Wednesday, February 7, 2018

swing Account Update - SSO




SSO - which is a Double ETF of Spy  -after 3 days of strong selling, looking to catch a bounce - took high of 5 minute candle - Goal is the 114 area.



IRA ACCOUNT  WEEKLY TRADES

                                              Current Holds and Trades
Stock
Shares
Entry
Risk from
Entry
Current Stop
Total Closed
SSO
210
104.18

103.99
Will sell half at the open and trail stop – current +$1100
QQQ
100
157.62

Was 156.95
Sold 100 @ 159.75 plus $212







Day Trade Idea’s: Trade to your strength. My strength is Day trading - not swing trading – and will be day trading this account. 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, off my morning gap ideas when they appear and post when I take them.

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
  • Will Trade 3 longs trade per week off my morning Gap ideas - if a setup appears.
  • Will risk entire account on each trade – maximum risk of $500 loss per trade– will not hold over night
  • Will take maximum 3 Trades per week to stay under pattern day trader rule with account
  • 1 set stop – sell half at 1R, stop to entry price.  Let remainder of shares run with stop under 9EMA and or 20ema.
  • Will use the tracking model of a 20K account to be compared VS the SPY
  • Spy – shares at 20K price was 260.40 on 11/7/2017 – 77 shares total
  • Will be updated at the end of each trading week. 
Account to Date with closed position’s vs SPY
  • Account positions closed: -205  - 7 swing trades (will update all trades this weekend)
  •  SPY: Current 269.13 – November 27 260.40 +9.5 with 77 shares (+$713)
  • 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
Gapping Stocks to watch, Index Gap Fill Odds and Daily Flags to watch




WEEKLY SWING TRADE IDEAS UPDATE
  (Current holds and watch list posted each weekend - 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.

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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