Columbus Day

Monday was a slightly slower day on the markets, what with many states being off for the day. But as we know, there’s always something to trade, and even if volumes were down a bit, the markets didn’t disappoint. Here’s what happened on EOG:

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Some Bread and Butter

Over the past few weeks I’ve been guilty of posting the bigger winners of the day. Four-figure wins garner more attention and apparently it’s what people like to see, so I feel mostly justified in favouring them here. But it’s important to remember that the bread and butter of the business is the regular smaller trades that come along day after day. Trades like this one:

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Managing Multiple Trades

Well that was a busy morning. It all kicked off at the same time, leaving me with a couple of trades to manage at once. One of the reasons I only trade the morning session is because I am not blessed with great intelligence or brainpower, so I have to try to use what little I have as best I can. I’m fresher and more alert at the start of the session, so am better able to juggle a couple of trades at once. Here’s the first of two trades I was running concurrently:

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Trade, 4th October 2019

Here’s a quick TSLA trade to round out the week:

A regular pattern with a clear entry. I didn’t like that MA much, but we play the hand we are dealt sometimes. Everything else was good. I had 229 in mind as a target, so when it first failed to reach it I was out with just over a grand in the bank. As it happens, the price did eventually reach there, but had I waited for that to happen I would have been shaken out for a much smaller win beforehand. Knowing TSLA, it was better to take the money and run.

A Big Loss

As regular readers and readers of my books know, I like to keep my losses small. Really small. A few cents maximum. If a trade doesn’t work out, I’m outta there sharpish. Which is why today’s losing trade was a bit painful, because it went further than a few cents against me. It was all my fault.

But I’m getting ahead of myself. First, here’s what happened with AMD:

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A Disney Slide

I have mixed feelings about Disney. I imagine I am not alone. As a consumer and particularly as a parent, I have to admit their content is amazing. Who doesn’t love Toy Story? My youngest grew up on Frozen. You have to have a heart of stone not to enjoy a day at Disneyland. The list things to love coming out of that studio is virtually endless. Trouble is, they seem to be buying up the whole entertainment industry. They own Star Wars, for goodness sake. That’s…creepy? Worrying? I don’t know. I try not to think about it too much. After all, I certainly have no influence over it, and there’s no point fretting over things outside our control. Whatever my feelings about a company though, I put them all to one side when they turn up on my watchlist. Here’s what Disney’s chart did when it arrived on my list:

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