Monday, February 19, 2018

IWM tracking account update



IWM: Sold half Friday -holding half with stop below Fridays low and 60 minute 20sma - resistance at 155 and prior gap fill of 157  - Weekly chart on the left - Daily middle and 60 minute chart. With other half of account free will look for a day trade on gaping stocks below 20 with this account or wait for next Index setup - which will post if I see swing Index setup.



IRA ACCOUNT  WEEKLY TRADES UPDATE

                                   Current Trades and Closed Trades
Stock
Shares
Entry
Type
Result
Notes






IWM
75
145.18
Swing Trade

Stop now 152.29 – sold 75 at 153.50 for + 624


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: +2179
    •  SPY: Current 273.10November 27 260.40 with 77 shares (+12.7 = $977.90)
    • 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
    Trade Results
    Stock/Index
    Date Entered
    Type
    Result
    Notes
    IWM
    2/9/18
    Daily Swing
    +624
    Bought on pullback below with stop daily low – still holding 75 shares
    IWM
    2/9/18
    Day Trade
    +450
    Off Daily Support  - sold on pop
    SSO
    2/6/18
    Daily Swing
    +1670
    Double leverage eft of SPY
    QQQ
    2/6/18
    Day Trade
    +212
    5 minute high day trade
    Kodk
    1/22/18
    Weekly Swing
    -210

    ncs
    12/26
    Weekly Swing
    -110
    Using smaller risk size
    titn
    12/27
    Weekly Swing
    +150
    Using smaller risk size
    Cprx
    12/6
    Weekly Swing
    -155
    Using smaller risk size
    Gswtf
    12/4/17
    Weekly Swing
    -115
    smaller risk size & wide stop
    Mara
    11/28/17
    Weekly Swing
    -127
    Badly managed trade when up
    Pxs
    12/4/17
    Weekly Swing
    -210
    smaller risk size &wide stop


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