Completely sold longs:
AMED 44.73 ( +14.25% bought at 39.15. Reason for buying the Medical dip. )
FUQI 24.67 ( +11.73% bought at 22.08 . Reason for buying this sexy breakout stock. )
SPWRA 32.27 ( -3.3% bought at 33.34. Reason for buying solar.)
I made all these trades this week. That’s get in, get out, get money. This week was all about playing the light volume rallies against the bears. I got a nice pop in my bullish sector stocks FUQI (china) and AMED (medical). This puts my exposure heavier on the short side.
I dumped SPWRA after seeing what happened to solars earlier today. I expected a quick follow-through heading into the weekend, but didn’t get it.
My intention is trade lightly for another month because I just don’t like this market. So, I’m hoping to use July’s closed trades to explain a little more about my swing trading style. So I’ll probably be doing more “why I entered here, why I exited here, why I was smart, why I was stupid” kind of analysis in my next few posts. Hopefully you can learn something, if not, well, go eat a burrito. I have no idea what that means.
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Great trading, Gio! Admittedly, I’m biased because you’re on The Rock here like me. But I like your style, and who can argue with your success?
I’m still struggling with time difference issues with us here (HST) and the market there (EST). I asked you how you handle that before, and you said that you don’t wake up super early or anything – correct? I still find it hard to believe, though, that a successful pro trader can afford to miss the first couple of hours of pre-market and open.
Hi OpihiMan!
Well, first of all the time issue is a + and a – …
If I were to day-trade, then I would get up about 3am. But recently the market hasn’t been giving me enough intraday volatility (well, there are some days, but not like Fall 2008). Therefore, I don’t see any value of getting up just to trade. In fact, the only times (or best times) you should day-trade are the first 30 mins or the last hour. another big reason why I have cut back on intraday trading is personal reasons- I think when I lost a friend in death I lost the advantage of being emotionally stable blah blah blah. i still do it once in a while, but right now the money is on the swing side.
The + side of living in Hawaii is that we have more after-hours time to setup trades. For example, I get to read everyone’s blogs and their setups which helps me with my position. this is a big advantage for swing trading.
So, I guess what I’m saying is wherever you live, you’ll have some external strength or weakness. but whatever, we live in hawaii so get outside and get some sun!
I appreciate the your thoughtful, helpful response. Though I’d have to semi-counter by pointing to CA’s (and others on IBC) success day-trading in the current environment — but then again, his trading style may not necessarily be yours or mine.
I think I’ve been using the time difference thing as an excuse for not first trying to make the best of it. You have been a role model in that respect, and again, your results speak for themselves. Another angle might be to play other markets, but there are complications associated with that. (Although I’ve always wondered whether TA might “work” better in “younger” markets vs. here, where everyone is so on to the game already. Maybe that’s an underestimation of the other markets, though.)
Surf’s up! Hope you catch some fun ones. A little windy, but gotta get it while it’s here. (I’ll try to do some chart homework too, haha.)
have a good weekend yall
… back from vacation. i take so many of them lately. LOL. I’ll post some pics. I only went to the other side of the island. that’s another advantage of living in a vacation destination state.
I took a mini vacation myself, did some wakeboarding.
I have now mastered the “face plant”.
Welcome back.