Tuesday, December 18, 2007

LIVE trading journal for 12/18:Trading Plan

Well, this is the time of year when I usually just take it easy. Park my money into some strong trending stocks, drink and toast my self for being able to find these stocks and watch as my gains pile up.

Instead for this year, that tradition was broken up. I'm in for a tough fight, many small paper cuts (aka stop losses) and I've been bitch slapped by this market so much that I cannot tell if it's up or down. I've been keeping my position size small and stops wider. How else can you fight a freight train that goes forward and back so many times?

I've let go of all my long positions last week and picked up some inverse etf SKF SRS FXP EEV and PUT option contracts on the shippers (DRYS DSX).

I'm not looking to initiate heavy long positions but if opportunity arises, I might take on some daily swing trades ( 5-10 days ).

Trade well!


gary said...

happy holidays --and you can take cheer in the fact that a lot of folks like me appreciate the fact that you took time to share your success with us

Reese said...

Keep at it Pinoy. I'm in the same boat. I've been in a rut for a good two months now so I've had to scale back and take it easy. This market is not good for swing traders right now.

MC said...

Gary, thanks man. Enjoy your holiday.

Reese, take it easy also and don't forget to enjoy the holiday! The market will always be there. It's just giving us time to enjoy the opportunities and life.

ainkurn said...

this market trading range is really confusing me at the moment too. Hopefully early 2008 will be better.