Thursday, April 26, 2007

Today's Trade: JSDA and VDSI

I sold 500 shares of VDSI at $20.65 (entry at $17.63) for a $1510 gain (+17.2%). Check out my reasoning for entry here. It was the perfect accumulation and pullback to support play.

I was stopped out of my 400 share position in JSDA at $24.85 (entry at $26.41) for a $624 loss (-5.9%). This may sound crazy, but it actually is somewhat of a relief to take a loss, considering my last losing trade was March 21st, 24 trades ago.

While I've had a good win rate over the past year and a half (when everything started to click for me), I've never enjoyed a run like this. I attribute this run to one part picking the right setups and sectors, one part market conditions, one part improved psychology (most of it being patience and honoring stops) and one part luck.

I may take a few nibles in RIO, INFY, BLUD, TOL, AMZN (short) and CCOI later today.

I am still holding STLD, ZOLT, EWZ, PAAS, FUL and QID.


The Market Speculator said...

A quick note (I didn't have the time to do a formal post) that I am short 250 shares AMZN at $57.83. This is a risky play, this the small position size.

Anonymous said...

First of all, I would like to let you know that I enjoy your "Market Speculator" blog and find it very educational. After reading many of your posts, I noticed that you prefer not to micromanage your trades and sometimes only check the market a few times a session because of your day job. How do you enter and exit your trades? Do you use buy stops to enter positions or do you enter a position by buying when you get an opportunity to check the market?

Also, when you exit, do you enter a profit target order or just exit when you get around to checking the market and if the price is good you close the position? Trailing stop? Any tips you can suggest for swing trading the market and holding a day time job?

If your not to busy, and don't mind giving advice, please clarify your daily trading routine while working a full time job and the type of orders you typically place. Your blog readers may be interested to know too. Awsome trading the past month!

walter said...

nice streak - congrats.

also, what was the basis for your stop price in JDSA? i noticed that it was kinda in the middle of the first of the 3 kinda big white candles...