Jul 30, 2007

One and done

Went short RSH today off a break of the 11am bar low (15-min), but ended up selling all on a break of the 12:30pm high (15-min) for a very small loss. Setup looked great... just didn't happen. That's how it goes.

I wanted to short SFL (10-min, 10:30 bar) but the low volume and wide spread at the time of entry made me hesitate. Would've been a nice one. Can't wait till tomorrow!!!!

6 comments:

richard said...

that's funny, I said this weekend I would try some trades in your style this week, and RSH was one I picked today. At least I know I didn't do it wrong!

It was just a really rough day, in general. Most things I tried didn't work.

OONR7 said...

richard: my system's a bust :)
RSH is practically a bread and butter type of trade especially with the shooting star as an entry. I still appreciate the kind and gentle way it let me get out of the trade relatively unscathed. Better luck next time.

Anonymous said...

Same here OONR7, I traded RSH (short) with about 30cents loss, it's just look too good to be true on the chart.

It's not good feeling that whole market is up 1% and my cap is down..
but I guess that's what a day trader should take.

-DT

Jerry said...

Today, many gappers (up/down) went down, then gone back up at around Noon. (ie., IR and SFL which you traded)

As Monday is usually a weird day especially after the tumble last week. So maybe tomorrow is a better than for stock to goes its normal way.

Flatwallet said...

Congratualtions on the good streak so far. I hope the next one is at least twice as long. And lets start tomorrow.

OONR7 said...

DT: I know the feeling. But there have also been plenty of times when the market's been down big and I'm up or vice versa.

jerry: I typically don't like Monday's either (I didn't get to trade SFL)

flatwallet: thanks... just lookin' for good trades.