Friday, February 11, 2011
Thursday, February 10, 2011
Monday, February 7, 2011
Thursday, February 3, 2011
The REAL Happy New Years - Chinese Style
Yesterday was one EPIC day for me. I managed to nailed $ICGN and raked in nearly $5,000 on the trade. Transaction below:
See this is what technicians do, we read charts and we expose ourselves to the highest probability setups. However, I made a giant rookie mistake yesterday right before the close. I bought THQI into the close simple because I thought it was a beautiful breakout trade. What I did not realize was that they had earnings coming out afterhours and the stock tanked nearly 10% which set me back a good $1,500. Transaction below:
So please always, always check for earnings date, FDA approval date, or any major news that might change the course of the stock overnight and be sure to avoid them if your trade was solely a technical analysis.
BUT WAIT!! THE STORY IS NOT OVER YET: Like I said before, "You are not your losing trades."
I will manage to make back those losses soon, in fact, I think I already broke even in premarket hours, You know why? No, it was not from stock trading. It was from something more Gangster, RED ENVELOPES.
For those of you who do not know what, RED ENVELOPES are. Let me give you a wikipedia crash course.
"Red envelopes are mainly presented at social and family gatherings such as weddings or on holidays such as the Lunar New Year. The red color of the envelope symbolizes good luck and is supposed to ward off evil spirits. The act of requesting for red packets is normally called (Mandarin): Hóng Bāo , (Cantonese): Lai See. A married person would not turn down such request as it would mean that he or she would be "out of luck" in the new year. In keeping with Chinese customs, newly wedded couples are also usually expected to be extremely generous with the amount offered in the red packets, so as to receive blessings for a blissful marriage."
Yesterday, after a delicious Chinese New years eve dinner (No, We did not had any cats or dogs. Stop being so Fuc$@%@# racist). Our relatives did what all our cousins been anticipating for the whole night. We were all waiting for the red envelopes. To sum it up, picture below:
So if you don't have any Chinese friends, GO MAKE ONE. I wish everyone a Happy Chinese New Year. To all my followers, I will promise you to post more Epic trading ideas. Trade Em Well everyone. Make it a great year of the rabbits. Peace. Check out your 2011 Chinese Zodiac forecast here (How accurate are they? Beats me, take it with a grain of salt):
Wednesday, February 2, 2011
Tuesday, February 1, 2011
Trading ideas for Febuary 1, 2011
URG
SSN
Trading ideas: SODA EEE MOBI LNG MNI
================================================================
SODA
EEE
MNI
LNG
MOBI
Saturday, January 29, 2011
You are not your losing trades
"Your losing trades do not diminish you as a person. You are not your losing trades. You are also not your winning trades either. They are simply by-products of the business that you're in."
I was so confident that CCME would continue higher on 1/28/2011. So I bought the stock near the close at $23.00 on 1/27/2011 and held overnight. The stock DID spike higher the next day. However, I was in a sleeping beauty mode and did not get a chance to take profit before the stock came crashing down. Hence, I turned a 1k profit trade into 2k losses. Below is the transaction:
5mins intraday chart:
I opened my platform and saw my account was down -$2,000 on my CCME position. Instead of spending my time crying about it, getting angry, frustrated and thinking about should have wake up early, could have set alarm clock, would have made 1k this morning...etc I clicked the sell button immediately and made a FFFFFUUU Comic then eventually move on looking for my next opportunity. Which leads to my ARAY trade, a nearly +$1,500 trade. Below is the transaction:
5mins intraday chart:
This is what we call accepting the RISK in trading. Unfortunately, I was unable to fully recover my losses of the day, but that's not my point. What was important is that my losing trade did not cause me to lose my self control, confidence, discipline and focus.
Many traders would define their risk(stop loss) and profit potential then place in a trade. However, when things did not turn out the way they wanted to be. Instead of accepting their risk/cutting loss and move on for the next opportunity. They waste their time complaining about the trade then become frustrated, angry, and emotional. Now, not only did they lose money on the trade, they also loss something that is very important to all successful traders, attitude. Believe me, losing your attitude is way worse than losing your money in a trade because that's when you start revenge trading, over trading...etc which leads you into a deeper hole, end up losing more money. So PLEASE!! NEVER, EVER make such mistakes.
Here are my suggestions whenever you encounter a losing trade:
1) Obey our stop loss - Sell it immediately and move on to the next trade.
2) Walk away - go for a walk, watch some TV or go take a dump if you have to.
3) Never add to your losing trade - Adding to a losing position would usually end up in bigger losses.
Good Luck Trading everyone and have a great weekend.
I was so confident that CCME would continue higher on 1/28/2011. So I bought the stock near the close at $23.00 on 1/27/2011 and held overnight. The stock DID spike higher the next day. However, I was in a sleeping beauty mode and did not get a chance to take profit before the stock came crashing down. Hence, I turned a 1k profit trade into 2k losses. Below is the transaction:
5mins intraday chart:
I opened my platform and saw my account was down -$2,000 on my CCME position. Instead of spending my time crying about it, getting angry, frustrated and thinking about should have wake up early, could have set alarm clock, would have made 1k this morning...etc I clicked the sell button immediately and made a FFFFFUUU Comic then eventually move on looking for my next opportunity. Which leads to my ARAY trade, a nearly +$1,500 trade. Below is the transaction:
5mins intraday chart:
This is what we call accepting the RISK in trading. Unfortunately, I was unable to fully recover my losses of the day, but that's not my point. What was important is that my losing trade did not cause me to lose my self control, confidence, discipline and focus.
Many traders would define their risk(stop loss) and profit potential then place in a trade. However, when things did not turn out the way they wanted to be. Instead of accepting their risk/cutting loss and move on for the next opportunity. They waste their time complaining about the trade then become frustrated, angry, and emotional. Now, not only did they lose money on the trade, they also loss something that is very important to all successful traders, attitude. Believe me, losing your attitude is way worse than losing your money in a trade because that's when you start revenge trading, over trading...etc which leads you into a deeper hole, end up losing more money. So PLEASE!! NEVER, EVER make such mistakes.
Here are my suggestions whenever you encounter a losing trade:
1) Obey our stop loss - Sell it immediately and move on to the next trade.
2) Walk away - go for a walk, watch some TV or go take a dump if you have to.
3) Never add to your losing trade - Adding to a losing position would usually end up in bigger losses.
Good Luck Trading everyone and have a great weekend.
Thursday, January 27, 2011
Trading ideas Jan 28, 2011
Alriight Traders.. It's not like I have anything new to say about my setups. Let's just say I LIKE EVERYTHING ABOVE RESISTANCE LINE ON VOLUME FOR A BREAKOUT TRADE. Enjoy! Peace!
QLTY
AXL
GRT
MAS
OZM
MNI
GSIT
VSH
KLIC
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