Mar 18, 2009

Wednesday's trades

Tried a couple of different tactics today. I just need to mix things up to give myself a better chance of making money. The grind of one good day followed by crappy days is really wearing me down. While I don't want to overtrade, I still want to feel like I can approach a chart from a few different strategies.

Anyway... shorted ADBE (10am bar low, :10) and it bascially bounced of R3 and I decided to just get out at breakeven.
Shorted HUM at the same time as ADBE and pretty much got out with a small loss.
Also shorted GFI on a break of the 9:50 bar low and it went my way at first. Partialed at 1R and left the rest which was stopped out. 
The best trade of the day was MET. Entered long off a break of the 10:45 bar high (:15), partialed then sold all just below the fib. ext. Wish I could've been part of that explosive move above the FE but I was on the sidelines.


bl said...

Pretty and profitable! Insurance/banks kicked butt: met pru hig afl bac sti jpm wfc, etc. 30"x 4 and 20 days are pretty interesting: hammers. I just looked but did long scalp at 10am.
I'm looking to put a premkt WL and trade 2/5" open: adbe ibm ko ges gis lly leap rds/a dri cbrl based on NEWS, book a quick profit then look at the rest of the market, financials commodities. My best trades have been at the open.

OONR7 said...

bl: I would love to trade the open and make a quick buck too. It would definitely take the pressure off a bit. Guess I need to take a closer look at pre-market info. What platform are you using?

bl said...

NR7, I use Scottrade Elite for charts--not automated and that's a big problem(way slow and manual) so it limits my charting parameters, ie, fib s/l lines-so I have to have a very small manageable WL say 8 max--and Market Watch for news: Th premkt news: hot commodities; MMM PRU downgraded by S%P; eps: NKE FDX; down/up grades: AA NOK EXPE BEC. Not necessarily gap plays. Or one could look at the extended financials and fade the open: BAC MS JPM. I'm thinking of trial sub with Briefing for premkt $40/mo.
W news: IBM(open fade) GES ADBE LLY LEAP DRI JAVA. T:STRA upgrade that sent all the schools up: dv apol coco ceco esi. M: UNP railroad upgrade. GL