It traded pretty tightly today. That’s a good sign I think! Should be an interesting day tomorrow.
It broke out past the $15 mark but failed to hold and broke back down past 15, but it’s been holding strong at around 14.80 – 14.90 and consolidating. The volume was lighter than average yesterday and closed about 1% higher than it opened, although it was down a bit from the previous day of trading. Today it’s been trading very tight with low volume again, which tells me people aren’t willing to sell yet and that is a good sign. I’m watching for it to break out of this tight pattern around the time it hits it’s 10 day moving average.
Still holding long 2737 shares, 20 OCT 10 15 calls and 35 OCT 10 16 calls.
Sep 132010
CIEN kissed $15 this morning and is holding support at about $14.70 today. My October $15 options have nearly tripled in price for a nice $1000 profit so far since last week when I bought them. It’s my first real foray (is that redundant?) into options trading, so I’m not sure what to do… Hold the options and hope for more profits, or sell and take what I’ve made so far?
May 072010
I’m completely in cash now… The market is starting a big correction and this is the time to look for stocks building bases. They will be the ones to break out first when the correction starts to turn. Keeping an eye out for stocks that are still gaining or trading tightly during this downturn and putting them on watch.
May 052010
Time to protect profits and get to cash. Adjusting stop losses to 3% of buy price instead of 8%.
Apr 112010
I’m transferring $500 into my thinkorswim account to do some swing trading while I wait for my 401k plans to be rolled into my thinkorswim IRA.
VIT closed just over the buy point of 23.85 on Friday at 24.33 with very strong volume.
DBRN is still pushing strong and closing at new highs – it’s almost 4% above it’s last buy point so it’s almost too extended to buy. I won’t buy if it’s more than 5% past a buy point.
The rest of the watchlist closed the week in their tight pattern so we’ll see what happens next week.
I initiated a withdrawal of $3300 from my Worldwide Trading Capital account last week and I got the wire today. It took about 5 business days total – 3 for my transactions to settle and 2 for them to process the wire transfer. So far I’ve been very happy with their service.
I deposited my $5,000 risk capital to WTC on Friday afternoon. I did a direct deposit from my bank since they also use Wells Fargo. Saved a bit for the wire fees. I confirmed with the representative I’ve been working with, Troy, that it made it to their account. Now I’m just waiting on Sterling to set me up with a license. After that, we do a quick training call and I’ll start trading!
I’m looking forward to trading with no commissions and no 3-round-trip-per-week limitation. I am a little nervous about the ECN fees, manually choosing routes and order execution / fills. I’m not 100% sure how direct access trading works and it seems like it could get expensive if you’re trading the low priced stocks that I’ve been working with so far.
Mar 142010
Mar 062010
I trade off a Mac Book Pro with ThinkorSwim desktop. I have three screens using the built in mini displayport and a USB to DVI converter (Gefen). I do not recommend using a Mac for trading. I’m finding more and more than most trading platforms are Windows only.
Right now I’m set up on the dining room table because it’s been raining and my shack is apparently not waterproof. I will be moving back into the shed after I fix the roof.
Other trader’s setups:
http://www.tradingheroes.com/trade-forex-in-the-bathroom
http://thebetfairfootballtrader.com/about/my-trading-setup/
http://www.stocktradingtogo.com/2008/10/30/the-dream-multi-monitor-trading-station/
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