Traveling Part Time Trader – Day 2 Summary

Day Two

one

Well today was kind of a bummer, rainy, windy and cold all day, kind of makes it hard to explore the outdoors in cruddy conditions. Garrison and I still explored Waugoshance point and waded out into Lake Michigan fishing. Didn’t catch anything because the wind and waves were a little to extreme to go out too far. Would for sure be a great place to revisit with a kayak or canoe. We did some research and the fishing is good in the chain of islands, but we didn’t have the best setup or preparation.

We will for sure be back now, it helps to get an idea of what you are up against. We knew going in this would be kind of a scouting mission and our odds of bringing back dinner were pretty slim. The drive in was good for sight seeing as well. Long winding single track through the woods.

two

There are lots of activities and sites to explore at the State Park, but again the weather put a damper on a lot of them. Lily and I walked around on some of the trails and she put on a wildlife show at the outdoor amphitheater for me. Her imagination never quits working thats for sure.

three

Looking forward to heading on to the next destination tomorrow, we’ll be crossing into the Upper Peninsula and moving onto some historic areas so should have some cool sight seeing even if the weather continues to be lackluster.

Trading wise today I’ll call a success, though barely. Its tough to get exited about $555 in profits, but when you consider I “worked” 5 hours, that still averages more than $100 an hour. If you want to extrapolate it out in that type of simplistic manner. Of course calling it work can be a stretch as well. Considering I sat in a coffee shop and watch ferries come and go, and sat with my feet up sipping coffee for 5 hours.

But I did follow the plan I laid out in yesterday’s post, pulled back and used 5 minute time frames to pick entries, stuck to trading my main watch list stocks and kept things tight. Only bummer was again on exits, still pushing and being to impatient on exits. $EXAS, I covered for peanuts about an hour before it cracked. Much like $KNDI yesterday, it could have been a huge win with just a little more patience.

EXAS

But in my self defense the wifi at this Starbucks was pretty mediocre and made it difficult to sit there and wait for $EXAS to break down. I reconnected and saw $350 and got the hell out. Had I not had spotty access I don’t think I would have been that quick to cover. But I may also be making excuses after the fact.

I profited on $GTAT and $DANG, but they ended up being mediocre shorts. BUT, while I normally torture myself over mistakes, I’ll actually pat myself on the back for playing these well. Neither of them wanted to crack so instead of letting them grind back against me, I cut them for piddly profits. And sure enough they both did grind in the afternoon.

DANG

GTAT

I think I hit the solid plays of the day, though I have pretty limited access now, so I’m not really sure what happened this afternoon. I’ll know when I run scans and build watch lists tomorrow.

My “baseline” goal for trading is $500 a day, I hit that, but looking forward to much better results tomorrow. I’ll step up positions sizes a little tomorrow, I did edge a little slowing into adds today and let a lot of trades move without me without adds.

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