Dec 9, 2008

Tuesday's trades

More of the same for me today. Start with some losers... end up with some nice entries then decide that - despite everything I know - I'll just take the money and run instead of waiting to see if my target exits will be touched.

It's tough for me right now to let good money slip away after being down early. I will get over it.

Good trades:
STI... break of 1:05 bar low (5-min chart). Liked how price broke through yesterday's low then retraced to form 2 inside bars. Since the spread was very small, I had a decent amount of shares. Scaled out here and there for a good profit. Original price target was around 29.85 which was hit later on.

GE... technically entered on a break of the 12:45 bar low after the 61.8% kept proving to be tough resistance. I was actually looking at this on the 5-min chart but decided to enter off the :15. Again, had a good amount of shares, scaled out a bit then sold all at 18. Not too disappointed as my price target was actually 17.75 which, say it with me, was hit later in the day.

Bad trades:
BNI... thought this trade would do better but it didn't and I was stopped out quickly.

NQ emini... eh, took a shot at a short - just one contract and my spread was small.








5 comments:

Attitude Trader said...

Regarding your NQ trade: Dude! I think we entered on the exact same candle except mine was in YM...loser for me too.

Good that you kept the risk small though.

-AT

The A Trader said...

you nailed GE today
Nice entry 0;)

bl said...

Shippers-exm drys gnk egle dsx, and some oils-xco atpg hk.

Anonymous said...

you can see the GE trade just looking at your page w/o reading anything. nice trade... i just missed a long entry on the ramp b/f it PB'ed. i missed DXO, my buy was at 2.81 & it only came back to 2.82.

QQQBall

OONR7 said...

at: yeah, I saw price falling under previous support then retrace... thought it would fall. Eventually did but at the pivot area, not yesterday's high.

atrader: thanks, I've traded GE a couple times the last week and it seems like it's always on my WL.

bl: transportation and financials were pretty hot in the morning. However, not many of them made it to my final WL.

qball: GE was a nice setup indeed.