I trade out of two accounts, long-term (swing) and short-term.
Because I cannot watch the markets on an intra-day basis, and because I am not always patient (something I am working on), in my long-term account, I tend to buy dips/sell rips rather aggressively, but in steps. (Buy dips in a bull and sell rips in a bear.)
For instance, I bought TNA at 60 at 53 and I plan to buy around 49.5 if it gets there. *I know* I will make money on this trade.
In my short-term account, I trade and scalp equities. This is when I can watch the market more closely.
My goal is to become a more accurate trader in the LT account as well. In this, I am working on more patience. This is the most important quality of a trader, and I need more of it. However, I recognize that I cannot be perfect, and I am not pursuing perfection.
Just FYI, my LT account (most trades are published here) is up about 35% in the past six months. It will be up at least 30% from its current level within the next 2 months, give or take.
If and when I have time, I will start a blog trading record, with $ amount of all trades.
2 comments:
Please post more often. Thank you.
Thanks, RC. If things play out the way I expect, I think the RUT is going to 1100 in the next year or so. That is why I have been so aggressive about buying, especially in my LT account. INDL will double, as will many equities. Basically, every daily and weekly chart I look at is telling me to buy. This includes TLT, TNX, $BSE, $SSEC, $RUT, $COMP, SOX, and individual equity charts like FREE, DRYS, etc.
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