Sorry I didn't rip a video today, I was just so drained after my longest day in the business. Early in the day I had a bad string of losses, putting me down somewhere around $400 or so (AMX, CAT, DANG, DV, LO, ITMN) . The early trades were poorly timed and had bad risk-reward setups. I simply over-traded and got caught in the morning swings. Thankfully, I controlled my nominal risk overall, so it did not feel like too bad of a loss. I certainly did a fantastic job keeping emotions out of my trading today and sticking with my conviction of the trends I saw.
From there I caught the mid day sell-off in a few names (TSO, APOL, RIMM, WFC). I ended up grinding it out until late in the day because the trend was moving well in my favor. So going into the close I decided to leave one of my positions open. I am still short 400 shares of $TSO after covering 800 shares into the close. This is the first time I am holding a position over-night, but I am fairly confident in the trend. Also left small shorts (50 and 100 shares, or about 1/3 of the position traded) in $RIMM and $WFC (respectively). Overall, I broke even on the day. Also had a succesfull range play in $UTHR.
Today made me really look into trading SPY futures. I was reading the action in SPY so well all day that I could have, and probably should have, made twice as much by shorting $UPRO. I plan to try a few small trades in the SPY futures(ES_F) or even S&P E Mini contracts.
Thanks for being a part of Swing-High.com! Always trade with a stop loss and manage your risk appropriately.
ps. sorry for posting so late, I realize it is now technically Tuesday.