Bad Ass Trader

Day 1 starts tomorrow.

Trading Plan for the open includes:

I plan on selling a lot of my worthless junk that is going against me.

MOH. Definite Sell. I should of taken profits in this bad boy as soon as it made a lower low (31.49). I have been long since 8/5 @ 30.99.

SYNA calls. I got killed in this one today. It broke out of a bull flag and its testing the bottom of that bottom channel right now. Acting as support. I was very happy when it broke out as a bull flag but making lower lows on the bottom of a channel might not be a good thing. I plan to sell for sure if it breaks below 52.10. I have been in the calls since 8/6 @ 2.65 yucky

FST puts. If it goes above 55.51 I cut it loose. I am down good on this one but it is still with in the descending triangle. My mistake on this one was not picking a better entry/exit point. You want to pick an entry close to where you would consider exiting the position so at worse, you won't lose any cash. This is one I should of waited for instead of going hard at it Monday. I have been in puts since 7/18 @ 2.70 yucky again!

Other current opens:

GIFI Puts. Not happy it appears to have made higher lows. It was a very low action low volume move upwards so I will hold. Stop loss will be around 41-41.50 depending on volume as well.

EQ Calls. Playing the inverse head and shoulders here. Easily managed trade. I like where I stand although there is a moderate loss. 47.50 stop loss. I see a 4 point move or so in this one. Price target of 51.

ENR Calls. Bad entry exit point here again. I would likely cut this loose if it breaks 80 or a little higher depending on my confidence. Will it make higher highs @ 82.67. I hope so.

SCHN Puts. I am still here with this one. Want to see lower lows @ 66.49. Didn't pick too great of an E/E point. Stop loss @ 69.94

XLF calls. My final position which has been a nice winner. I got in on Monday as it looked like the financials were rolling over. Up nicely. I would like to take some profits. If I was available, I would have taken profits right now @ 19.90. We are going to see a spike up likely. If it breaks through 19.90 its going WAY lower. Strong support at 19.90. Stop @ 21.36. Should of protected these profits but I was unavailable.

Current Account Value: 14,412.60
Goal for 1/1/2009: 20,000

One thing about me is that I am never afraid to dream big. Goals should be reasonable and measurable but having high goals only makes you work harder and perfect your game that much more. When I pick a goal, I consider a number of numbers and then write the highest one.