I had an 11am appointment and didn’t pull the trigger on a bunch of great set-ups this morning for the hour I could devote to trading.
Today’s Watchlist: AMLN, BAV, HLS, HNT, KFT, TAP, VRX, WYNN, CHU, HOLX, LM, and MYGN.
TAP and LM were the main stocks in which I sat around twiddling my thumbs – scared and doubtful – as they made nice moves outside their opening ranges. This is one area that doesn’t translate for me between paper trading and real cash – even small positions. I just did not experience much hesitation with my simulated trades, especially recently.
Softball season started last week – I’m on a new team, a guys 40 and older league. I have the same nervousness and caution; it’s nice to be humble but my trading and softball playing could use a little more cockiness.
Anyway, tomorrow, along with focusing on trade management, I will be very mindful of my stuttering entries, especially in the first hour of trading during which my startegy offers some of the best moves.
I’m going to consider making a scratch trade to start the day off with – just to get my feet wet – the idea is not the perfect entry or exit – just a swing at the ball to get the ice broken on the day, ideally just a quick little winner that lasts a minute or two.
Last, I found a office space for $250 to rent – it’s got a window and glass door to let some light in on a second floor with a decent view. Commute will be 15 minutes, but less than 10 on the same side of town from where our 3-year old gets dropped of for day care (he’s still going 2-3 days a week). Just escaping a 2.5% city income tax covers the expense of this in many ways. I was considering a bigger office just minutes away from my home in a nice little trendy downtown area, but the rent was twice as much. It had two inner offices so I could get someone to share it with me but this other space actually is more “suited” for me and less of a risk (also just have a six month lease to start off with…)
…so hopefully getting out of my home office will help both my trading, my writing consulting business and my marriage to boot (oh man, I know my wife is happy to get me out of the house.)