Well after watching LX21’s Investors Underground interview (which is a MUST SEE BTW). I decided to reboot a little to my older more systematic method of trading. I’ve been bitching all summer about small profits and scalping. At this point I think I was being a pussy and blaming the market when I should have been pointing the finger back at myself. In trading there is only one person that creates problems or creates profits, yourself. That being said Gregg’s video really reminded me that one of the best ways to be a profitable short seller is with a more detailed and system like approach.
I’ve gotten tired of chasing moves and trading morning momentum. I’m both better at and enjoy more, waiting for the hype to fade and shorting for bigger moves. Sure its predicatable that you can get a quick scalp off when stocks go parabolic, but its filled with anxiety and just feels more like gambling.
I’d rather analyze, pick my spots and stick to rules and a plan.
I decided to hold both $AVNR and $VIMC short overnight, $AVNR did hit my stop quickly but I held through it, but had a plan. I told myself if it stays strong after the fed news at 2PM I’d exit. I had enough degenerate forsite to see an anomolous spike around the fed meeting.