Monday's trades
Today offered a little bit of the same (not letting winners run) and something a little different (messed up an order in my favor). COP was a bust (get it... oh man) and got me started off grumpy. Then I entered POT off a break of the 10:30 bar high. I liked the narrow range bar that formed right at the ORH. Price then fell back to the ORH and printed another nice entry where I bought more shares (11:15). That was about the only good thing I did with this trade. With the up and down price action I got nervous and sold all my shares at just above $59.
I was okay with exiting POT because my next trade did well right off the bat. I entered HIG short off a break of the 12:45 bar low after price fell down and through the ORL and came back to print a weak candle just below the ORL. This is where I messed up. After price moved 1R I went to place another buy-stop order for 1/2 my shares... but I actually entered a sell-stop order and added more shares. I quickly exited and pocketed some change but I was a bit frazzeled so I exited earlier than what I wanted. Probably worked out best as price shot back up and I would have closed the position anyway.
Long story short... made money and did not manage my exits well again. It will happen one day.
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2 comments:
BTU & PCX made nice late moves. i watched gold overnight a bit & i thought it was gonna run. i hit a stock pretty hard so i spent much of the day watching it lag... got long WFR but closed too early.
i had perfect entries friday on UYG at like 5.44 and GG (forget price), & i got jiggled out and man have they run. kinda like your POT trade, but i think UYG is up like 20% to 25% from my entry and i hit it pretty hard.
ill be again focusing on the QQQQ starting in January. my biz is slowing & im going to have more time to trade. i have some stuff up in the air & i wanna keep risk as low as possible for awhile.
QQQBall
I'm finding alot of low priced stocks 5-30 or 5-15 moving 10% or more as they have been sold off so much.
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