graybids

So this weekend I ventured over to Charlotte, North Carolina to check out the MTA Southeastern Regional Seminar. I must say it was a great experience, and much better than I anticipated!

The seminar had a great lineup of speakers and an excellent networking opportunity with other traders and professionals alike. I learned so much from most notably Brian Shannon’s lecture and Corey Rosenbloom, and even better I was able to personally approach them and chat with them after! Really down to earth guys that know their stuff.

I also met a lot of young traders just like me , who I will definitely keep in contact with as my trading career continues to grow. This was my very first trading/technical analysis seminar and will most definitely not be the last =)

Here are some pictures I snapped from the conference:

Me with Brian Shannon. I highly recommend you check out his site I just ordered my own copy of Technical Analysis: Trading in Multiple Time Frames
www.alphatrends.net

Me with Corey Rosenbloom. I was not familiar with Corey before this seminar, but was really impressed with his presentation and market knowledge. He has now been added to my daily trading blog reading list and I am eager to start reading his recently published book too!
www.afraidtotrade.com

I have been slacking on my posts lately, school is back and classes are back in full force! I will update some trades in my profit.ly and may get around to reviewing them.

Today, I played January 62.50 puts in RIMM. I shorted around 1:30 , when it broke 61.85 with good volume. I am really having a tough time of when to protect profits, or when to sit on my hands just a little longer during the uncomfortable moments in a trade. Once I entered , it was immediately going in my favor and never once tested my stop loss. Already a great feeling and I was in control of my trade. Then it started selling off quicker, when it finally bounced around 61.51 and went all the way back up to 61.73. I covered on this bounce, only to regret doing so later. Around the 61.50 level I was sitting on a respectable profit, but I was trying to hold until the trade told me to get out…

Heres a 5 minute chart of RIMM
(ThinkOrSwim is down for the weekend)

This is the problem I still have, even with profit do I tighten up my stop? Or do I keep my original pre-determined stop and let it potentially retrace from good profit to a stop out?

Left a lot on the table, good lessons, still on the grind.

Today banks were all strong , due to positive news from JPM. Given this strength I wanted to see how BAC would react around the $15 level.

I bought the 15 Monthly Calls when it broke on good volume and held until the uptrend broke. It had a hard time getting past 12.28-12.29, and I should have sold up there, but decided to give it some more room to move.

5 minute Chart:
I got out when it broke the second consolidation around 2:50PM

4 Day look at 15 minute chart of LVS

I said i would stay short once 49 is broken and hold unless 49 was broken again. I got faked out when it went to 49.03.

As of this posting LVS is continuing to break down further…

RIMM and AAPL Plays today

RIMM I played the 62.50 calls on the intra day break at 9:46, had alot of sellers at 63 and I got stopped out even though it consolidated and eventually broke out…annoying.

1 minute RIMM Chart:

APPL was trying to anticipate a breakdown, bad play, immediately went the wrong way when I got in (at the oval highlight), I played the 330 weekly puts. This one also eventually started fading and breaking down…annoying.

1 minute APPL Chart:

Lessons: Being under PDT sucks? I am forced to sit and watch the rest of the day. I guess I have to better perfect my entries until then…