SLB

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Trade Report 5 June 2018

Posted by BMoreTrader on June 6, 2018
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Swing Trades

I framed no trades for possible entry today. One position hit it’s stop loss: SLB. With the weakness in the oil sector and other trades reaching their stop losses recently, I tightened up the stops on the remaining stocks in the same sector, and SLB closed today because of that. Total return for the double position: -.86R

There are now 16 open trades showing +8.88R:
Long: AXP, CRM, CSCO(2), DWDP, GILD, JPM, KR, MSFT, RIO, TWTR, XME.
Short: AA, EWW, IPG, XES.

Reflections

The trading signals I have been focused on recently buy pullbacks. When the market moves up strongly, it leaves few candidates for possible trades. While I’m sure there were opportunities in the market these past two days, none caught my eye sufficiently to frame up and trade. Today’s doji in the market (smaller range and close near the open), suggests to me that there are other people generally satisfied with their current portfolio. I could make a case for further strength and for further weakness. Tonight I will prepare a list of targets for trades, but I have no predisposition for which way the market will go tomorrow. I do have time to sit and watch the market, so am preparing to pounce on what decides to move tomorrow.

Trade Report 22 May 2018

Posted by BMoreTrader on May 23, 2018
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Swing Trades

I framed only one trade for possible execution today: adding a second position to PFE. It was filled shortly after the open. I have had several other projects taking the majority of my time the past few days, so I had no other trades to consider. PFE was framed because it is a current holding and looked ripe for a possible second position.

Two trades hit their stop losses today: CAT and SLB. Net return for the two trades: +2.33R.

This leaves the swing portfolio with 17 positions showing +.8R.
Long: AA(2), CBOE, CSCO, DIS, EWI(2), GILD, HD, IR, KR, MSFT, PFE(2), WYNN(2), XME.
Short: none.

Reflections

I have had no time to day trade this week. I expect to get a few peeks at what is going on during the next two days while the market is open, but will need to rely upon my stops to lock in profits and minimize losses. The market classification system I am currently studying encourages a cautious approach at this time, so I may have missed my opportunity to lock in profits on some of the positions today as they went against me.

Trade Report 20 April 2018

Posted by BMoreTrader on April 20, 2018
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Swing Trades

Today I framed four swing trade candidates. Because three were channel signals to buy at the open, those three fired. The fourth one never reached the target entry point.

Ten positions closed today for a total realized gain of +9.3R. Charts follow below. After a few of the oil sector plays hit their stops, I moved the stops up for the others. Continued weakness took those out, but EOG seems to have survived the day.

Currently holding 13 open positions at +4R.
Long: ABX, CBRE, GLD, EOG, LMT, LRCX, NKE, RL.
Short: HSY, NYT, BMY, MRCY, XLP.

Day Trades

Friday is the one day currently I can generally expect to have available to day trade. I missed some of the large moves while managing the swing portfolio, but that’s ok. I’m not expecting to capture every move, nor do I need to. I ended up making 24 day trades with a net +3.8R.

Thoughts

I am currently reading Market Mind Games by Denise Shull. While the book tries to present the information in the more digestible setting of a fable, the information is dense and requires some thought and time for integration. I had two a-ha moments while reading this morning before the market opened. the first had to do with fighting trends which I certainly did today, and for which I intend to write a separate post. The second is best shared by quoting directly from the book:

Now I am certain that part of the irresistible seduction of markets is not the money but the tapping into an innate human urge, desire, or force to grow. It strikes at the core of competitive and adaptive instincts and serves up for the taking any unconscious psychological set-ups one has.
Your pschye doesn’t actually care much about your account balance, it cares about your emotional capital because it is your most important asset regardless of whether you are in front of the screen or not.

I am certainly hooked on learning and growing, and if there is any reason I have stuck with trading for as long as I have it is because I recognize that slowly but surely, it is helping me to confront my issues and become a better person. Trading is a psychological discipline that requires a certain amount of knowledge, but depends extensively on the amount of presence and awareness one can bring to the market. Not just awareness of the market, but also self-awareness. Anger, frustration, joy, or even the weather can affect a person’s view of the market and thus influence the account balance.

As I continue to make these trade journal entries, I expect to also start adding notes about my mental states and feelings. As I reported on 18 April, having decent overall results while aware of not so great emotions is to be celebrated. Which are the emotions that I can trade with, and which ones are strong enough that my account balance will be better served by not trading?