Friday, October 26, 2012

Earnings week


Hurricane Sandy

Earnings season is similar to a hurricane I guess? Everything gets pretty wild!

All I traded this week was earnings and most these plays were therefore gap plays.

I got the week of to a bad start, losing too much by trying to trade too large at the outset. I also made an order entry mistake, luckily not too big, but that threw my P&L out of whack, a little.

Thursday and Friday I traded small at the market opening and kept pounding away all day.

All in all, it wasn't such a bad week as I learnt a lot again.

I again set some stop loss orders too tight and was stopped out before the big moves up! I am slowly learning to identify my own plays, but am still dependent on others for those quality plays!

I have also learnt, not to enter trades too quickly, but to rather stalk it, and look for better entries, if it is going to be a longer trend move. Today I entered a trade, after a quick glance, and should rather have waited a little.

I am still looking for a stock scanner that can identify intraday plays that comply with my criteria.

So before I get caught up in the office, I'm heading home to board up the house and survive the hurricane! I am also not going to make any jokes about women and hurricanes here either!

P.s. I would have liked to attend Stocktoberfest, but will surely make it next year!

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