This week I received several inquiries regarding my trading in $HAIN (Hain Celestial Group). I took the time to review my twitter messages regarding this topic and it became clear to me that the questions were warranted.
There has been a lot of debate about the efficacy of using twitter to relay trading information, and how much may be lost as the days roll by from an initial posting of trade information. For this reason, I take the time to do these blog posts to help bring clarity to my trading. Let’s face it, at times we get very focused on a trade and the updating to twitter is certainly not a priority.
However, I can see where the frequent “holes” in trade information can lead some to get confused or unsure on where I may be at in a trade. With $HAIN as example, I thought I would provide the following information that may help:
- I am long $HAIN in the swing account with a Collar. This collar consists of being short the June 55 Call and long the May 50 Put. This cost me $.20 cents to put on last week.
- I do daytrade this stock as well, and have done so 3 times over the past 10 trading days. These trades are done within my Daytrade account and so I have a very specific timeframe and profit goal for the trades.
- I do try to be specific when I do a trade, to provide timeframe information, but no doubt I fail to do this at times. I will continue to work on that.
- If you are utilizing twitter to obtain trading ideas, be sure that you trade YOUR PLAN as you will frequently have elements to your trading that do NOT match up to other traders. Trade. Your. Plan.