Wednesday, October 31, 2007

LIVE trading journal for 10/31: Trade Plan

All I can say at this point is try to focus, plan the trades and stick to the plan. It's the very anticipated FED announcement which should greatly influence the price actions today.

There's a reason why those shippers cannot leave the docks for several days already and we found out yesterday. I must be very lucky or half smart to have unloaded some of my positions when DRYS EXM did not participate in the price thrust as expected of many leading stocks. The rest of the position were sold yesterday when it hit my trailing stops.

The rest of my positions in BIDU GOOG AAPL VMW RIMM WFR CHL AGU MOS are still intact going into today's possible shredder session.

Don't get your heads chopped of today.

4 comments:

Reese said...

Fed days are always scary when you have open swing positions. You can have a nice setup, make sure you're stops are in place and then the volatility of the Fed session causes your stock to stop you right out, only to have it turn around and jump right back up (assuming you're long). Have to keep a close eye on the price action today.

newequity said...

MC,
Take care of those positions and do not let fed speak spook ya alright.

The Market Speculator said...

Looking at your positions, the similarity in the stock we follow and trade is uncanny.

MC said...

reese,

I usually just put trailing stops on days like this.

newequity,

Thanks for the reminder.

the market speculator,

Thanks for visiting. You have a very informative blog. Momentum traders think alike?

-MC