"A man is not finished when he is defeated. He is finished when he quits."

Tuesday, June 23, 2009

June 23rd


Only got in for the last hour. Made an effort to stick to the stops and I was rewarded again, although the volatility in SKF at EOD made me just a bit uneasy about sticking too long with trends. Stopped out the first trade of the day for $30 loss on a 300 share position (kept my loss under 10 cents per share). Second trade was basically a scratch loss off a position which had a decent gain but re-traced while I was trying to stay in trend... I had moved the stop to B/E. The following trade was my best of the abbreviated session, getting a significant portion of the 3:10 pm red candle. Three more winners after that and I was finished for the day. Mostly a fundamentally sound day... I'd give myself a grade of B-. I stuck in too long for the reversal on the entry of my biggest gainer (16 cents) so I did exceed my stop by 6 cents. Also, the average grade is because of a lack of attention. I missed/watched a couple nice moves go by, including the 3:25 pm red candle and the subsequent reversal beginning at 3:30 pm and topping out at 73 cents around 3:46 pm. I actually watched it during this time... I wasn't like I was busy with something else! Ha!
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4 for 6, a 67% win rate. Gain of $120 in 1 hour of paper-trading.

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