Blog Roll: Howard Lindzon | Phil Pearlman | StockTwits Network


. (This is one of many journal entries where I articulate my notes from studying the vast content available within the StockTwits network.  Previous entries can be found under the "STJournal" label.)

This morning I read a lesson from Dr. Brett Steenbarger's book "The Daily Trading Coach" that struck me as important.  It was affirming to read because recently this concept has finally sunk into my trader psyche:

...experienced traders build a career from their work from figuring markets out for themselves and then remaining true to their ideas and to the evidence of their senses.
I will continue to share and learn from others (via StockTwits), but I will not trade those ideas until I figure it out for myself and own it.  If I do not own the trade then I will not own up to the losses; I'll blame it as somebody elses idea. .

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(This is one of many journal entries where I articulate my notes from studying the vast content available within the StockTwits network.  Previous entries can be found under the "STJournal" label.)

Why am I sharing trade details postmortem?

  1. I am sharing trade details because it helps me stay honest with myself.
  2. Sharing also keeps me humble because it reminds me that I am a small account trader and need to manage my risk accordingly.
  3. It helps me put my ego aside so I can learn disciplined habits.
  4. Sharing forces me to articulate and review all my trades.  Over time this process will sharpen and hone my knowledge towards being able to critically and objectively reviewing my trades.
Trade Summary
        The Apple trade was getting short on weakness and the $EL trade was getting short on testing gap up support.  Apple was a winning trade and Estee Lauder was a losing trade.  See the trade notes for more details.

$AAPL Postmortem
$EL Postmortem

        Constructive criticism is appreciated if you see something I should improve on.  Previous trade postmortems are available under the "Postmortem" label.  I share my stock and option trading ideas on StockTwits.
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(This is one of many journal entries where I articulate my notes from studying the vast content available within the StockTwits network.  Previous entries can be found under the "STJournal" label.)

Why am I sharing trade details postmortem?

  1. I am sharing trade details because it helps me stay honest with myself.
  2. Sharing also keeps me humble because it reminds me that I am a small account trader and need to manage my risk accordingly.
  3. It helps me put my ego aside so I can learn disciplined habits.
  4. Sharing forces me to articulate and review all my trades.  Over time this process will sharpen and hone my knowledge towards being able to critically and objectively reviewing my trades.
Trade Summary
        An earnings play where I sold volatility anticipating that the earnings report would not drive prices higher than $145 per share or lower than $105 per share.  I used an iron condor to limit my risk on the up and downside by purchasing puts.  This reduces my profit potential, but also protects me from big down moves like yesterday's $YOKU strangle trade.

$CRM Postmortem

        Constructive criticism is appreciated if you see something I should improve on.  Previous trade postmortems are available under the "Postmortem" label.  I share my stock and option trading ideas on StockTwits.
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