Two Kinds of Knowledge

Very simple. There are two kinds of knowledge that can be acquired. One is General knowledge which is derived from schooling/college, etc. The other is Specialized knowledge that's acquired from learning a very specific skill.

 

General Knowledge, know matter how much of it you have or how much schooling you've been too really does very little for you in the long run as far as financial abundance. College Professors make very little money, yet they are considered very very educated human beings. They have learned a great deal of all around knowledge or know a lot about a particular subject.

 

Why is that?

They specialize in the teaching of knowledge, but they don't teach you how to use that knowledge. The idea is, "ok, here you go. I've taught you what I know, go make it happen" How do I make it happen? What do I do? All I know is what I've been told about what I need to know, I don't know how to use what I know.

Simply being educated will not produce financial results. You can be an Einstein but if you don't know how to organize your knowledge and direct it to a definite ultimate goal, you'll be floundering.

 

I'm sure back in elementary or even H.S. and College you'll see "Knowledge is Power" That's such bull crap I want to puke. Knowledge is not power.

 

• Knowledge = Potential Power
• Knowledge + Action = Power

 

Yet, no one will teach you anything about how to put things into Action. Institutions fail to teach students how to organize their knowledge and build a plan towards a definite goal. The missing link to creating Power and Financial freedom is putting your acquired knowledge into action and striving non stop towards a concrete end.

 

An educated man is not someone who has a huge amount of knowledge but one who has developed parts of his mind to the point where he may acquire anything he wants or it's equivalent without violating the rights of others.

The Daffodil Principle

When I finished reading this story it reminded me of something. How do you eat an elephant?....One Bite at a Time.

Several times my daughter, Julie, had telephoned to say, "Mom, you must come see the daffodils before they are over." I wanted to go, but it was a two-hour drive from my place by the beach to her lakeside mountain home. 

"I will come next Tuesday," I promised, a little reluctantly, on her third call. The next Tuesday dawned cold and rainy. Still, I had promised, and so I got in the car and began the long, tedious drive. 

When I finally walked into Julie's house and hugged and greeted my grandchildren, I said, "Forget the daffodils, Julie! The road is invisible in the clouds and fog, and there is nothing in the world except you and the children that I want to see bad enough to drive another inch!" 

My daughter smiled calmly, "We drive in this all the time, Mom." 

"Well, you won't get me back on the road until it clears and then I'm heading straight for home!" I said, rather emphatically. 

"Gee, Mom, I was hoping you'd take me over to the garage to pick up my car," Julie said with a forlorn look in her eyes. 

"How far will we have to drive?" 

Smiling she answered, "Just a few blocks, I'll drive ... I'm used to this." 

After several minutes on the cold, foggy road, I had to ask "Where are we going? This isn't the way to the garage!" 

"We're going to the garage the long way," Julie smiled, "by way of the daffodils."  

"Julie," I said sternly, "please turn around." 

"It's all right, Mom, I promise, you will never forgive yourself if you miss this experience." 

After about twenty minutes we turned onto a small gravel road and I saw a small church. On the far side of the church I saw a hand-lettered sign ... 

"Daffodil Garden"

We got out of the car and each took a child's hand, and I followed Julie down the path. As we turned a corner of the path, and I looked up and gasped. 

Before me lay the most glorious sight. It looked as though someone had taken a great vat of gold and poured it down over the mountain peak and slopes. The flowers were planted in majestic, swirling patterns, great ribbons and swaths of deep orange, white, lemon yellow, salmon pink, saffron, and butter yellow. Each different-colored variety was planted as a group so that it swirled and flowed like its own river with its own unique hue. 

Five acres of the most beautiful flowers I had ever seen! 

"Who planted all these?" I asked Julie. 

"It's just one woman," Julie answered, "She lives on the property. That's her home," and she pointed to a well-kept A-frame house that looked small and modest in the midst of all that glory.

We walked up to the house and on the little patio we saw a poster ... 

Answers to the Questions I Know You Are Asking 

50,000 bulbs
one at a time
by one woman
2 hands, 2 feet
and very little brain
Began in 1958 

There it was ... "The Daffodil Principle" 

For me that moment was a life-changing experience. I thought of this woman whom I had never met, who, more than thirty-five years before, had begun - one bulb at a time - to bring her vision of beauty and joy to an obscure mountain top. 

Still, this unknown, old woman had forever changed the world in which she lived. She had created something of magnificent beauty, and inspiration. 

The principle her daffodil garden taught is one of the greatest principles of celebration: 

• learning to move toward our goals and desires one step at a time, (often just one baby-step at a time) 
• learning to love the doing, 
• learning to use the accumulation of time 

When we multiply tiny pieces of time with small increments of daily effort, we too will find we can accomplish magnificent things. We can change the world. 

"It makes me sad in a way," I admitted to Julie, "What might I have accomplished if I had thought of a wonderful goal thirty-five years ago and had worked away at it 'one bulb at a time' through all those years. Just think what I might have been able to achieve!" 

My daughter summed up the message of the day in her direct way, "Start tomorrow, Mom," she said, "It's so pointless to think of the lost hours of our yesterdays. The way to make learning a lesson a celebration instead of a cause for regret is to only ask ... " 

"How can I put this to use today?" 

~~~

Jaroldeen Asplund Edwards, Author

COINW- What a Roller Coaster!

Man, after that trade, I had to go for a run. I just got back running a bunch of stairs over looking a huge cliff here in Newport. I run there a lot to reflect on my goals and what I'm doing.

 

Well, I got entered COINW at 6.62 It immediately started declining and at one point I was down about 15% I think. When that happened I basically said "screw it" and didn't really care anymore what happened. Then the QQQQ's started declining pretty rapidly and I that just reinforced me not caring.

 

Right after the price started stalling and not moving anymore, it slowly inched it's way higher and all of a sudden I see an order for 15k shares come in and that started driving the price straight up. Of course, the moment I see a profit I take it and I sold at 6.77

 

My exit strategy for taking profit is simple but I have a hard time following it. When the bottom of the most recent candle gaps up above the 7 EMA, take profits.

 

In retrospect I got out way too early. It ended up shooting to around 7.50 but I'm happy I didn't end the day down huge, lol.

 

The Holy Grail of Trading

Do you want to make money from the markets? Consistently? I'd suggest forgetting everything you know about the market. The more you know about the stock market the worse off you are. The majority of people when they first start out trading think it's necessary to know everything about it because the market seems so complex. The markets are complex only if you make them out to be. Trading is actually very simple but what makes it so hard is human nature, not the market.

 

 

Lack of confidence, second guessing, fear of losing money, being greedy and selling when you can, not when you're forced too all are human emotions and those qualities are the reasons it's so hard to trade. It's not the market, it's you. The holy grail of trading is inside you, not in some technical indicator, a newsletter or some book. Understanding why people make the decisions they do under pressure and being able to read emotion from a chart, is one step closer to the only thing you really need to know. Emotion and perception about what people believe the prices should be are the driving forces of the market.

 

 

I'm telling you, technical indicators all pretty much same. It's the same regurgitated bull crap derived from volume and price. It only tells you where the price has been, none of them tell you where it will end up. If an indicator did tell you where the price is going to end up, exactly and all the time, that indicator won't work very long because everyone will jump on the bandwagon and destroy that particular indicator because everyone is expecting the same thing. At that point it'll be a great contrarian indicator.

 

 

Plus, the more technical garbage you have on your chart, the more likely paralysis by analysis will spring up while you're debating whether to sell or buy. You have so much going on you start second guessing yourself because one indicator might be conflicting with another. Soon enough, you sit there doing nothing while the stock is declining. Having a game plan before entering a trade is so crucial because it prevents what I just mentioned. The game plan you create will include: when to get in, when to get out if it goes against you, when to get out if you goes in your favor. Knowing these before hand, I guarantee will take the fear and psychological load off you while in the middle of a trade.

 

Trading is about probabilities, the odds of something happening with the provided information. Creating a strategy you develop yourself or buying one if you have the discipline to follow it are ways to help push the odds in your favor. But, the hard part is following the strategy exactly. Following directions seems to be something people don't know how to do. Someone will buy a strategy, put on a few trades and they all end up being losers's so they completely scrap that strategy and find one that works. WRONG! You can't have 100% winners, it just doesn't work like that. You will have losers. Any strategy that doesn't produce losers, I'd be very afraid of. 

 

Another emotional barrier you need to get past is admitting your wrong while you're in the moment of a losing trade. This is something I have trouble with sometimes. Why? Because I think the stock will go back up. Horrible...the fact that the stock is declining is more than enough reason to sell it for the loss you have and move on. When you buy a stock, I'm sure you're expecting it to move in your favor. Why would you hold on to it if it's not doing what you intended it to do? Stocks will go against you, it's the nature of the beast. Again, why is this so hard to do? Emotion. We get so wrapped up in wanting to make money now that we won't sell it and hope it goes back up so we can say we "won".

 

Trading is something of an art. It's not something you can go to school for, learn and then start making money right after school. It takes time, a lot of patience, and passion to keep you driven to understand the language of the market. Which is why I think the market is similar to reading music.

 

To a musician, he/she can read the musical notes and tell if this is a master piece or work done by a 5th grader (not knocking any genius 5th graders or anything  but I'm sure you get my point). To the untrained and undisciplined person, that sheet of music looks like a bunch of mumbled up squiggly garbage. But anyone can learn to read music. Same idea apply's to trading. An uninformed person looking at a chart has no idea what's going on and wonders how anyone can consistently make money at this. But the to trader who understands emotion and can relate that idea with the chart of a particular stock, he can read whether he'll buy it or sell it or even walk away from the trade. He can read the probabilities and decide whether to pounce or not.

 

It's about only putting on trades where the probabilities are slanted in your favor. Trade these setups over and over, while cutting any losses that might result from a good trade turning into a loser, and taking profits that result from your trade, is the holy grail to trading. Keeping it simple is the best way to go.

 

 

 

Below are a few books that I've read and highly recommend everyone to read to help them on their journey. Go to amazon and read the reviews.

• Trade With Passion and Purpose by Mark Whistler
• Market Wizards by Jack Schwager
• Inside the Investors Brain by Richard Peterson
• Trading in the Zone by Mark Douglas

Non Trading Books

• Richest Man in Babylon by George S. Clason
• Think and Grow Rich by Napolean Hill (love this book)
• Rich Dad Poor Dad by Robert Kiyosaki (of course everyone needs this on their book shelf)

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If You Think You Can

If you think you are beaten, you are

If you think you dare not, you don't

If you like to win, but think you can't

It is almost certain you won't

 

For out in the world we find,

Success begins with a fellows will,

It's all in a state of mind

 

If you think you are outclassed, you are

You've got to think high to rise

You've got to be sure of yourself,

before you ever win a prize

Life's battles don't always go,

to the stronger or faster man,

 

But soon or late the man who wins

IS THE MAN WHO THINKS HE CAN

I have this poem taped up on the side of my monitor and I read it when I feel down and bummed out. It puts perspective back into my vision. Unfortunately, I don't know who it's by. I found it in a book I read a long time ago.

Brilliant Hope

Dreams will never fade

And our destiny is never truly made

And even when the nigh is brisk with frost

There is no reason to ever be afraid

Because trust can never be lost

Never give up...if all seems gone

...And see that which we truly love

Forever stand tall and strong...

Real truth comes from within our hearts

Knowing our passions can never fall apart

We quietly reflect on all time

Wishing for everything to unwind

It's true...life can change on a dime

And when we least expect to touch the sky

We do so in the blink of an eye

The ship of self can float adrift

Can the fate of this man ever shift?

Drifting from shore with broken rope

The whole of soul feels lost and missed

But in the end, there's only brilliant hope.

 

By Joppa JaMocha

Seven Mistakes All Novice Traders Make and How to Correct Them

MISTAKE ONE

Lack of Knowledge and No Plan

It amazes us that some people expect to trade the stock market successfully without any effort. Yet if they want to take up golf, for example, they will happily take some lessons or at least read a book before heading out onto the course.

The stock market is not the place for the ill informed. But learning what you need is straightforward - you just need someone to show you the way.

The opposite extreme of this is those traders who spend their life looking for the Holy Grail of trading! Been there, done that!

The truth is, there is no Holy Grail. But the good news is that you don't need it. 

 

MISTAKE TWO

Unrealistic Expectations

Many novice traders expect to make a billion dollars by next Thursday. Or they start to write out their resignation letter before they have even placed their first trade!

Now, don't get us wrong. The stock market can be a great way to replace your current income and for creating wealth but it does require time. Not a lot, but some.

So don't tell your boss where to put his job, just yet!

Other beginners think that trading can be 100% accurate all the time. Of course this is unrealistic. But the best thing is that with some methods you only need to get 50-60% of your trades "right" to be successful and highly profitable.

 

MISTAKE THREE

Listening to Others

When traders first start out they often feel like they know nothing and that everyone else has the answers. So they listen to all the news reports and so called "experts" and get totally confused.

And they take "tips" from their buddy, who got it from some cab driver…

 

MISTAKE FOUR

Getting in the Way

By this we mean letting your ego or your emotions get in the way of doing what you know you need to do.

When you first start to trade it is very difficult to control your emotions. Fear and greed can be overwhelming. Lack of discipline; lack of patience and over confidence are just some of the other problems that we all face.

It is critical you understand how to control this side of trading. There is also one other key that almost no one seems to talk about. But more on this another time!

 

MISTAKE FIVE

Poor Money Management

It never ceases to amaze us how many traders don't understand the critical nature of money management and the related area of risk management.

This is a critical aspect of trading. If you don't get this right you not only won't be successful, you won't survive!

Fortunately, it is not complex to address and the simple steps we can show you will ensure that you don't "blow up" and that you get to keep your profits.

 

MISTAKE SIX

Only Trading Market in One Direction

Most new traders only learn how to trade a rising market. And very few traders know really good strategies for trading in a falling market.

If you don't learn to trade "both" sides of the market, you are drastically limiting the number of trades you can take. And this limits the amount of money you can make.

 

MISTAKE SEVEN

Overtrading

Most traders new to trading feel they have to be in the market all the time to make any real money. And they see trading opportunities when they're not even there (we've been there too).

Trade Well and the $$ Will Flow!

Thanks to stockmarketgenie.com

IDMI- Great Way to End the Week

To tell you the truth I was not going to trade this and was not expecting trading at all. But something about IDMI drew me to it and I got up this morning to see how it was. First candle it fell then the next one brought on the buyers and it took off.

I jumped in at 2.40 which for a couple minutes thought I pulled another dumb trade because it fell to around 2.28. Next candle started inching its' way back to 2.40 and once it did it shot right by.

I unloaded some at 2.50 and I let it run until I saw the gap between the bottom of the current candle and my seven EMA. I saw the gap and sold the rest at 2.58

Somewhat pleased. I do not want to get too excited but I am happy I finished this horrible week on a good note. Even if I did not end the week profitable, the damage is a little less dramatic.

Two Kinds of Fear

There's one root emotion that drives the market with two outcomes. It's either Fear of losing money, or Fear of missing out on money. Now, greed, one might say, is an emotion that drives the market as well, which it is. But at the root of Greed, lies Fear.

 

During my first few months as a new trader, I developed an extreme fear of losing money. That idea is what's kept me in the game so long, especially as a new trader. I'd always cut my losses immediately because I didn't like losing money. Doing that has prevented huge losses and at the same time it's also prevented me from being in a stock that rebounded.

 

I started following a strategy that I believed in and at the same time had the patience to follow that strategy. Once I became consistently profitable, I started developing a fear of missing out on money. At that point, I lost respect for the market and it let me know.

 

Having the patience and discipline to follow a specific pattern that you trade is one step needed. But the kind of fear you have determines where you go. Having a healthy fear of the market is natural and should not be lost in your mind. When I started becoming very profitable in Jan and started losing my fear of the market, I got my bottom handed to me twice.

 

I feel I've developed the discipline to trade highly favorable trades but at the same time I need to regain my fear of the markets. I need to know that the market is the boss and if I lose respect for the market I'll fall apart. Regaining my fear of losing money is what I need to get back.

 

Combining a healthy fear of the market with the discipline and patience to trade your game plan I think is the next step for me to take and is also a winning combination of long term success. I'll probably miss out on a lot of money that I could of made by getting out a little early, but the idea of trying to extract every cent out of a stock, every time you trade, is very unlikely. I'm not here to pick tops and bottoms. I want the bulk of the move and be happy.

Never Give Up

Completely randomly I came across a web site run now through stumble upon. The site has a compiled list of famous quotes from people throughout history about their views on quitting.

 

Lincoln, Einstein, Ford and many more. I read them all and it's given me a bit of hope to keep on keeping on.

 

• "Ever tried. Ever failed. No matter. Try Again. Fail again. Fail better."
  ~ Samuel Beckett
• "Our greatest glory is not in never falling but in rising every time we fall."
  ~ Confucius
• "Only those who dare to fail greatly can achieve greatly."
  ~ Robert F. Kennedy

 

Full list here: http://www.des.emory.edu/mfp/efficacynotgiveup.html

SPAB- Jan Gains Gone

*sigh* I don't know if I can really do this. I just lost all my Jan gains in 2 days. I know what my problem was, way too big of a position size.

 

SPAB opened at 1.90 and I jumped in at 2.00 The bid and ask were pretty damn wide and so the offer hit 2.24 and I had more in my account to cover my last 2 days losses and then some. But, that all quickly went away and it made since because the daily pivot point was right at 2.25 It hit the price twice and basically fell.

 

Freakin' market orders...I put in limit orders on the way down but nothing was getting filled so I said screw it and started putting in market orders and got filled at absolute horrible prices. On top of that I kept getting partial fills so I was charged a huge amount of commission just to get out.

 

I'm at a point where I feel like saying fuck it and just getting some job to work at for the rest of my life.

 

Well.. it's not that bad I guess. I'm still technically up 2% for the year so it's not like I blew out my account or anything. But all that work I put into Jan and now it's completely gone. My self control got tested, twice, and I failed both tests. I guess this is why I'm still a rookie.

 

CTUM- I think I'm going to cry

Where do I begin. I picked CTUM last night for a possible run in the AM. It moved extremely slowly so I moved on and decided not to trade it.

 

I come back later and it's up 22% I buy some shares at 1.50 when I see it spike. Well, It falls all the way down and what do I do? I get out at the bottom and sell all my shares at 1.63 I lost a gigantic amount of money on this trade. I don't know. I'm pissed but more in shock right now.

 

I'm starting to fall apart a little emotionally. I was up 12% for Jan as a whole and now my account is down to 8% as a whole. Biggest loss of my life.

 

For some reason I don't feel too worried, maybe it's denial or maybe it's because I know I can get it back. I just need to take some time and get my head on straight.

 

Thoughts on Exit Strategy

I was very quick to sell earlier out of VSCI. Again, in retrospect it was a beautiful winner. I bailed early because I saw the gap between my EMA and the price. I shouldn't be too quick to get out.

 

What that should of told me was, "hey, pay attention now because it might be time to sell". Instead, it was more like "oh crap, get out right now!"

 

Because of my impulse reaction to get out immediately, I gave up a loss that was higher than what my average loss is -plus I left a lot of money on the table. I've been doing fairly well with my discipline in regards to staying away from non performing stocks.

 

Whether I should give a little more leeway with the stocks I trade when they decline a little is something I'm debating. If I do come across a loser that keeps falling, I don't want to be stuck holding the hot potato.

 

I like my exit strategy but I think it would be a lot more effective in executing when the price has had a relatively long run instead of executing the strategy when it presents itself right after I get in.

 

We can also look at my entry. Was my entry really a good place to get in? I probably could of waited another candle or so to see how it unfolds but at the time I liked what it was doing. Saw an opportunity and took it. Unfortunately, my short term exit strategy isn't quite defined. What do I do when I enter a stock and it declines after I get in? At the time I thought it was wise to admit defeat and get out.

 

I don't know if I'm subconsciously trying to justify my mistake or if there is something I can really do to better myself in the future. I know I can't add every little detail from every trade to make the ultimate strategy which is something I seem to be doing.

 

This was one of those trades that got me by the balls and I didn't know how to handle it. I bailed in fear of losing more capital which I thought was a wise move. I need to protect my capital with everything I can because without it I can't trade.

 

In the end, I think what I need to do is just be aware when my exit strategy does present itself right after I get in. Don't be so quick to get out but be on the ball in case I do need to get out. At the same time, after I've had a nice run and my exit strategy does present itself after a profit has been accumulated, a wise move would be to exit. Exit based on my strategy with a profit.

 

After Thoughts:

My strategy isn't fool proof. It's not perfect and that's something I need to grasp. There will be times when I execute everything flawlessly and I don't come out on top. It's the nature of the beast.

 

I know I'll come out on top in the end. My discipline is what's keeping my profitable and I feel I've been honing in on those skills this year. We'll see what the market brings for tomorrow.

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VSCI- Hit a Snag

Only stock that started to move nicely in my watch list. Retrospect it looks like I got in pretty close to the end of the upward move with an entry of 3.75

 

Next candle had me a bit worried because there was a lot of volume coming up but the stock wasn't making any new highs. It stopped dead in it's tracks at 3.75 and didn't want to budge anymore. The 3rd candle is when I decided to get out. Reason being is because what it showed me is my exit strategy. My exit strategy is when the bottom of the most recent candle starts to run away from my 7 EMA tells me it's a good time to get out. I decided to get out at 3.65

 

The gap between the bottom of the candle and the moving average seems to create a vacuum and the price want's to fall back down to fill that gap (touch the EMA) before it'll take off again, or fall lower.

 

I didn't think twice about selling when my exit strategy was shown to me. I felt extremely calm when I sold even though I took a bigger loss than average. Looking back at the chart it seems to be slightly rebounding off that EMA. Seems fairly obvious now the volume was extremely light on the selling part of the chart and volume is heavily picking up on the buying side. What's done is done.

 

Trade Log Spreadsheet

My spreadsheet that I've personally developed and use on a daily basis. I thought it might help some people out considering how many people have downloaded my Calculator and my Success Notes.

The Basics:

• Win/Loss Percentage
• Average Gain/Loss in Dollar amounts and Percentage amounts
• Profit Per Share
• Percentage Gain/Loss of account as a whole
• Net profit
• And a lot more

Advanced Analysis:

• R Multiple for each trade
• Expectancy
• Profit Factor
• Equity Curve Chart
• Potential Profit per trade
• Potential Percentage gain per X amount of days (you can specify the time period)

I've spent a huge amount of time coming up with formulas to calculate this data. I'm constantly going over my stats to see where I'm at, where I'd like to be, what I need to do to get there based on how I'm performing, etc.

The boxes in Orange represent data fields that can be altered/entered in by the user. Everything else is automatically calculated and doesn't need to be touched. If you need any help with certain fields or don't know what a box means, leave me a comment and I'll help you out. The data that is currently in the spreadsheet is data I've made up as an example.

Help Files for the Spreadsheet: http://www.mediafire.com/?zny3wltgyli

Download here: http://www.mediafire.com/?71gec97eytm

I hope you enjoy my spreadsheet. I find a lot of joy and feel good when I share what I've created with people. Happy trading.

Thanks for subscribing to my feed!

NSR- Nice Bounce

Saw NSR last night when it was down 25% or so during the day. Read a couple article headlines basically saying it was an over reaction on the sellers part. I put it in my watch list and wanted to see if I could get a bounce in the morning, and I did.

 

Retrospect, I did hesitate to get in. I let it move without me because a Pivot Point was approaching and I didn't know if it'd reverse at that price especially with the way the market is now or if it'd blow by. It did blow by and at at that point I put in my order and got filled at a price of 22.53

 

I let it keep running because the offer kept rising and the bid would soon follow. Even though it did fall back a little bit the offer immediately kept jumping. Then we hit resistance which we rocketed by. I was too slow to sell some shares so I didn't and finally sold all of them at 23.10

 

Man, just looked at the chart right now. It's up around 23.60 Left a lot on the table, something I seem to do a lot. There's wasn't really any reason to sell. I should wait until I see a blue candle develop before I get out. What I did was buy strong and sell even stronger with no weakness in sight. I should probably wait until some real weakness develops.

 

Either way, I'm happy with the gain.

Sidelines- Off Topic (Drawings)

Not putting on any trades today. Markets seem to be either stalling or failing.

 

I've been looking at a lot of art recently mostly on www.deviantart.com (love that site) and decided to put some of my drawings on my blog. Spice things up a little bit.

 

I usually draw on days like this one where I'm not active in the markets and/or I put on a losing trade, lol. It's a good tension releaser I use along with going on a nice jog around my neighborhood sometimes.

 

 

 

 

 

 

 

 

(my sis, haha)

 

This one was done with a regular #2 pencil, lots of rubbing, and one of those rubber eraser things. The rest were done with the same techniques except I used a B4 pencil only. I don't really know how to integrate different kinds of light and dark grade pencils into a drawing so I just use one and make it work.

IDMI- Easy Money

Man, this kind of trade probably won't happen again for a while. Once I sold out on my first trade with IDMI I had to put on another position when I saw the stock was up 130% from when I bailed out. I got in again at 2.65 and let it ride until 2.95

 

I think I made around 9 or 10% on this second trade but my position size was 1/4 of what the first one was. The profit was 2.5 times my first one so this was an efficient use of capital, lol.

 

The gap on the chart was when I closed the chart and took it out of my watch list. I added it back in to see what IDMI was doing and that's when I saw the huge jump and got in right away.

 

IDMI Late Trade

Wasn't planning on trading but I was watching IDMI for a couple hours and finally decided, screw it, I'm going trade this. Got in at 2.05 ran up after I got in which is always a good sign. Sold some at 2.11 Fell back down and started making lower highs but higher lows. I don't like those kind of patterns. I sold the rest at 2.08 Not a big gain or anything but good enough for a 30 second trade.

 

Sidelines- Once Again

Markets are horrible for long positions. I woke up 15 minutes before the opening bell and the ISM data somehow got leaked and the Dow fell hard along with the other indexes. I saw one stock I liked last night and it performed badly to no surprise.

 

Not much else going on for me. I'll see what the market brings after hours today.