Wednesday, February 28, 2018

ECTY Day Trade - IRA tracking Account Update

Day trade on ECTY for the IRA tracking account (took on regular cash account as well) - For this tracking account I look to place day trades with stocks under 25 and this setup nicely for a solid win. Daily chart on the right, 60 minute chart and 5 minute chart with shaded pre-market action. Notice the 5 minute candle closed over the VWAP, 9and 20 ema. Could have taken more shares but limit my risk to 2% of the account.  Got out at 5.14 with entry 4.82 at 2000 shares. Monday took the Gap and Go day trade on SPXL (leveraged fund of the spy)
 
 
IRA ACCOUNT  WEEKLY TRADES UPDATE
Current Trades and Closed Trades: Closed SPXL on a gap and go on Monday and ECYT 5 minute gap and go
Account Rules: Model account started November 27, 2017 - will track for a year and compare account % vs S&P 500 (SPY) - focus on stocks under 50 and Index Funds- Will use the tracking model of a 20K IRA account to be compared VS the SPY
  • Will manage as an IRA account with 3 maximum day trades per week to stay under the pattern day trader rule for IRA accounts. Will take long trades only, day trades off my morning gap ideas and a few swing index trades and post for tracking.
  • Will risk entire account on each trade – maximum risk of 2% account loss per day trade – will hold longer/swing (overnight) with Index trades.
  • 1 set stop – sell half at 1R, stop to entry price.  Let remainder of shares run with stop under 9EMA and or 20ema with day trades.
  • Spy – shares at 20K price was 260.40 on 11/7/2017 – 77 shares total if bought
  • Will update when trades are placed.
Account to Date with closed position’s vs SPY
  • Account positions closed: +3532
    •  SPY: Current 274.71November 27 260.40 with 77 shares (+14.31 = $1101.87)
    • Mistakes: Jumped the gun early with rangy swing setups, but maintained discipline with a few losses – Key to trading is stick to what you are comfortable with  - that is day trading and being aggressive with swing trades (holding overnight) with over sold index funds at support when they appear.
·        * Daily 1st Hour Trading Map Posted Daily before 9:30am Eastern Time
Prior Trade Results (DS-Daily Swing, WS-Weekly Swing, DT-Day Trade)
  1.  ECYT - 2/28/18 - DT +620
  2. SPXL - 2/26/18 - DT: +250
  3. SPXS - 2/22/18 - DS: -260
  4. IWM - 2/9/18 - DS: +1157
  5. IWM - 2/9/18 - DT: 450
  6. SSO - 2/6/18 - DS: +1670
  7. QQQ - 2/6/18 - DT: 212
  8. KODK -1/22/18 - WS:-210
  9. NCS - 12/26/17 - WS: -110
  10. TITN - 12/27/17 - WS: +150
  11. CPRX - 12/6/17 - WS: -155
  12. GSWTF - 12/4/17 - WS: -115
  13. MARA - 11/28/17 - WS: -127
  14. PSX -  12/4/17 - WS: -210
IRA Tracking Account vs SPY Update
  (Current Trades and results- click below - vs S&P 500 Index)



TRADING PLANS 



* You don't have to trade everyday. If the conditions don't feel right or if you're unsure of the current days trading environment then PASS on the trade. Missed money is better than lost money.  Day trading and the stock market is not a "war" that you must win at all cost. Trading should be fun, wait for only the good setups. Follow your rules, stick to your stops, and know that everyday the market presents a new chess board.

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Disclaimer

I DO NOT MAKE RECOMMENDATIONS TO BUY OR SELL SECURITIES - I JUST POST TRADES I MAKE OR FIT THE RULES OF MY TRADING PLAN ON A DAILY BASIS. DO YOUR OWN DUE DILIGENCE - YOU ARE RESPONSIBLE FOR YOUR TRADES, INVESTMENTS, AND DECISIONS! ALL CHARTS COURTESY OF TRADESTATION, SCHWAb & TD AMERITRADE