Sep 22, 2008

ABX, GG - Long

Had a nice day today even though I had to cut my trades short to handle some things. I also messed up my GG order a bit as I went to place my stop I actually entered a buy order and doubled my position. That actually helped me since I needed to run early. Started off by shorting ASML (11am bar low), exited some at 1R then the rest at break even before it continued down to the fib. ext.
Went long GG on a break of the 12:15 bar high, scaled out at 1R and then exited the rest at around 1pm. Missed a nice move after that.
Entered ABX on a break of the 12:15 bar high as well (figured they would both move together since they were Gold stocks). Entered at the same time as GG and, yes, missed a nice move.
But I was happy with my profit for :30 of work.






6 comments:

TraderAm said...

Hello 00nr7.

Nice trading. Funnily enough I was in similiar situation > I was able to watch the market earlier on, but had to leave from work at around 12:15 (US time), so I missed those nice entries on GG and ABX.

Just out of interest, have you tried IB timed orders ? This would allow you to keep a position open and then close it say 5 mins before close. So it wouldn't matter if you were unable to get back to the market.

bl said...

Good to hear: gold and silver stocks on fire(in the premkt as with gold bullion, and something to watch. I sold my AIG premkt at 3.94 to watch it go up to 5.5. Bot on the way but...but! I only need a few good ideas to bank coin.

Anonymous said...

GG on a PB to the ORH near 34.10 was a decent set-up. 3-minute time frame... i was a tad late, maybe 34.30+, and it never came back... it was almost like a jamie(WS Warrior) 3-touch point trade. ive been in the zome lately & my investment port was really rocking today, so i wasnt gonna get sloppy.

i was thinking about the trade... like KOL trade recently, maybe its good to let it move about rather than trying to get a super entry?

good sector choice

QQQBallz

OONR7 said...

traderam: sorry you missed the GG move, I thought for sure I would read about it on your blog :)
I didn't know about timed orders... how do you set it up?

bl: good strategy and nice trade with AIG.

QQQ: I thought about you when I saw the gold stocks moving up. I know you've been trading them successfully lately. Congrats on your portfolio success.

PRD trader said...

Hi,
what a Coincidence,i traded the same stock GG.

bl said...

NR7, Noticed MFE as a M&A buyer premkt: easy short at the open! Of course I forgot all about at the open. Focus, focus, focus