09/23/16 Recap

Was a slow Friday for me.  I traded AVXL.  Thoughts on my great week.

AVXL was my overnight short.  Unfortunately, it did not gap down as much as I hoped but it did pull nicely at the open.  I covered for a whopping $82…lol.  I did not want to hold this and risk it basing and running on me again.  I have had a great week and I did not want to ruin it.  So I let my P&L influence my trading a bit on this.  Ideally I should have covered 1/2 into the morning pull to reduce my risk and then hold the rest with my stop on r/g.  That trade would have worked out nicely.

It has been a great trading week for me.  I ended the week up $3,772–after commissions.  One great thing is that I did not have to pay for a single borrow all week!  Everything I traded was easy to borrow in at least one of my two accounts.  That saved me a lot of money in fees.  Also, my consistency was spot on.  Sure, I had a few less then ideal plays like AVXL and some epic play misses like PTCT, but I traded safe, respected my stop losses, and even worked on adding to my winners.  I did better at sizing this week such as on my many plays with SRPT.  I didn’t have any home runs, but I hit a lot of singles and doubles.  As Nate at Investors Underground says, singles and doubles add up.  It’s consistency that is the key so that one day I am hitting more home runs.  @modern_Rock always points out:

252 trading days per year:

$200/day = $50k/year

$400/day = $100k/year

$1k/day =$250k/year

$4k/day = $1M/year

slow & steady & CONSISTENCY!”

Check out Nate’s article on consistency here!  It is well worth the read.

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