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Author Message   Entrepreneur Kurra Bewarse Username: Entrepreneur Post Number: 3936 Registered: 05-2011 Posted From: 24.164.46.35 Rating: N/A Votes: 0 Posted on Wednesday, January 19, 2022 - 4:20 pm:    Blue Chip Trader - - First Hour/Morning Notes and Portfolio Holdings Markets pulling back in despite what looked like a strong start to rally back after its recent sell off. I still like the prospects of the market rallying after recent extremes in the cumulative A/D lines yesterday, but will take small losses where necessary to keep risk under control. The VIX is rising around 22/23 which has me favoring more of a "scale in" approach to all of my trades given the increasing volatility. It also has me being a little more lenient with support and resistance levels, making sure I give stocks enough room to wiggle. As I mentioned yesterday, current market conditions are favorable for "two-sided trading." So, it's not about "being right," as the increased volatility and skittishness is giving both Longs AND Shorts opportunities to make money. Opinions about going higher or lower don't matter... The key is having the discipline to lock in partial profits and keep losses to a minimum. Due diligence is also required on your part during "fast and loose" market conditions. I post a risk parameter with all of my trades that I adhere to. I never adjust my risk. I just take the loss as planned. It is quite possible I am too busy or not on the desk when my risk parameter is met and cannot get a timely exit posted to the site. You need to still stick to the plan to minimize your losses. Longs: IGV, LCID, GLD, SBUX, DDOG, COP, QQQ Shorts: IWM, SPY, XLV, PTLO, META OUTS: Recent losses taken in DE and GM (yesterday).