Women in Trading: Trading on a Snow Day
Hello Tackle Family!
What’s good Tackle Traders! For those on the East coast I hope you are enjoying your snow day today and to you folks further north in Philly all the way up to Boston I’m sure you’ve seen enough of this snow. So much for spring, right!? In any case, it’s good to be home on the day that the new Fed Chairman Jerome Powell announces the rate hikes. Although the market is expecting a quarter-point rate hike and possibly 3 more for the rest of 2018, I’ll be keeping an eye on volatility on a day like today. I am holding off on getting into any new trades until after the announcement at 2 pm EST. Today is more a trade management kind of day. Tightening up the stop losses and watching how the market reacts to the news this afternoon.
My flight to Ottawa got canceled this morning and my kiddos are home too so what do you think we are going to do today? If your answer is shovel snow, build a snowman, drink lots of hot chocolate and cuddle up on the couch and watch Netflix you are absolutely right! But not before we build a watch list of their favorite companies and enter some trades! They decided to step into my office this morning (the kitchen table LOL) and by default, I had to put them to work. I remember as a little kid going to my dad’s business and he would always put us to work. Even if we were there for a few minutes he’d have something for us to do. I know earlier mentioned that I was putting off entering new trades but there’s something about that ding on TOS when an order fills that makes me want to hit confirm and send every day. Thank God for paper trading! It’s the next best thing to live trading. Unless you are new, then paper trading is the BEST thing!
So this morning before we’d even had breakfast I decided to have a fun activity with the kids and have them name their favorite companies. They didn’t know why I told them to do that but I was just trying to keep them quiet at the kitchen table as I got my day started. Then my ah-ha moment hit me. ” I’m going to have them place the trades”. See, up until now, whenever they wanted to buy something, for example, download something on iTunes, they first had to tell me the price of Apple before I allow them to buy anything. Now that they are a bit older, I figured “let’s actually click the buttons!” So they went to work! And by work I mean if they couldn’t find the stock symbol on TOS they had to go on Google to do the research. My son lives on gummy bears so as we searched to find out if Haribo is publicly traded, we found an article on Huffington post describing how the employees of the company are forced to work in terrible conditions. Not mention the animal skin used to make the gelatin. Needless to say, Haribo did not make the cut and I doubt we’ll be eating gummy bears anytime soon. According to the article, Jason Haribo is horrible to people and animals.
The final cut included AAPL, GOOGL, CVS, KO, NFLX, CMCSA, VIA, DIS, FB, SNAP, AMZN, CMG, PEP, ADS and NKE. Once we had our list, we looked at the charts and I gave them a very basic understanding of candlesticks and what stock is heading up vs that which is heading down. Once we were done with charting, I made one trade to show them how it’s and after that, they took over. My daughter is 13 and after about 10 minutes she was about done with this exercise but my son, just like his mama could not get enough of that ding every time he hit confirm send so we carried on. LOL. I got another ah-ha moment and grabbed my phone to record him putting on the trades to show just how easy it is to enter trades and also to capture the emotions we all experience when we first started trading. Here’s a little clip of what we did today. Enjoy!
Not sure if they will fully retain what we did today but I plan on making this a monthly if not a weekly routine of having them buy and sell stocks and have them keep track of their stocks. Hopefully, they’ll see the value in this and will want to actually take their own money and buy some shares of their own.
A little update on a stock I added to my watchlist a month ago on the blog I wrote about Do’s and Don’ts of Trading: Match.com MTCH just keeps on hitting new highs and is setting up for another run. Check it out! I’m off to shovel snow now… until next time, be safe and enjoy the spring weather, wherever it is.