Saturday, January 8, 2011

01/07/11: Day Trading Review: DO, LVS, TZA, RIG

Analysis: I wasn't watching the market the whole day and actually left with 2 hours in the trading day because I wasn't feeling good and didn't want to get chopped up into a Fri close. All in all today was a chopfest with the cleanest moves at the open & what looked like a short push into the close. Because of these market dynamics I'm glad I resisted trading midday and didn't get chopped up but I missed the clean opportunities into the close.

I was a little disappointed that I missed the BIDU 106 B/O trade which @openminded called out & prodded the twitter stream to take. Missed a quick scalp there but the choppy action early on left a sour taste and made me real hesitant to trade unless there was an excellent R/R.


Winning percentage: 75%
ROI on Winners: 77.68
ROI on Losers: 21
ROI W/L: 3.70

Things to work on

1. More dedicated focus on market
2. Reasons to buy and sell (i.e. 20EMA violation)
3. More preparation 
4. Better entries & exits
5. Patience

TZA: Excellent trade here, was intended to hedge against a SPY sell-off and worked from the beginning, sold sum when the momo slowed but still held a core for a larger move and exited when it brok the 20EMA.

RIG: Good discipline. Was playing a bounce and was only willing to hold if that 70c level held and hit out appropriately when it broke probably could have tightened stop to 69c instead of 67c

LVS: No real reason to sell when I did, should have held at least until the 20EMA was broken or it lost the TL

DO: Not a bad trade here. Exited when it broke below the 20EMA & failed to hold VWAP. Just traded within a range for remainder of day. Will look to re-enter on Monday for continuation post GS upgrade.

*Sorry for any grammatical errors or proper English issues. This is meant more to be stream of consciousness and unfortunately I don't have time to refine drafts.


  1. this is so full of win.

  2. Nice post. I especially like the mention of that guy who called out BIDU. LOL. I missed trade on LVS and should have been all over it. It was one of these things were you are watching and just dont pull the trigger and before you know it is is gone. One thing I struggle with also as you mentioned is not trusting the market. Volume is one that can help greatly wit that. Since you have quote tracker you could have seen that LVS was doing higher avg daily vol which adds to conviction in holding in the direction of the trend.

  3. ThanX openminded for the call-out & live BIDU prodding. Rethinking this trade could have probably taken 100-200 shares as I did indeed see the volume push. Was a little too overprotected of my earlier gains. thanX man!