I had quite a morning day trading today. The following is a transcript of my Tweets sent via Stocktwits as I traded RIMM. Since it all happens so fast, it is difficult to really give followers a picture of what I’m actually thinking, so below I’ve added what I was thinking at the time, and since I am not very smart, I have added what I assume a more prudent trader may have been thinking in the same situation.
The trading day started a little rough, and some guy prosed the following question;
9:44 am – “$SPY how do u day trade when no trend?”
To which I sarcastically replied:
9:44 am – @victorcharlie very carefully
What I was thinking – Hm… good question… today might suck…
Prudent trader’s thought – you day trade with a nimble mind, a sharp eye, and tight stops
9:46 am – $RIMM is running
Me – I’m going to catch a big fat piece of this run.
Prudent trader – If the stock market allows, I will take a calculated entry based on several well-honed criteria.
9:51 am – $RIMM @ resistance @ 78.13
Me – Yesssss, if this breaks, I’m in!
Prudent trader – Not yet… wait for it…
9:55 am – And now she’s dropping $RIMM
Me – WTF? This is BS. Good thing I didn’t enter.
Prudent trader – There was no way that run was going to continue. The tape knows all.
10:00 am – Looking to short $RIMM below 77.61…
Me – I’m going to make money day trading today if it kills me.
Prudent trader – Having witnessed previous resistance at this level, it has now set up as support and a break of this level may cause it to run down.
Full Time-Line of Trade Tweets
10:02 am – Hm… nevermind on the short with the $SPY acting behaving the way it is.
Me – What is going on with SPY? Is it drunk? Am I?
Prudent trade – Choppy day… There may be no day trading for me today…
10:04 am – $RIMM I lied, shorting w/ tight stop
Me – Fuck it, I’m in.
Prudent trader – “F” it, I’m in.
10:06 am – $RIMM Target at Friday’s high coming up…
Me – I’m getting some money out of this ASAP. Mmmm easy money.
Prudent trader – Previous day’s highs and lows often provide support/resistance. This is the first logical place to take some profit off of the table.
10:09 am – $RIMM took some profit @ 72.10, new stop at B/E.
(clearly I meant 76.10 here, but tweeting and day trading (day twading?) can be a pain in the ass)
Me – ka-ching!
Prudent trader – Nice trade according to plan, where’s my next target?
10:13 am - $RIMM approaching day’s lows.
Me – Woot!
Prudent trader – WTF does “Woot” mean?
10:15 am – $RIMM stop moved to 76.92.
Me – don’t want to lose my hard earned monies
Prudent trader – having previously had a difficult time churning through this level, it appears to be significant, and a break above will likely mean a short term reversal
10:32 am – While waiting for $RIMM to move, took a short in $AMZN, but stopped out for a loss. Looking to short $AAPL below the dollar mark.
Me – Woops. F AMZN. Dicks.
Prudent trader – AMZN appeared to be dropping with the market. Oh well, now we know otherwise. AAPL appears weak though, and may drop here…
10:35 am PS Raaaar I’m a bear. Right now… A shark in bear’s clothing.
Me – I’m hilarious
Prudent trader – The market may be starting a downward trend here. I am short on the market until it proves otherwise.
10:37 am – And for those of you who love dead whales (you know who you are) – http://su.pr/2jFWwI
Me – Omnomnom
Prudent trader – Sharks love the occasional dead whale for dinner. Observe:
10:38 am – Short $AAPL… stop above the dollar
Me – Finally, I knew it.
Prudent trader – That was a well taken entry. I will keep a close stop on this one since the market still seems tenative.
10:42 am – Still short on $RIMM, just got in on $AAPL – going to let these one’s run with the market for now.
Me – Oh yeah, we’re going down today.
Prudent trader – It seems the market may be setting up to trend down today.
10:59 am – Out of $AAPL @ B/E. Looking to get out of $RIMM above 76.25.
Me – Shit shit shit. WTF happened?
Prudent trader – It appears the market is either reversing or its going to be a choppy day. Watching closely…
10:59 am – Out of $RIMM
Me – Screw this, I’m going to go play Xbox.
Prudent trader – 1 winner, 1 loser, and 1 B/E; not a bad bit of day trading for such a horrible trading day I think I am out for today. One of my day trading secrets is that 1 big win is a good day.
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