Tuesday, February 13, 2018

IRA Trading Account Update - IWM

Weekly - Daily - 60 minute charts of IWM -Goal is 150 - stop moved to under the 60 minute 20sma (red line) or low of yesterday (146.89). Still riding from Friday's entry and will look to sell half in the 150 area (current 148.48) and then follow up with 20sma of 60 minute. IWM bouncing nicely.





IRA ACCOUNT  WEEKLY TRADES UPDATE

                              Current Trades and Closed Trades
Stock
Shares
Entry
Type
Result
Notes





IWM
150
145.18
Swing Trade
See Notes above - trailing stop 146.89
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 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 $500 loss per day trade – will hold longer with an Index trade.
  • 1 set stop – sell half at 1R, stop to entry price.  Let remainder of shares run with stop under 9EMA and or 20ema with day trades.
  • Spy – shares at 20K price was 260.40 on 11/7/2017 – 77 shares total
  • Will update when trades are placed.
Account to Date with closed position’s vs SPY
  • Account positions closed: +1555
  •  SPY: Current 266.04 – November 27 260.40 with 77 shares ($+434)
  • 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 with a few over night plays on over sold index funds when they appear.
  • * Daily 1st Hour Trading Map Posted Daily before 9:30am Eastern Time
Trade Results
Stock
Type
Result
Notes
Cprx
Weekly swing
-155
Using smaller risk size for first 7 trades
Gswtf
Weekly swing
-115
Mara
Weekly swing
-127
Pxs
Weekly swing
-210
titn
Weekly swing
+150
ncs
Weekly swing
-110
Kodk
Weekly Swing
-210
QQQ
Day Trade
+212
5 minute high day trade
SSO
Daily swing
+1670
IWM
Day Trade
+450
Off Daily Support
IWM
Swing Trade
current



IRA Account Tracking UPDATE
  (Current Trades and results- click below)



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.

No comments:

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