Missed trades - WO 5/25

This may or may not be a new weekend feature on the blog. I suppose it depends on the number of missed trades :)

It happens to us all the time, right? You see a trade in your watchlist but there may be one thing you don't like and you just can't pull the trigger. It always seems those trades end up doing well while you're stuck in a pig. I'm trying to drastically cut down on my 'passed' trades. It's my belief that while some of these 'passed' trades will indeed fail - the majority of them will do well and outweigh the risks/losses.

The following are trades I passed on for one reason or another (actually, I missed MICC because it wasn't in my WL that day. I made some changes to try to include gappers that don't take off immediately. And I missed APOL because I was at the French Open). Both those trades would have made my week (or month at this point).

More charts

It's always interesting when I review my charts the next day to look at what I passed up. Below are charts (in addition to what I posted yesterday) from stocks in my watchlist that presented valid entries according to my rules. There were 14 potential entries in total from my WL and I entered 6 of them. Not a bad percentage, but I need to either close the gap and enter more trades or get better at identifying the higher probability setups (which I think is difficult to do). I don't need to go 14-14 (nor do I want to), but just a few more entries would've made for a very good day. In particular, I specifically passed on DUG, PBR and SSO. I completely missed the ICE trade late in the day as I was mentally done but it was a nice, NR setup that provided a nice return.
These setups are all about price confirming a support or resistance area.

Missed trades

I was looking at an early setup in ABX off the 2nd bar high (15-min) but price dropped quickly during the 3rd bar and I basically ignored the trade. Would've been good for a nice quick gain.
 
With LOGI, I was actually planning on buying on a break of the 10th bar high (15-min), but that never materialized and I pulled my order. However, the next bar was still NR and volume decreased even further and I said I would keep my original buy order in place. But... I went to clear my chart to see if the top tail in the second bar was just a data glitch and when I did that something weird happened with QT. After a couple of minutes, I realized I needed to log on again. By that time, price had already gone past my entry. Would've been good for at least a point.
 
Bottomline: Great plan... poor execution :)