SLV stop moved to $32.44. VMED Short stop limit @ $24.46. Target = $17 and Buy to Cover stop @ $25.13
sold SLV @ $33.09 for a .12 loss per share. Feels like slowly dying by 1000 paper cuts these last few weeks. At least no big losses and staying relatively flat in my acct (down ~1.1%) over last 3 weeks. On top of that the VMED trade (which so far is profitable) my broker only had limited shares to borrow for me to short. So I only have 0.48% of capital at risk on the trade instead of 1%.
VMED stop at $24.97 EUO long @ Stop Limit $18.21. Stop loss @ $17.89. SKF long @ Stop Limit $63.56. Stop loss @ $60.56.
EUO filled yesterday and stop at $17.89 but took 0.44% capital at risk only because of tight stop did not want to utilize all my capital on this trade. VMED BUY to COVER stop at B/E at $24.46. Still profitable....So Far... New trade LONG AET @ $23.89 with stop at $23.24 (1% at risk on this trade)
Sorry it was a typo. Long @ $39.89. Was up and then now down. Not looking strong at all anymore. So I closed it out. I cant catch a break here lately. I closed this position out early at $39.63. I have been waiting for the market to rotate down as we have been at what I would call MASSIVE resistance and so I have been reluctant to go long. I have taken most trades on the short side as they have come up. NOW I take a long and it looks good for about 1 hr. LOL Anyway, I am out and waiting a few hours to see what happens but short position starting to look better by the minute. Currently VMED short is only position at EUO and AET trades are liquidated...both for a loss. I have never had this many poor trades since trading my system,..but of course it has to happen when I start a journal. Such is life...
Ya; you have to ask yourself ,who is this guy Murphy and what in the world did I do to piss him off. It's a tough market. I'm impressed with the discipline.
Thanks. But I have been disciplined until today. I exited the AET because I got spooked a bit I must admit. Looking back now I may reenter as it has not given a sell signal. So other than that I have been disciplined. I will take a step back and reevaluate again....need to ccol off as I am down ~2.7% in 1 month and I have not had that kind of down month in quite some time. I know it seems very small and certainly not insurmountable but still bruises the ego a bit. I just keep thinking we are at such huge resistance and that we have to pull back at least a little. So I have stayed mostly out of the market since 1230 to now. If I had ignored my support and resistance lines I would be doing great. When I ignore them and buy into resistance that I think is "obvious" I get hammered so i said I would not do that and that is why I have been mostly leaning short. I have not taken any trades short when the indicators say to be long so I guess I have been disciplined there. Just look back at the SPY for the last 3 weeks. We have gap up then gap down from prior day close to next day open of market. then chop along with multiple whipsaws. Very narrow range too. My system depends on a range of consolidation NOT being this tight and not so many gaps. I know that we must break one way or the other soon.
You must do what you can to eliminate this. If you have positive expectancy in your system, you will make money. You can't win all the time (yes this is hard to accept), but you must remember there is almost always tomorrow, and the next trade.
I'm going to stick with my system,...did not like that I allowed myself to get spooked this morning. Got back in AET @ $40.13. Stop @ $39.24.