Trades for 1/4/2016

My first day back trading in the new year. Wanted to take it slow, was top ticked stop out in CSIQ, but had a solid long in LEI for a short squeeze.

I was short biased CSIQ because they had a public offering that day and I thought the shares would be  diluted further, or at least get an opening flush. I am not happy with my first short, as it was a down tick on a gap down. I am not terribly unhappy with my adds. I added when it failed to break the opening price, then I added full size when it came back under vwap. My stop was HOD and I may have been stop hunted as you can see it hit it and turned. However, I had many chances to realize this this idea was not working and could have gotten out sooner. SPY was dumping and this held, another sign to get out. Good job holding to your stop, entering in pieces, but take off your loser sooner when it is not working. Also, may not use solid stops, as it did fade later, but not by much.

This was my winner on the day. Solid trade for the day 2 squeeze up as it ripped nearly 300% the previous day. I know there might be shorts in early so I waited for it to pop green and pull back. As it pulled i added in quarters all the way up, and wanted to hold as this is a low float and can really rip. I took a quarter off, then quickly added another. My average was high so quickly realized this was losing steam and took 3/4 off again. I then added when it pulled back to vwap and held. When we got a solid red bar I closed my position. It looks to be a smart move.

Goals for 2016

Network- In business and in life networking, who you know, the relationships you build is key. Trading is very lonesome, and I have lost touch with a few people. My goal is to grow my trading network, investing network, and friendship in 2016.

Patience- In everything. Life, relationships, but for this specific post, trading. Many times I find my self getting in early, and also holding winner not long enough. Need to enter in 1/4 or 1/5 and never add unless I am green, or in a better position. Holding winners just has to happen. Lately I have been holding my loser and winner for the exact same amount of time. Will never be able to become a true professional until I can hold my winner for max gain, and chuck my loser ASAP.

Emotional Capital- Know when you are trading on tilt, or revenge trading. It always happens when you lose more than you intended, then the downward spiral goes down. Never make up for anything with size, because that is not a good trade. You make up for mistake with good trades and maximizing winners. Will combat this with entering into positions in 1/4 or 1/5.

Make one good trade- Every trade is unique, and a trigger cannot be pulled until I have done the correct amount of HW. Stop trying to make money, the money comes. Make one good trade, and a good loser is a good trade.

Be Gracious- Not everyone gets to do this, this a privilege. So treat it as such, respect the market.

Breathe. Just breathe.

Handling losses- Trading is hard, you will get hot, and you will get cold, you MUST control the cold streaks. Handle your losers like a man. Keep them small, check them and forget about them.

Holding winner all day- you want to take positions off in the afternoon, not put too many on

Here are SMB resolutions- a great list to go through.

1. I will try to improve each day and stop trying to make money.
2. I will study my trading edge and build from my strengths.
3. I will improve my fitness as this impacts my trading PnL. 
4. I will be grateful each day for the privilege to trade.
5. I will save 10 percent of my trading for experimenting with new strategies with small size. 
6. I will work each day with technology that can improve my trading.
7. I will breathe 10 minutes daily. 
8. I will push myself to trade incrementally bigger each month with my trades where I have edge. 
9. I will surround myself with positive people who make me better.
10. One Good Trade, One Good Trade, One Good Trade.