30
Apr

The Morning Report - It's The Weather Stupid (or Sex Sells) $SPY

I don't mean to be mean, but come people! GDP missed numbers in the first quarter because of the abominable winter we had. When looking at the change in increasing order rates in March versus January & February, we can see that numbers are increasing by multitudes in many areas of business now that the weather has become tolerable including electric vehicles, commercial construction, and rail traffic. In fact, nearly all industrial companies are saying this. Why? Because all those snow days kept us from doing business in January and February.

Every morning I open a browser and start my day by skimming the news and I see all this drama over lower GDP, but I digress. "We Love Drama!" It's almost as good as "Sex Sells." Futures are down slightly this morning as the dram of the day has only begun what with the Ms. Yellen on the calendar today as the FOMC statement looms. If I had to guess, rates will not be raised and morning profit takers will have the afternoon dip bought. But it's only a guess and I will, of course, trade by whatever the tape tells me.

That said, I have decided to spare you the SPY chart and go with Sex Sells instead. Enjoy! 

bulle lady

21
Apr

The Morning Report - Passover AND Easter Make for a Slow Monday $SPY

happy-easter-passover

Happy Easter and Passover to all my members and followers. 

SPY left us with a bullish trajectory on Thursday after confirming the "trader's best friend" early in the week leading into the US three day weekend. Price is firmly above all important Moving Averages and heading back to recent highs.

I don't expect much action as markets are closed in Europe, Hong Kong, Australia and New Zealand in celebration of Easter Monday and a good portion of Wall Street will be out in celebration of Passover which ends tomorrow evening.

For those who don't know, "The first two days of Passover (from sundown of the first date listed, until nightfall two days later) are full-fledged, no-work-allowed holiday days. The subsequent four days are Chol Hamoed, when work is allowed, albeit with restrictions. Chol Hamoed is followed by another two full holiday days."** Today and tomorrow are the last two full holiday days. 

All that said, I expect a quiet day in the markets. It is likely a good chance for markets to consolidate with some light action as it continues its move higher. Meanwhile, if you are looking for a little entertainment this afternoon, I will be joining the crew at BTFD.TV at 2 PM EST. 

12
Feb

The Morning Report - Windows 8 & $SPY

SPY is bullish after getting through the 50 day sma and is heading back to recent highs.

Also windows 8 SUCKS!!!!!!!!!!! And because it sucks so badly, that is all the morning report I can get out! I wasted 30 minutes writing up a report that is now gone. I am staving myself from breaking my laptop in two. Time for a walk and some breakfast.

6
Jan

The Morning Report - Good to be Home on The 12th Day of Christmas $SPY $IWM $QQQ

I hope you all had an enjoyable holiday season. It is good to be home after a week long ski vacation in Maine and Vermont. I closed my year out with gains of 36.94% and I will be resetting my spreadsheets to start a new for 2014.

Market futures are up mildly this morning after consolidating along the 8 ema for a couple of days. Higher prices today will create JHook patterns in the indices. The Q's seem heavier than the others and may take some more time to recover as it corrects from recent all time highs. I will wait to see how things play out before adding any new positions but many sectors look good including manufacturing, airlines and solars. The small caps IWM index did exactly what it should, holding higher prices through the final day of the Small Cap Power Period, December 31, before taking a breather. Here are the index charts. 

qqq py iwm

On another note, today is the 12th day of Christmas, also known as Epiphany. In French tradition we call it Le Jour des Rois because it is the day the 3 kings arrived to see the baby Jesus. We celebrate with a special cake, the Galette des rois which I will be baking later today. Yummy!  galette

27
Nov

The Morning Report - Happy Thanksgiving

Bulls proved they are still in charge of this tape yesterday with the strong moves in the indices. IWM continues to be strong as the Small Cap Power Period surges on and the Thanksgiving turkey gods shine on the markets.

Thanksgiving

 

My focus is not on the markets today as I will be leaving early to drive to New York with my family. Also, I am fretting over the stuffing I made last night. I spent hours chopping and dicing fresh herbs and vegetables...put in a lot of special ingredients, cooked it and asked my husband to put it in the fridge after it cooled. He forgot and it stayed out all night. It's in the fridge now but I am wondering if I have to throw it away and I am feeling rather emotional about the whole ordeal. Three pans of stuffing! Sigh...

Since I need to pack and since my mind is elsewhere, I will likely just place hard stops on current positions and leave it at that. I will be in the chat room this morning for the first hour or two, so feel free to drop by and I wish you all a very Happy Thanksgiving! 

19
Nov

My Rules - A Preview

Each and every trader should devise a set of rules that is unique to that trader. Those rules should keep your emotions from triggering while you trade. We are innately emotional beings and the key is not to deny those emotions but to learn how to keep them out of your trading.

Your rules should also reflect your trading strategy and keep you on point. I have spent some time trying to figure out how to create a post on writing rules but I have finally decided that the best solution is to just share my rules with my members. 

As such, I have decided to send them as an email to all current premium subscribers of thetradingwife.net. Here is a preview for the rest of the world.

My Rules

#1 Check Emotions by following the rules without question

rules

#4 Trade with the Trend - Ask yourself if today is a day to make money, lose money or limit losses

#13 If life events trigger emotions unrelated to trading, set hard stops in any current positions and stay away until emotions subside

#15 At the end of the day, ask myself the questions in my daily eod daily journal.

Zeus-blog-post-keep-calm-follow-the-rules

 

18
Nov

Patting Myself on the Back

At the beginning of this year, @Legacy_Trades asked me to contribute to a list of "Twitter Pros" opinions  for best longs, shorts and year end target - well my year end target was way low but my picks were pretty spot on. The post was initially posted on Shareplanner where I was sharing my work before I began this site. I reposted it here. 
 
Here is a summary of the picks in that post. 
PWER (Power One) was acquired 6.35 per share from a price in the $2s.
WFR changed it's name to SUNE and is now over $13 from under $4.
 
WPRT popped mid-year to $34 and is now at $23.
 
STP has dropped from $1.80 to $0.70
and
LDK has gone from 2.25 to 1.43
14
Nov

The Morning Report ($SPY) - I've one thing to say and that's....

Dammit Janet, I love you!

Markets ripped yesterday as Ms. Yellen, scheduled to be confirmed as Fed Chair today, said that she supported continued easing amidst a sluggish economy. Not only did SPY hold the 21 sma beautifully but it then broke out to new highs with a bullish engulfing candle putting in a strong Left/Right combo. 

Well now, how do you like them apples? All you media doohickies who were causing taper tantrums with your made up stories were wrong. How can I not say it? I was right and you were wrong. Doh! 

That said, the Q's are struggling this morning after an atrocious earnings report from CSCO. All in all, I imagine we will see some volatility during Janet's hearing and some profit taking after yesterday's big move, but I suspect in the end, markets will show continued strength.

Meanwhile I will be out of the office this morning and so I will set hard stops well out of the way. I wish the best of luck to Janet and I will see you all after lunch. Here is the SPY chart followed by a little video of a song from The Rocky Horror Picture Show featuring Susan Sarandon and Barry Bostwick. Enjoy!

spy14

21
Oct

Mid-Day Entertainment

Thanks to Goofy Golfa for this great video.

20
Oct

A review of TheTradingWife.net by Grove Trades

Many Thanks to @Grove_Under for this review of my work. You can access the piece on his blog site directly here.

Trials and tribulations of a trader

Friday, October 18, 2013

Review of TheTradingWife.net

Now that enough time has passed and hindsight analysis becomes 20/20, it's clear that joining Danielle's TheTradingWife.net chatroom had a big impact on my overall swing trading performance, as discussed in my prior two blog posts here and here.This is my unsolicited review of her service.
BACKGROUND

I had been a follower of Danielle via @thetradingwife on Twitter for a while and knew she also had a credit spread options service.  So when I started exploring various credit spread services around the end of 2012 and contacted her for more details, I found out she was no longer at that website.

She said she was planning on starting her own service, so I got on her trial when it opened up.  In hindsight, it was a good serendipitous series of events.

Since launching her service earlier this year, Danielle has been positively mentioned by @the_real_fly on his ibankcoin.com website back in February, as well as profiled in this month's (October) Active Trader magazine.

IT CLICKED FOR ME, BUT...
My belief is that there are no secrets with successful trading.  Everything you need to know is already out there in the public domain.  I believe one of the biggest challenges of successful trading is to "simply" discover what methodology works for you, as well as having the proper mental attitude.One way to find out is to just keep trying various techniques and/or chatrooms in a methodological fashion until you find something that works -- but before you run out of financial and/or psychological capital.
I had studied many swing trading methods thru the years, so I am very much aware of the many different variations of trading.  However, I had yet to package up a method that I felt comfortable with, which also aligned with my personality and style and produced consistent results.After joining TheTradingWife.net and learning her overall process and methodology, I was surprised to learn how well her methodology resonated with me and with my own particular preferences I've picked up along the way.  And after nearly a year, my performance trading her method speaks for itself.  Note that my results are not based on her alerts -- I wanted to learn how to fish, not simply be given it.  As mentioned earlier, my actual results are here and here.Will it work for you?  I have no idea.  And no one, except for yourself, will know for certain until you give this or any other trading methodology a fair shot.  If the overview below seems interesting to you, then it might be worth investigating.

 

MORE DETAILS ABOUT THE METHODOLOGY
You can see many blog posts and charts on TheTradingWife's website to give you an example of her swing trading method.  In a very simple nutshell, the swing setups are based on a combination of these criteria:

 

  • Going with the daily 8 ema trend.
  • Candlestick patterns such as left-right, belt hold.
  • Chart formations such as rounded bottoms, J-hooks, and frying pan bottoms.
  • Riding that trend until an appropriate signal appears to exit the trade.
  • "Trade small and often"
  • Position sizing no more than 10% of portfolio (sometimes half size), and generally, risk per trade much less than 1% of portfolio.
  • Importance of staying out of the market during unfavorable conditions.
  • Understanding emotional and psychological control when trading.
  • For example, she will pass on a trade if she feels "emotions" about a particular stock. The way she explains this as it happens really hits home with me.

 

THE CHATROOM

This is not your typical chatroom full of emotional chest pumping daytraders shouting out boom at every opportunity.  So if you're looking for that kind of excitement where everyone is hi-fivein' and hootin' and hollerin' after "nailing" a few penny scalp, this is not the place for you.TheTradingWife's chatroom is a much more relaxed and congenial place for those looking to learn how to trade for bigger % gains on a swing trading timeframe.  There's a good mix of content in the conversations -- heavy on trading obviously, but also open to current affairs, music, humor, etc. during slower periods.  It's like a friendly neighborhood pub.

 

BENEFITS FROM THE CHATROOM
  • First of all, access to Danielle in the chatroom throughout the trading day (and often into the night) regarding any question you may have.
  • In addition to live interaction via the chatroom, receiving realtime email alerts on stock entries and exits are great for those not glued to their computers.
  • On occasion, she'll launch a video chat so that you can view her charts and comments.
  • Great contributions from other members, but especially from the prolific and very knowledgeable "G.G.", who posts relevant and timely comments/charts throughout the day -- from very early morning to often late into the night.

 

These days, I'm not around as much to monitor the chatroom in real time, but having a transcript to review is very valuable, especially since Danielle does a great job commenting the reasons why she took (or didn't take) a particular entry or exit.  If you take the time to study this the transcripts, there are usually some solid lessons.

 

THE BOTTOM LINE

Check out her closed P&L performance on her blog here.  And her open positions are listed on the top of her homepage.  I've watched enough of her trades in real time over many months to know these results are realistic.  She prides herself on transparency.I'm not sure if many are even aware of the service she offers, since she doesn't really market or hard sell her chatroom -- it's just not her style to boast with tweet after tweet after booking a +30% trade, to join her room.  But maybe she should do just a little more self-promoting so that others could learn and benefit.So if you're truly interested in working hard to learn how to swing trade based on her successful methods, she is a willing and capable mentor who will take the time to teach you in a congenial and supportive environment.  I'm just one of many who have had the privilege of benefiting from her mentorship.

 

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