put a mental trailing stop on the 5% i added today. kind of itchy to take the profit and run, but mkt continues to advance so be patient. up 13.40 at 2294. maybe see resistance at 2298, prior closing high. sold the 5%, gained .50 per. now back to 40%; mkt continues higher at 2295. first hour rule holds up, so i will let things happen for now without further trades. short is not where i would want to be.
My trading plan right now
Started by
lawdog
, Jan 15 2017 09:33 AM
711 replies to this topic
#72
lawdog
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Posted 03 February 2017 - 10:48 AM
i try to watch out for what i call "position bias," which is where i tend to look at indicators, lines, etc. with a eye toward confirming my current position. i try to prove my current analysis wrong, or look to see what could go wrong and what i must do if this or that goes wrong. so far today, nothing is wrong, at least for the vst, i.e. today. trend is strong, minor corrections along the way; nothing yet to motivate me to release any more of my position, but i felt this way on monday with my shorts and that trade was okay but but i ended getting out 10-12 points above the lows and some of my positions lost money because i added them in expectation of a stronger selloff. that is why i didn't want to hold that 5% i added today.
#73
lawdog
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Posted 03 February 2017 - 11:49 AM
bot back that 5%; 45% long now
#74
lawdog
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Posted 03 February 2017 - 01:48 PM
added 5% more; up to 55% of max leveraged position. Gaining confidence in this move.
#75
lawdog
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Posted 03 February 2017 - 03:29 PM
Sold back to 40% long on intraday trades added earlier. Then bot 1/2 of them back at lower price. I really believe in this move up and want to have a decent-sized position. I don't believe in cutting back over weekends. Monday openings are pretty random either way, so if I'm bullish, I don't want to be out. It can gap up as easily as down on Monday, and usually it's not a big deal.
#76
lawdog
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Posted 05 February 2017 - 01:46 PM
no reason to close my long position, based on weekend review. last monday i was hoping the decline would take hold, which it didn't. so who knows what tomorrow morning brings.
#77
lawdog
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Posted 06 February 2017 - 09:35 AM
added to long on open.
#78
lawdog
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Posted 06 February 2017 - 11:46 AM
sold the position i bot on open; small profit; was worth the effort, i guess; 21 cents a share.
#79
lawdog
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Posted 06 February 2017 - 11:51 AM
still hold 45% of fully long, all at 2x leverage, so it is still significant exposure. pretty much like watching paint dry right now.
#80
lawdog
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Posted 06 February 2017 - 12:13 PM
bot them back; up to 55% long
