Day Trading Trading Through The Rust

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Tried to short YM 23827 hoping for the selloff to continue, then I began suffering from FOMO again and tried going long a few times. I made back some of my loss with my last and final trade that captured 49 points. I will call today's trading a small victory, despite being down 1,177 on the YM, I was able to manage my last trade and stop trading when the market appeared to be stuck in range/chop territory. YM being under 24k I believe to be significant, hope to be in the zone when/if the market sells off further, I'll be back at it on Thursday.

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Livermore Quotes

Some of my favorite Livermore quotes from the list below are #1 #2 #4 #10
Because I am too lazy to compile my own top 10 Jesse Livermore quotes, I pulled these from | Twitter @jfahmy

1) The stock market is never obvious. It is designed to fool most of the people, most of the time.
2) Play the market only when all factors are in your favor. No person can play the market all the time and win. There are times when you should be completely out of the market, for emotional as well as economic reasons.
3) Do not use the words “Bullish” or “Bearish.” These words fix a firm market-direction in the mind for an extended period of time. Instead, use “Upward Trend” and “Downward Trend” when asked the direction you think the market is headed. Simply say: “The line of least resistance is either upward or downward at this time.” Remember, don’t fight the tape!
4) The game of speculation is the most uniformly fascinating game in the world. But it is not a game for the stupid, the mentally lazy, the person of inferior emotional balance, or the get-rich-quick adventurer. They will die poor.
5) The only thing to do when a person is wrong is to be right, by ceasing to be wrong. Cut your losses quickly, without hesitation. Don’t waste time. When a stock moves below a mental-stop, sell it immediately.
6) Emotional control is the most essential factor in playing the market. Never lose control of your emotions when the market moves against you. Don’t get too confident over your wins or too despondent over your losses.
7) All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis.
8) Watch the market leaders, the stocks that have led the charge upward in a bull market. That is where the action is and where the money is to be made. As the leaders go, so goes the entire market. If you cannot make money in the leaders, you are not going to make money in the stock market. Watching the leaders keeps your universe of stocks limited, focused, and more easily controlled.
9) Failure to take advantage of a serendipitous act of good luck in the stock market is often a mistake.
10) There is nothing new on Wall Street or in stock speculation. What has happened in the past will happen again, and again, and again. This is because human nature does not change, and it is human emotion, solidly build into human nature, that always gets in the way of human intelligence. Of this I am sure.
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The Week Ahead

Posted 23 April, S&P 500: Dynamic chart continues to update price
I expect the market to be choppy this week, a lot of eyes and money will be waiting for Apple Financial Results - Q2 2018 May 1, 2018 at 2:00 p.m. PT / 5:00 p.m. ET 

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Patient Bear On Sidelines

April 18, 2018 

Pundits getting giddy on the market. I'm keeping my eye on ES 28,000 as possible resistance.
As long as companies are making money, does that equate to a rising market?
20/20 hindsight is fascinating, in the next bear market, what will be the smoking gun?
As I type this, I know I am still biased to the downside and have little interest in risking capital to the upside. 

I am still a bear on the sidelines, with the exception of 
WATT Aug 20 strike Call Option.

ES Daily

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Retail Trading Is Not Dead...Yet!

Been a while.

  I've gone silent the past few weeks, I have given myself time to think about the past 12-14 months of my trading experience. The would've, could've... has become the ongoing mantra for Trin Café much like most traders who's performance did not match their expectations. My bias to a market selloff (bear market) left me on the sidelines as I watched the market rise for much of 2017. When I did trade, it was against the overall bullish trend... I continued walking head first into bear traps. 

Stubborn or Bad timing? 

  Back in February, I posted the below chart I intended on updating on a weekly basis, a car crash and personal family matters shifted my priorities. The size I was trading with at the beginning of 2017 was 3-6 times the size I should have been trading with, 20/20 hindsight, I felt like I was going for the market's jugular (FOMO). Politics aside, I expected the volatility to dramatical increase the day after Trump was elected, I was trading as if I wanted to be the first trader to identify the housing bubble back in 2008. I know I have to take a step back mentally and physically; a complete reset for how, what, when and why I put a trade on. 


Trading View, I'm still bearish.

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