Trading quotes for January of 2013!!!

Trading quotes for January of 2013

Trading quote for today (1/04/13): “It's okay to be wrong when a trade doesn't work, but it's never okay to "STAY WRONG" on that same trade.”

Trading quote for (1/07/13): "The markets change continuously and so must you. What worked last year or even last month may not work now."

Trading quote for 1/08/13: "Do not be careless or reckless with your investing/trading. You invest/trade for profit, not for fun and games."

Trading quote for 1/09/13: "Don't be a bull, don't be a bear: Be a predator, constantly lurking and stalking the 'easy prey/money'."

Trading quote for 1/10/13: "Trust your gut, if something doesn't 'feel' right, sell/cover it. Analyze (emotion free) it from the sidelines."

Trading quote for 1/11/13: "A risk-reward ratio of one to one is not worth it. You should prefer to see: 'Risk [1] $100 : Reward [3] $300'."

Trading quote for 1/14/13: "Adding to a losing position regularly is one of the best ways to end your investing/trading career."

Trading quote for 1/15/13: "Investing/Trading is a business and you should treat it as such. Know when to enter and exit the markets."

Trading quote for 1/16/13: "Investing/Trading in stocks is a lot like a beauty contest. What looks best, wins."

Trading quote for 1/17/13: "Beware of price move without the volume to match. Low or weak volume on huge price moves are very suspect."

Trading quote for 1/18/13: "If you're getting all your trading strategies/tips from people's tweets, you shouldn't be playing the markets." 

Trading quote for 1/22/13: "Never short a market in momentum mode." We are now in a strong upwards trend.

Trading quote for 1/23/13: "Most losing streaks start because a 'basic' rule was broken, then your emotion starts talking over the trade."

Trading quote for 1/24/13: "Believe it or not, often/most times the best investments/trades require you to 'buy high' and 'sell higher'."

Trading quote for 1/25/13: "Do not let your greed get the better of your judgment."

Trading quote for 1/28/13: "NO plan, NO TRADE!"

Trading quote for 1/29/13: "Professionals average up; amateurs average down."

Trading quote for 1/30/13: "If your trade or investment is not working, it's okay to say 'I'am wrong and what do I need to do now'."

Trading quote for 1/31/13: "Act when you see an opportunity and be content to stand aside when you do not."

Trade of the day, KERX!!!

So I caught some of a short squeeze this morning on KERX. Went long 1000 shares at 9.09 after the candlestick hammer formed on the 5-minute chart. I wasn't really looking for a profit target price with KERX, but just observing it for a little top heavy action or a candlestick sell signal. A shooting star bar pattern did form about 18 minutes after I entered the trade, and I got out exactly at that bar's close at 9.60 for a .51 point gain.

If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!

Trade of the day, SANM!!!

Not all bounce plays work, as you can see on the picture below. I thought SANM was a perfect bounce play in motion this morning, so went long 1000 shares at 10.20. Was looking for a profit target of at least 11.00, but my stop ended up getting hit at 9.99 and sold it for a -.21 point loss.

If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!

Trade of the day, RPRX!!!

Caught a nice small bounce today on RPRX, when it started collapsing right at the open. Went long 500 shares at 12.00, and was looking for a profit target around 13.00. Everything on this trade worked like clockwork, and sold  RPRX right at 13.00 for a 1.00 point gain. I really couldn't have asked for a better trade this morning.

If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!

Trade of the day, UVXY!!!

Didn't day trade any stocks today, but this trade of the day, was just a continual trade from yesterday (look at previous day blog post) on UVXY. Finally sold it right before the bell rung at 10.59, from an entry yesterday at 10.15, for a .44 point gain. All I can say is "Do not let your greed get the better of your judgement." HAVE A NICE WEEKEND!

If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Than

Trade of the day, UVXY!!!

So I broke a bunch of rules today, but this trade just got my emotions going. Went long this morning 1000 shares of UVXY and got filled at 10.15. Decided to hold it overnight after it broke through 11, but as you can see below, my trade turned into a nightmare after 2:30p.m ET. Going to hold UVXY until probably the end of the day tomorrow.

If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!

Trade of the day, ONVO!!!

ONVO has treated me well the last 2 days (read previous blog post) with over $1500 in profits, on just 2 round trip trades of a 1000 shares each. I ended up almost catching the bottom today when it sold off and hit a low of 4.07. Went long ONVO on a 1000 shares at 4.30 when I say the candlestick hammer was about to form on the 15-minutes chart. My profit target was at least 4.90, but when it broke through 5.00, I decided to hold on for a bit longer, and sold it at 5.09 for a .79 point gain. By the way, got stopped-out of UVXY again today, after I moved my stop up for break-even. I’ll be playing it (UVXY) tomorrow morning again. CAN’T STOP, WON’T STOP!!!

If you want to see what I might be trading during market hours and interact with me during my trading days, just follow me on stocktwits or twitter @tradermike9. Thanks!