ZSG Trading Blog

I’ve had this up and running for a while, but no entry… shame on me.

Right now, my trading is stinking. I’ve been hanging on to a few trades that went TOTALLY south on me (FSLR and MER). Both went in the opposite directions and I took the whole loss instead of getting out of them. Problem: No Trading Plan for these positions.

Also right now, I have a 2 positions (BIDU and RIMM) that are near an exit point. But then again, they could move in the direction that I forecast and I could make out okay. Worst thing is that BIDU was up +$200 and I never set the Stop Loss and now it’s -$1,100. Yeah, that hurts. Tomorrow should tell me if I am getting in or out. And if I do get out, it should indicate a reversal (Bull Flag) of the current trend and I can move on the other side and make money there.

Right now, my ONLY trade that is making me money is 2 puts on ZION. It’s looking like it’s going to hit a bottom in a while and I am up around 20% or so. This is one of my Zombie trades. I am anticipating, having a trailing stop on this and letting it make money and when I get stopped out, fine.

THe worst thing right now is that I am strapped for Capital. I have my money tied up in positions that are on the turning point. Problem: No Overall Trading Plan

I am in my second Credit Spread (Bear Call Spread) with EBAY. I need it to stay below $32.50 by Friday for a 28% gain. Should be easy to do given that $31.50 is a good S/R level and that people aren’t spending as much on stuff. Especially crap on eBay, although I am currently selling my crap on Ebay.

Tasks: Reveiw my current positions to make sure that i know my Entry/Exit points. I need to also look over the weekend material to create a Weekly WatchList of stuff this week.

I did take a loss on DBA of around 21% since it was up today and it expires on Friday, it’s not a big mover, so I didn’t want to lose anymore than I have done to this point.