I cannot say with any solid reasoning why I continue to attempt swing trades in the current environment. I like swing trades because by their very nature they take time to play out allowing me to go about my day and perform other professional duties. For some reason, my swing is off. I feel like Rannulph Junuh over here, each time I step up to the tee.
There comes a time in your life where you have to take a hard look at your weaknesses and build blockades to protect yourself. I need to stop buying momentum stocks based on my longer timeframe ideas because the longer timeframe is in balance. That means churn and noise will stop me out of most of my positions, which is exactly what is happening. Today I stopped out of Facebook, Google, Webio, and First Solar. They took out my stops and the Nasdaq slid into a price zone I have no desire to lean against. Here were are, the week nearly wrapped up and I am again on the wrong end of the p&l.
It is time to strategize elsewhere. I am taking my business to the futures starting next month. Until then, I will be in simulation and managing what swing positions and “investments” I have left.
Current book, which will undoubtedly sit idle if the market trades up and knife lower if the market trades flat-to-downward:
Cash 70%
TWTR 10%
LO 10%
AIXG 5%
CREE June $47.50 calls
GRNH small side bet
Dead May calls in ANGI and RGLD
I can manage the CREE position fairly easily as the 30 minute consolidates to a point. If recent lows give way, I am out. TWTR will likely knife lower and I will add to it. LO is starting to worry me, especially after yesterday’s little flash crash. I may cut it too. AIXG needs to hold fourteen and a quarter or boot.
I am clearing my mind to start swinging at the futures. I have fortified the action, knowledge, and devotion needed to take my futures trading back to live. A bit more testing of all the moving parts in a simulated environment and then I will set forth on my quest to find my authentic methodology.
If I did not love this process so much, then I would pack up my bags and go back to busting concrete. It is time for the market to start paying me back. Slowly, then all at once…just how I like it.
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