KICKERS

Traded 2 Kickers today.  I have not had very much success with these patterns.  Next attempt will be entry @ the open, and hold for the day (or give more room for trade to develop).  I let both trades develop, and entered at the break of HOD.  SOLR shook me out, as it went on to print $14.00, and DRYS never really went anywhere.

I let SOLR develop and come back to break the HOD.  Entry @ 12.86 with stop at a break of the low of day, which was hit (12.64).  I thought about re-entering the trade at a break of $13.00, but the market was too choppy.

 

I let DRYS develop as it retraced, and came back to break HOD.  I entered at $4.20, with a stop @ $4.08.  Targets are $4.40, $4.50, $4.60. Still holding full position.

 

1st Trading Day of the Month

The first trading day of the month is an up day 75% of the time.  The first day of the month also accounts for greater gains than the remaining days of the month combined.  Reasons include a fresh start as the calendar turns, 401K money being invested.  Trading ideas include:  DDM (DOW 30), SSO (S&P), QLD (NASDAQ), FAS (FINANCIAL), TNA (SMALL CAP)- all 2x ETFs.

Below is a chart of the first trading day of every month since September 1997 for the DJIA.

NO EXCUSES

 "Do you know why people settle for less? They get comfortable and are satisfied with what they have. For some, thats ok. More power to ya, average guy. Not for me."
Speero, YGT

NO EXCUSES

Posted by

Mike Bellafiore, SMB

Black Candle Upper BB play

Strategy by: John Lee

ACOR, Friday May 20th, 2011

Gap up above upper BB on daily, and faded all day.  Found support at upper BB on daily chart.  Break of consolidation base was the signal for an entry.  Scalping strategy, 1% start exiting position (1/2).  Great risk/reward

Everyday you must master your craft (Ray Lewis talks to traders)

Apr 27th, 2011 | By smbcapital | Category: General Comments, Mike Bellafiore's (Bella's) Blogs

Ray Lewis was talking to some football players but could have been talking to a bunch of traders.  Take some time and watch this video.  You are gonna want to get up and tackle someone on your desk afterwards (I advise against this).

Some of my favorite parts that are so applicable to trading:

1. “How much time are you wasting?”

2. “Everyday of my life I am trying to find a different way to get better.”

3. “I am training for a lifestyle.”

4. “Every single day you have to master your craft.”

5. “Harsh reality 1% make it.”

6. “Greatness is a lot of small things done well.”

7. “All I have is my work ethic.”

8. “Don’t every let a day go by that you waste.”

Trying to figure out what I am missing

USAT was the only trade I took today.  I followed 5 stocks, looking for the right setup, and thought that I found it in USAT.  It broke out quickly in the morning, setting a high of $2.72, $0.03 below the 52 week high.  Watched the volume start coming in mid afternoon, and the stock start catching momentum.  My plan was to enter the trade once it broke above the 52 week high.  Entered the trade @ $2.76, and the stock quickly reversed.  I believed there was good support at $2.65, and set my stop @ @2.64.  Wicked out, and the stock reversed, closing just above my entry, near the HOD.

This is becoming a repeating scenario in my trading... Have to fix this...

 

traderstewie

You ever sit on a crappy trade, a losing a position, giving you anxiety, clouding your mind. You can't take new better trades cause you're emotionally attached to this damned trade. All of the sudden, you man up and sell it!! What happens?? LIBERATION feeling! Now,you can really on focus making money!!