Sick - Just adjusting GOGO stop

Just moved my stop up in GOGO to yesterday's low. Think it's going to turn today to stop me out. Speaking of getting stopped out. My order was hit on FRAN and I got stopped within the day. I really hate it when this happens but it's part of the deal when taking these setups.

As for now, not even looking for setups. I feel feverish today and it feels like i'm just forcing charts to look good. So I'm skipping today and just going to take a rest.

Selling ACAD and OMI

Selling my remaining position in ACAD and OMI as these two report earnings this Wednesday and I just don't want to be a part of that.

New orders on FAST and FRAN. I really like these high and tight setups. The problem with FAST is that the stop is so tight that I wasn't comfortable putting an order for 80 shares so I scaled it down to 50. The problem FRAN is the stop is a little wider that I'm only able to buy 24 shares. LOL. I guess it balances out somewhat?

Moved stop up for GOGO by around 10 cents, it is still squeezing in some good profits. Earnings for that is I think next week.

October is about to end and I'm excited to just get a run down of my trading activities so far. It's been the first (?) complete month since I have followed ZorTrades' method of trading and I am seeing some success. I have been kind of active lately although I would love some more setups to buy and manage. Also experimenting on the day itself setups but I haven't had a lot of success with that, I still don't know what the rules are for entering and exiting such trades.

No setups - just adjusting stops :)

Really happy with my position in GOGO, I am adjusting stops again upward to yesterday's high. And I'd be okay if I will get taken out.

There really isn't a lot of stocks on the scans that I'm interested in. It does feel like we're going to get some pullback in the overall markets.

As sort of expected, my position in OMI is likely to get stopped out. Was it the wrong trade to take? Maybe not. But certainly this isn't the outcome that I want. I'm a little bummed out about it but I guess this is just part of it.

I am still watching the 3-days down scan later at the open to see if there's anything interesting. QTWO yesterday was just too strong and didn't give me a chance to get filled. I'm going to monitor the stock today to check if there's some follow through.

For now. It's waiting and studying.

No new setups

Didn't like any of the setups on my scans today. So today, I just moved my stop up in GOGO which has been doing quite well.

I am also experimenting on ZorTrade's 3-days down scan today and just going to watch how the stocks behave. To be consistent, I'm not taking any trades from this scan within the first 15 minutes of the trading session. This will give me time to evaluate which setups I can take for the day.

For now, I'm putting in a limit of setups within the first 30 minutes of the day. After that, I'm no longer taking any more setups from the list. So let's see.

Edit: Put in an order for QTWO. It seems that the stock is very strong so I'm not going to chase and I'm going to hold my limit order up to 10c above yesterday's high.

Re-buying OMI

A few weeks back, I was stopped out of my position in OMI for a nice profit. The setup looks good again so I have some buy-stop orders on it today.

OMI is setting up nicely for another move up. Although earnings is just a week away so I'm probably going to sell by early next week regardless if it moves or not.

A lot of market strength has benefited my recent trades. In particular half of TILE and GOGO positions were exited at 1x risk. ACAD displayed +8% strength last friday. Even if it is at 99% of my first target I am inclined to take half off already today.

My feeling in OMI is that my buy-stop order will get hit and then it will get stopped out. I feel that the market is overreaching again and poised to take out new highs but without enough good news, I feel like the likelihood of it pulling back and being "noisy" is just much higher.

Nevertheless, I have decided to take the setup just because I like it and I have to be consistent in taking these setups. I have to be consistent even if it doesn't feel comfortable.

I begged off blogging for a while and taking on new positions, so just managing those three in the meantime. I'm incredibly stressed at work so my decision making skills are not up to par. Now my best idea is OMI so it better work. LOL

Sold Half TILE

I sold half my TILE today and moved my stop up to break even. I was almost sure it was going to turn out sour last Friday. But it held up pretty well and got up yesterday with a nice strong candle. The open didn't look good today and because I already reached my first profit target, I took half off already and just letting the rest run with a stop at break-even. If it goes up further, I will just trail the stop up.

No new setups for me. I am seeing a lack of momentum setups lately in my scans and that is okay. I like the pace that I am in now. Although I have a setup idea that may work and may expand my horizons a bit when it comes to short term trading. It is an intraday setup scan that I will be working on (it's actually quite simple) have to get some experience with it first.

No setups today!

 

First time in a while that I didn't see any new setups worth taking. I only have 37 stocks in my momentum scan and all of them are showing signs of a reluctant upswing. We had a nice gap up in the market last Friday but it didn't close as strong as I would have loved it to. 

I am half expecting the market to go down from here to pullback a bit after a 3-day positive move. I am not bearish, I just feel it will pullback a bit and maybe consolidate until the next news or tweet drives this market up again. 

In the meantime, I have 3 positions on and I'm hoping that they survive this pullback. Otherwise I'm going to back to square one with my profits. But that is life.

It seems to me that investors took the chance to pare down risk last Friday and take advantage of the strong move. This is why I'm expecting a pullback rather than a crash towards the $270 handle.

Copycat orders - moving up stops on OMI

 

I pretty much entered the same orders as yesterday because I think they're still valid setups. None of them got hit yesterday. Size is pretty much the same except that since FRAN printed tight candles, I was afforded a tighter stop, and slightly bigger size. Let's see what happens there.

Meanwhile, my lucky streak with OMI continues! OMI made a new high (but didn't close at the highs) yesterday, and so I moved up my stop the low of the day, I'm probably going to get stopped out today for sure but I do not want to capture a move downward. of course this can run away without me but I guess that's just part of the deal when it comes to these trades. I want to be more consistent and have a smoother equity curve.

New Day New Trades!

 

 Some new orders today. I particularly like FRAN because I like the price pattern of "compressing" against a swing high, in anticipation of a breakout. The only bummer about this setup is that based on my rules at least my stop is quite far and thus this setup allows me to buy only 25 shares. This isn't even $500 lol.

GOGO and TILE on the other hand or mean reversion setups that I like.

 

Yesterday, I had another stop out, TMST. It didn't even give me the chance to see the position above water. I got stopped out immediately the following day as the overall market opened weaker. It really sucks when this happens but I guess this is normal for the setups that I take. There really is risk of a whipsaw and that's something I cannot completely avoid.

 

For now, the futures indicate a strong open. Hope that some of my positions benefit from the early morning bullish sentiment. OMI for instance is still showing strength! My ACAD order got hit as well but I'm not as enthusiastic about that since the close yesterday was very lackluster in my opinion.

Sell Half, Buy More :)

Have some new orders today but I'm not too enthusiastic about my chances today because the open seems to be weak.

I was able to sell half of my OMI position yesterday. I got lucky because by the time I entered my limit sell order, the stock had gone down a bit already. Luckily sometime during the trading day, it went up again and hit my order. Then it proceeded to go down again. I moved my stop up to break-even.

My TMST order was hit as well but that isn't doing too hot right now. We'll see what it does during the week. 

PGTI - no dice, but OMI looks nice

Yeah last Friday was one of those days when I got the stock selection right but was not lucky enough to get my orders hit. The order was active but the price jumped above my limit order and I didn't get a fill.

My sleeper of a position in OMI is doing well today and if it does well, well into the opening session I am considering taking half of my position off as it has reached my first target. 

  

I want to ride the stock a little more while risking some form of mean reversion since I was able to get in at a pretty good base (consolidation). Probably sell half if I'm already imagining a move to $8.50 lol

PGTI 2nd Round?

I think I'm going for another round on PGTI today. I but a stop limit order at around 16.95 with a 45 cent stop. I think It can do another swing to the upside, I'm just going to follow the template that I did last time.

A few days ago I stopped out at break-even on the remaining half of my PGTI so I hope this second round will give me some more juice.

Aside from that I have nothing else except my surviving OMI position. It does seem like it's going to tire out anyway but I do not want to move my stop up because it is just increasing the chances that i will stop out of this position at a slightly lower loss with no real benefit. Might as well just take a gamble on the thing and stop out at my risk to give it a fighting chance.

PGTI Stopped Out

As expected I got stopped out of my PGTI position at break-even yesterday. Well not really break-even but maybe around $5 bucks down or so. No problem.

At this point I'm just surprised that I still have my OMI position on. It looks good and it doesn't look like it's following negative sentiment at the moment so I'm just going to hold it for now.

I hope it breaks out solidly to the upside hahaha

Right now I just added a few new names on the list for mean reversion (3-days down setups) and a few stocks that might end up today with an inside day. I'm expecting the broad markets (SPY) to get a few bids at these levels and maybe the selling will slow down and provide a platform for bulls to jump in.

MTEM Stopped out same day wtf

Don't like a lot of the setups on my scans today. It looks like the market is going to be weak at the open so I'm not expecting APRN to get hit within the day. Nevertheless I put the order in because the setup fits my criteria.

Yesterday I was able to sell half of PGTI and sell all of BBBY for some nice profits. Have moved PGTI stop to break-even as well. I feel like I'm going to get stopped out of PGTI today because of the weak market and because the price is so near my stop.

MTEM order was hit as well, it did well when I got hit but quickly reversed course and within the day I was stopped out. Things like this bum me out really good but I have to accept that these things will happen. (watch how MTEM will now conveniently breakout to the upside after I was shaken out...lol). It is part and parcel of the setups that I wish to take. In another dimension that could have gone up. I won't know that of course.

So far i'm liking my methods, it is very simple, the flow is very simple and it does not allow me to dilly dally on positions and on set ups. I'm still having trouble accepting losses that happen within the day but I should get used to it, how am I expecting profits to come if that weren't the case.

Selling remaining BBBY, Selling Half of PGTI

New orders today are OMI and MTEM from the watchlist. I pruned the watchlist a little bit so I might have to look into some new names by tomorrow.

I booked half of the profits on BBBY yesterday and I'm booking the other half of the profit today because I received a notification that BBBY is reporting earnings after today's close. I don't want to hold any short term trades through earnings because I don't really know anything and it can swing violently both ways. I'm just going to be safe and take profits on what I have. I'm happy with this trade but was also lucky that I have a chance to sell prior to reporting earnings.

 PGTI reached my 1x risk today and I'm hoping I can sell half of it at the first target today as well. Moving my stops up to break-even on this and I will just trail all the way up.