Sunday, February 25, 2018

SPY - tracking account update




 (weekly - Daily - 60 Minute chart)

SPXL is the 3x leveraged EFT that mirrors the SPY.  Looking for a close above resistance 47.38 (30 minute chart) for a run to 51.68. Stop below 46.10. Other option is a day trade  of  Gap and go on SPY index if gaps above 47.38 - Took a loss Friday after shorting the SPY with SPXS on a half size trade.

IRA ACCOUNT  WEEKLY TRADES UPDATE
Current Trades and Closed Trades: 

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: +2662
    •  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. SPXS - 2/22/18 - DS: -260 - half size entry loss
  2. IWM - 2/9/18 - DS: +1157
  3. IWM - 2/9/18 - DT: 450
  4. SSO - 2/6/18 - DS: +1670
  5. QQQ - 2/6/18 - DT: 212
  6. KODK -1/22/18 - WS:-210
  7. NCS - 12/26/17 - WS: -110
  8. TITN - 12/27/17 - WS: +150
  9. CPRX - 12/6/17 - WS: -155
  10. GSWTF - 12/4/17 - WS: -115
  11. MARA - 11/28/17 - WS: -127
  12. 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.

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