All posts tagged WYNN


Today was a wonderful example of why I need to automate my trades. While I thought I would be able to monitor the market for the afternoon (not always my favorite thing to do on a Friday), I had a surprise at my job and ended up working much longer than expected. If I can get my cash to work for me, then how long I stay at work would be less important.

As I explore the automation of my trades, I recognize how I have built systems in other areas of my life. Repeated processes are streamlined. Over twenty years ago, someone described my driving as “efficient,” and it’s a word that I’ve found applies in many areas of my life. If there is something I can do to keep from doing the same boring process over and over again, then I take steps to minimize the time I spend on the task. It should be no surprise then that I’m looking to do the same thing for trading. It’s a part of my personality that I need to respect.

Trading requires not just knowledge about the markets, brokers, and platforms, but self-knowledge. This is why buying systems from others does not usually work. Trading systems need to fit the personality of the trader, or there will be constant battles going on between the trader and the system. By recognizing that I am inclined to automate areas of my life, my drive to automate my trades is recognized and becomes easier to implement. Now I just need to settle upon the best software available to me now.

Swing Trades

Six new trades were opened today with the double position in WYNN getting stopped out (-.97R total). I had set a stop and reverse as an intraday play yesterday, but did not keep the stop and reverse overnight.

Currently holding 13 open positions showing a total of +2.44R

Short: XES.

*Update from 6/18, I overlooked that AEM also closed out for +.31R.

Swing Trades

Two trades closed today. WYNN closed for a 1R loss, but MRCY was closed at +7.82R!

Four swing positions were opened out of six trades framed for possible execution today. The only ones that were filled were those that were market buys at the open. That brings the current portfolio to 28 positions showing -.16R.

Long: AA(2), AAPL, EEM(2), EQR, EWG, ILF(2), INTC(2), KR, LRCX(2), NKE, RL(2), SBUX(2), XLF, XRT.

Day Trades

It finally happened.

I knew that once I started reporting my trades here, I would eventually have a loss greater than 1R to report. I missed the initial short today, so tried to pick the bottom. I ended up with two positions long and was not able to reverse quick enough because it has not been my practice to place my orders ahead of time. The market dropped through my reversal point and with the fills I received, those opening longs were closed at -1.96R and -1.56R.

I was not happy with this, but continued to trade, eventually placing 27 trades today and achieving a +1.53R return. The volatility of the market and those first two trades left me on edge, so I played more hit and run, grab what I can, and get out. I had to reverse directions three other times. One of those was potentially premature because of the morning experience, but I was keen on not repeating my earlier mistakes.

I expect to write another post about picking bottoms soon because that was one of my ah-ha moments from reading Market Mind Games by Denise Shull.