and I will join their membership. I feel if I'm reading and learning from their site then I should at least pay them for the services they provide. I guess you could say why not ride it for free? Well, I want to learn more so I can do this for me when I retire. I'm a big fan of ChessNwine on the same page, so I recommend reading. 

Took some profits.

I held my long position in the S&P500 for 78 days but I just got the feeling that things this week were doing more than just consolidating so I decided to go ahead and take my little profit. As with the S&P, I also held a position in the Small Cap for 53 days and even though I made just .30cents, I just wanted my capital back. I had watched these funds go in and out of profit so many times, I was exhuasted. 

To give credit where credit is due, I found this stock and or the timing to get in via www.ibankcoin.com. As they were buying and selling, I was just getting in and holding based on my entry signals that are required for me. That position was DECK. I also bought DMND based on that same observation and then my rules to get in, but did not make any money on the second. My timing was bad on DMND. 

Long time No Post.

Ok, my stock picking and playing skills have been a long hard road of success and some dreadful defeats. Those defeats can really put your total psyche into a tail spin. I have been so focused on my Retirement Account that in my opinion was affecting my stock picking and handling skills. So in July I basically put myself in a holding pattern. I decided that I spent so much time watching the S&P 500 and Small Cap that I might as well trade them. Well my first two plays worked out so bad that I put that on hold to. I think the downtime on watching any stocks at all and just watch my Retirement did me some good. So below you will see my damaged returnd for the year. It looks worse than it is, because if you see what I currently own and where they are, I'm working myself back to zero once again. One of these days I will iron this out.

I had no sales in July but I held UPRO for 72 days so far and I'm up $382.00. I am also still holding TNA for 47 days and I'm up $164.00. I made my first stock purchase in almost two months and I've own it 2 days and I'm up $253.00 and that is DECK. So I'm not that bad off but I also know that I can't count profit until I sell it. So this is a work in progress and I will never say never. I just have to find my sweet spot. I need to teach myself that taking a $50 profit is not a bad thing and sometimes I will do that waiting on that stock to run and it never does only to reverse to my stoploss.

Just remember folks, this is my play money that I will not cry over if I lose it but it would hurt my feelings. I'm still convinced that I can turn a profit on a regular bases in up and down markets, I just have to keep practicing. Below are my current holding as they show in my account at TD Ameritrade.

June is here and pow, what an opening day.

As of noon the markets are getting crushed with 1.7 to 2.4 percent down in several indexes. May was as bad if not worse than April. Me? I have not been that active as a trader because I was starting to get my lunch handed to me, so I took my medicine on 3 traders and moved on. I allowed myself to fall into that same stupid trap of believing that I was right and the market was wrong. I moved my stop loss orders from their positions and to give them more room. Then I moved them again and then I just turned them off. What a idiot. Those 3 trades cost me $700 bucks and one was a 31% loss. Come on man!

Ok, so here we are the beginning of June and scratched and clawed my way almost back to even as of today. Yes the markets are getting pounded, but I have finally found a comfortable way for me to make money when things get nasty. I follow the S&P500 and Small Cap as closely as possible so I thought, why not just trade it. So I did and my last 4 trades netted me $830, so I’m feeling a little better.

The moral of this story is, the market is always right and you must be disciplined. Come on man!!!!!

 

Tomorrow I sell

Tomorrow I sell all my losers and short the market. It’s been while since I have updated my stock account, but I haven’t forgotten it. I’m down for the year.