Monday, January 3, 2011

01/03/11: Day Trading Review

Important contextual note: Haven't day traded on Lightspeed for about a month or been used to watching level 2 so today was just a day to get back into the saddle & finish positive for the day. 

Analysis: The market gapped up and provided some excellent strong trends in the stocks I was in but unfortunately my anxiousness and lack of confidence caused me to miss the BIG ones in REE, AAPL & MCP. LVS was a scratch trade where I lost about .03¢ net in 3 quick trades.

Things to work on: 

1. Trades to hold on strong trending In Play stocks & trending markets
2. At least 5 days of solid gains to increase tier size
3. Keep ROI on winners positive & try to get a 3/1 RR & gradually work up to the ideal 5/1 RR goal. Today's was 2.13
4.  Try to stick with a small basket of In Play stocks & focus
5. Try to keep winning percentage greater than 50% and increase to 65% target. Today was 71% win rate 

Trades below (minus LVS scratch trade):





  1. Great post, I notice you're workin on holdin on to winners a little longer, have you tried setting a rule that when they shoot up (like aapl and mcp) that you only sell if they close below a MA (for instance you used the 20, both didn't give sell signs till later)

  2. Great rule! I do actually use that... but for these trades was just going off what I saw on level 2/prints

  3. Good to know, thanks for the explanation