Hey Everyone, 

It's been a while since I have made a quality blog post and I do want to get back to doing it more often if I have time.

As I talked about in my last blog post, I have a weakness of being too scared to trade with big size because I have a fear of losing a lot of money. I have been working on increasing my size lately and I am happy to report it has been going very well. See my latest trade on $GRPN from last week, I used much bigger size than I am used to and actually did not even get filled the full 8k shares I wanted to make the trade with. I am pleased I managed to stay in the trade and made at least over 5% on it. My average winning trade is at 3.5% right now which means I usually take profits quickly because that is what I am comfortable with. And No, 3.5% gains is not Scalping. Guys, scalping is literally taking 5 - 10c moves on high priced stocks for gains of less than 1%. I do scalp from time to time though because sometimes you just have to take what you can get, especially in this market. I'd rather take a scalp then turn a winning trade into a losing one, and this is a reason why I have a very high win ratio. I'm not as comfortable as people like Sykes, Grittani, and Mark Crooke to name a few. 

About the current market, I think it is pretty tricky. If you are new, the best advice I can give you right now is to be extremely patient. Do not take a trade because everyone else is. Wait for an entry price that you know has serious potential to make a respectable gain. I got used to shorting a ton of stocks while everything was crashing earlier this year, but now the markets have actually been very strong since early last week. The SPY retested the lows of 181 and has pretty much been straight up since, other than a small red day on Thursday. I definitely took advantage of that red day and shorted some larger cap stocks that I knew had plenty of room to fade back down with the market. Tim always says wait for the first red day, which is something I definitely believe gives you an edge in shorting. I shorted AAPL, TSLA, TWTR, FIT, GPRO and the SPY itself. I decided to hold all of them overnight anticipating the long overdue gap down/correction. I covered them all in the morning for profit except TWTR which actually took me for a ride at first. I had a stop loss set but luckily it never got that high. I got greedy on the SPY and held way too long and ended up covering for much less profits than I should have taken because it bounced back and closed much of the gap. I also got greedy on GPRO and ended up taking a scratch instead of a pretty nice profit in the early morning. I am glad I covered all of those positions on Friday because today the markets resumed the rally. SPY topped out right under 195 which makes a lot of sense (check the daily chart). What do I think happens next? I don't know... who cares? Like Tim said in the latest Answerstock, as a daytrader we can make money everyday while 95% of people in the stock market are still probably down huge from any 2015 investments. I will continue to be patient and daytrade the way I have found success in, and I will take those little swing trades overnight when I know the set up is greatly in my favor.

GLUU has been an interesting one. It has rallied very nicely, slow and steady. I would be impressed to hear if anyone managed to swing it long all of this time. I have actually been waiting to short it because it hasn't had any major strength in any given day for me to want to go long. Today it is red, which may signal the beginning of the end. I want to see it take out 3.60 for a short, and then it should fall to 3.40s and then down to 3 test and probably lower once all of the hype behind it fades off. It is simply overvalued up here. 

In other news, I bought a BMW over the weekend as my new daily driver. I got a great deal on it used so i couldn't pass it up. The plan is to sell it for more than what I paid for once I get bored of it, or just keep it until I can afford a much better car in a few years because it only has 40k miles on it with great history. I put up a little video on my Twitter of me driving it earlier today :)

Good luck in trading tomorrow!