Aug 15, 2008

Solid day

While I'm not going to post charts of my ECA and HAR trades (just don't think they're very nice) I can say that both at least provided a good day's pay. Shorted ECA off a break of the 10:12 bar low (3-min) and exited as it bounced at the $66 area. I was a little greedy and thought it would touch the fib. ext. Instead, it bounced right above it.

Shorted HAR on a break of the 12:27 bar low (3-min) and ended up scaling out to reduce risk as the trade started going against me. Managed to take 'dinner for two' profit out of this trade.

This has been a very nice couple of weeks and I'm encouraged by my results. I just hope to keep it going. I'll be off on Monday and possibly Tuesday so I'm glad this week counted.


TraderAm said...

Good trading 00nr7.

Couldn't really get going myself. Just out of interest, do you tend to exit in 3 stages most of the time, or does it depend on the chart pattern etc. ?


OONR7 said...

traderam: I think what I like doing is scaling out when warranted off the 3-min chart and exiting the rest of the position based off the :15 timeframe. So, in reality, I should be exiting in 2 stages but sometimes I just want to take profit.