Showing posts with label first post. Show all posts
Showing posts with label first post. Show all posts

Jun 8, 2007

Let the blogging begin

Ever the one to catch on to a fad after it's been in existence for years... I have decided to start my own daytrading blog. Why??? I don't know, I kinda enjoy the freedom of having my own blog and doing and saying pretty much whatever I want.
Oh... and it's a good way for me to stay 'honest' with my trading. I figure since I've learned so much from others out there, maybe through this blog I can pass along some helpful trading tips.
Enjoy the blog!

To kick off the blog, I absolutely needed a good trade. So, what better day than today when I got short TTI. Here's the trade (5-min):

  • Placed fib. levels from first bar high to low
  • Price retraced to 50% level and fell back
  • Price retraced again to the 50% and printed a shooting star-like candle (with increased volume)
  • Entered on a break of the 10:15 candle
  • I looked at the daily chart and saw a nice support area at $25.46 (from 5/7) and used that as my target (kudos to Jamie)
  • Exited my entire position when price hit this level