James Brick and Mortar Discretionary Trades

>> Trade Update <<

Looking to add more shorts, if market goes lower

Edit: Added 4 shorts

Total Shorts: -9@ avg 6951.5

EDIT: this trade has a relatively wide stop at around 7000ish (not to get stopped out in case there's another quick upleg, before the expected sell-on-good-news really kicks in

Edit: added one more short: bringing pos to: -10 @6951.2
 
Quote from JamesJ:

Yes, you are absolutely right... that's when it gets really interesting.

there will be that -30k for sure at one point, it happened in the past an will happen again.

I try to get in, when momentum is somewhat in the direction of my trade, but it does and did happen that i find myself selling at the low or buying at the top...

however not getting stubborn is key in those cases, really being able to pull the cord...

One leak possibly is, that when the trade does not really move in my direction but neither yet really into the other, instead of taking a small loss i sometimes try to get out flat or a small winner, doing some scalping... however, this could fire back if a move really accelerates into the "wrong" direction...
More...

i dont trade shortterm but if i get a chance would probably not be too different to what you do. Varying size and leave this <60% win rate to others and take only >60+% sometimes looks like scalping. btw. enjoying this thread.
 
>> Trade Update <<

Took some 4 off 6938-6941. looking to take one more off at 6933.50.
Won't be in a hurry to take off the remainder thereafter (looking for possible homerun with <6900).

Edit: 6933.50 hit. 5 shorts remaining, if we get to 6925, stop will be lowered to 6950. Not closing anymore before <6900.
 
>> Trade Update <<

Stop moved to 6950.

Any downmove can really have legs here, as market focus may shift from greece rescue to iran...
Stop@6950 is somewhat close to current prices, viewing it as a (more or less) trail stop of 25 points.
 
>> Trade Update <<

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Stop moved to 6940,

Buy limit at 6891.5 for first of the 5 remaining shorts.

Edit: downmove somewhat takes a break right now, took off 1 at 6910 (thus the 6891.5 limit is removed)
 
>> Trade Update <<

118hv6p.jpg


Trade developing good, still holding on to those 4 remaining shorts.
Looking to close one around 6880, and then reevaluate (maybe lowering the stop).

Edit: looking for <6870 for first close, rather than 6880, and stop moved to 6925.
Edit: closed one at 6898.5 as failed to establish new lows, and potential of a short time upmove prior to us open.
Remaining Position: -3 FDAX@6951.2

Edit: limit of next one to close is 6862.50 (with current price of 6893.5 equals in theory a 50/50 chance of limit getting hit or stopped out)
 
>> Trade Update <<

Adding some shorts (7) at the current level 6907-6909, for a quick scalp back to 6900 level, worst case stop on whole position 6925.

No major numbers at 8:30 ET
 
>> Trade Update <<

Scalping Shorts all back off, some in the 6902-04 area, rest closed around entry.

Will post overall PnL, after whole position is closed. (still 3 FDAX short ON)
 
--- US Market Outlook ---

Interesting Stocks:

CORT - up 62% on drug approval :

- no history on that, hard to say wether move is fundamentally sound.
- look at momentum for possible daytrade
- probably no trade here as volume and market cap invite MM&HFT to fool around.

THLD - up 53% on drug news:

- same as CORT, probably no trade


WMT - down 3% :

- worse than expected earnings and outlook
- maybe a short momentum play after open

CIEN - down 4% :

- cut forecasts for Q1
- also a potential quick trade

Other Stocks to watch:

HepC Stocks - recently in the news on drug trials and report saying that HepC deaths will soon surpass HIV deaths.

GILD
VRTX
ACHN
...
 
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