Friday, January 8, 2010
up down, up down
shorted as it was retracing back into the gap and making a u-turn. got a red bar, looked good, but it chopped around the rest of the day. i also tried going long after the short didn't work, but no good either. i happy with this trade because it went no where. can't be mad at that one.
breaking highs, big volume. no follow through. actually crashed and burned, then went back up.
breaking highs, nice volume. bought more than i intended so sold 2/3. the stock pulled back into my stop of the low of the candle. the previous candle low was too far away for me, but that would have been a good stop.
sold short on those big down candles with big volume, but it was all chop. made money trading it a couple times, but not the kind of trade i would like to make money with. too much back and forth. how do i know it wouldn't go another 5 candles down?
the trade was to catch that earlier breakout but i didn't see that one. again, how do i know it can't run another 3 or 4 candles. the problem is, i say that, i then i pass on the next trade because this one doesn't work, and what do you know, the next one does. it seems you just need to put a lot of trades out there, set your stops small, and see what works.
crazy looking chart, no right way, wrong way, should have stayed away from this one. if i remember, POT may have been going down, and i was trying to get sympathy play.
i thought this was going to be a great trade. close enough stop but stock went nowhere. i decided to get out. look at that ass grabber at the end of the day. the market gets everyone out, gets the shorts in, and then boom, turns like a beast.
nice bull flag. big volume on the pole, little volume on the flag. nice trade. comfortable with stop. no worry over losing. wanted to pocket some cash so i exited. i don't think i could have stomached the second pullback. maybe i need to leave the last hundred until end of day or stop out.
should have only bought 100 shares and set stop below .60. here i was letting my desire for more shares to overtake my stop positioning. i.e. i wanted 200 shares so i took a smaller stop vs. 100 shares with a .60 stop. the trade would have worked. i need to look at the candles and if my stop isn't within reason, then trade less shares or not trade it at all.
breaking lows, stop above .14 but i wasn't feeling this one. just got out for a scratch trade.
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