Shogun Trading

The morning turned out pretty good today despite the fact that Geithner was to speak about new regulations right at the open.

We did start with some really nice gapper stocks that proved themselves to be movers early on. On our watch were RIMM, POT, SKF and OIH to name a few.

The market started off by breaking to the short side giving us a few scalps. We were not ready to trust the moves yet so we stayed on the conservative side till around 9:40 when the market started its V bottom and trended up. We were able to catch a really nice move on AAPL for almost a point. We also focused on SKF once the market started to move. Picking up another point before 10:30 :)

Around 10:30 themarket got a little choppy on us and we switched gears. The afternoon turned out to be much of the same. A few good scalps on OIH, X and AAPL. Those .25-.50 trades really do add up at the end of the day. We kept our stops tight and sat out when we needed to. It’s really not a big deal to have a slow afternoon when you did so well in the morning.

One of my goals for my new traders is for them to learn patience when the market is safe to trade. I think today was one of those days when I saw that my beginner traders are getting it :) Here is a quote from one of my traders…

[10:34] <Trankin> up .81 for the day,

[10:36] <Trankin> the pool is calling me every day!! good to get done early

Not bad for an hour of ”work”.

Until tomorrow, happy trading!