S&P lost 4% today. For a die hard trader like you and me, there is no such a thing as a bad or good market. There is only the right direction and the wrong direction. The general market has been trending low since the late 2007. This is the big picture I remind myself everyday before I start trading. So I am biased toward the short side. Everyday, I try to have 70% shorts and 30% longs. I try very hard to open short positions. But sometimes, the concept of investing creeps into me. I would end up having too many longs, which is a huge mistake for now.
When I turned on my computer around 8 AM, I saw the S&P future index pointed sharply lower. I realized that we would have a very weak opening. Plus yesterdays rally was too big and too fast for no apparent reasons. But a sucker rally could continue for a few days. So I was cautiously biased toward short and vigilantly watched long. My game plan was 60% short and 40% long.
I am up 78 dollars. I am a very small trader. So it is my goal to make 50 dollars per day consistently. Here are 2 of the stocks I traded today. I had a few other small losers.
Long RIMM( one 3% winner and one 1.2% loser). Short BIDU( 2 4% winners and 3 2% losers)
15 consecutive profitable months is hard to believe,right? Check out "My Portfolio".
Do you like my consistency? Would you like to receive the latest trading ideas or other updates from my blog?
Then join hundreds of others on my mailing list below. It is totally free and easy to opt-out.
Loading ...