Think About This

Jason From Leavitt Brothers Once said:

'I like to say that to be successful, you really only need 1 or 2 good trades each week, and this is more true now than ever. Do not trade for the sake of trading. Trade the good patterns only, and be demanding. Constantly ask yourself: "is this one of those good ones?"

If you made 2 points each week with 1000 shares, you'd make a 6 figure income trading. Think about that. Just 2 points each week.

Find "your trade" and get good at it. Focus on executing your trade over and over and ignore everything else. Do not complicate this game.'



I read this paragraph every day before i start my trading day. It's not the quantity of the trading that you do. My best trading days have by far been the days where i traded the least but these are the days where i made 1-3 trades and made a very good profit and just walked away. I know what kind of trade i like to look for and when i find it I jump on it without hesitation b/c it has worked for me many times before and feel confident in the outcome?

So, ask yourself, do you feel confident in the outcome? If not, don't take the trade!

CAll Me the Crippled Trader.

Well, just because i had a broken thumb and high on pain killers doesn't mean I was gonna miss out on a friday's trading. I actually came out looking really good. I was trading with my left hand however, maybe i should do that more often.

Broke My Thumb Playing Soccer :-(

Hello Everyone! I unfortuneately will not be blogging, trading very actively, or posting on wallstreak for at least 4 weeks. I got tackled playing soccer and landed hard on my thumb and broke it. I broke my ankle playing soccer 7 years ago and let me tell you, i'll take a broken thumb over a broken ankle any day. It is a contact sport and there are some very rough players in the game. Good luck trading to everyone and I will be looking forward to coming back nice and healthy hopefully in about a month.

Late Day Rally Spots the Bottom

Once again the Positive Divergences Spotted an end to the downtrend and very likely spotted an important bottom/low.

Market Bottoming NOW

Market Obversations From My Experience

Dinosaur Trader made a very smart observation and asked why does the market always move around 2:45Pm. Here's my opinion and thoughts on that:

The biggest market moves are made in the first 1/2 hour of trading and the last hour of trading. That's b/c that's when the big money is squaring off their positions. That's why they tend to be the most exciting times of the day. I would avoid a ton of small shitty useless losses if i only traded during those two key times. That's when the pros are trading very actively, trends get stronger, breakouts/breakdowns are more meaningful, volume spikes etc etc. All other times during the trading session is just account churning, commissions to my brokers, boredom, frustration and usually small losses that add up over time.

Shorts Setps All Over the Place

Shorts Setups is all i see right now. Amazing how quickly things change.

Why I was Bearish on AAPL and BIDU

Two Shorts Taken Today

The market was very frustrating in the morning as it gapped up and really offered no compelling long setups. The fact that bullish setups were hard to come by and the market was up big made me weary that we could be in for a Gap and Trap scenario and boy o boy was that the case.

Weak Market Bounce

Weak bounce to relieve oversold conditions.

Bullish Divergences on the SPX

Today's early to mid day decline looked weak, created some bullish divergences after that very extended decline and signaled a nice tradeable rally.

I learned a Lot Today

Lessons to remember: If you decide to trade in a choppy market, trade with smaller size and use looser stops. It will avoid over trading, frustration, and silly losses.

Setups For Next Week

Here are some setups to look at next week.

Market Analysis For the New Week

The markets took a serious beating but a bounce could be very near. This bounce will give us lots of clues about the health of this market. A weak bounce tells me that we are going much lower into this corrective move. Regardless any move from here would very likely setup lots of shorting opportunites in the coming days. This correction could easily take us down another 5% and could last another 2-3 more months before we setup the classic year end rally or what i call the 'Wall Street Bonus Rally.' The market is way too oversold anyway you look at it right now to short here. I am gonna wait and see how a corrective move up plays out before i get aggressively short. The fact that we are seeing capitulation type high volume on the selloffs near the top(instead of the capitulation type volume after a long extended decline) tells me that we are going much lower in the coming weeks.