Satuki @ Home

I tried to short STEC 5 times today.  The results were not so bad considering the super strong general market, which helped a lot to hold up STEC. STEC itself was weak.  A lot of other stocks went up 2-3 times as much as the general market.

As stated last night in STEC: Do we have a short here? I was shooting for a 3% move.   That was my plan.   I followed my plan like the Bible.  If you were tracking my trades today, you know that the first short moved down 1.5% right after the entry, the second moved down 2% right after the entry too.  These 2 entries were impeccable since they moved immediately after I opened them.  If we add them up, it would be a combined 3.5% profit and mission was accomplished.  I wish trading was that easy.LOL! I actually made 0 dollars out of those 2 trades.  I did not take profits in those 2 trades because my plan did not allow me to do that.  We all know what happens to traders with discipline issues. 

There was nothing special about the other 3 shorts.  They were not as good as the first 2 since they wiggled, wobbled and squirmed for quite a long time after I opened them.  You can see the timestamps of all my trades here. Please note they might be 30-45 seconds off since I need to set up my stop losses first, post them on my website and then on Stocktwits.

It was a very strong market today.  It should be slightly easier to trade on the long side.  Why slightly easier?  It was because the market gapped up way too much.  If you pull out the 5 min charts of a lot of stocks that went up today, you can easily see that most of them had one good move in the morning and stayed flat in the afternoon.  So trading really is an art.

Once again, do not forget to control your risk at all cost. Your trading is as good as your risk control. 

I hope you did well today.