I got a slow start this am, not making my first trade until 11:00 am. So, I picked up 64.5 cents per share on three trades, two of which represented a "double-down" for a better average price. A "day-job" appt kept me away until near the end of day. I worked in 3 more trades from 3:36 pm to 3:51. The final trade was my first loss of the day (-3 cents)and a result of what appears to be a bad fill; I was showing profit of about 15 cnets when I clicked to sell. More than likely though, it was just the volume rush that caused the slow execution.One thing is certain, I am feeling more comfortable trading in this style. I am trying to refine my entries and exits, managing risk, and focused on selectivity instead of the frenetic click and hope of last week. While my gains are not as strong, my panic factor is deeply reduced! I'd rather pick up 75-80 cents per share on 8 trades than a bit more gain on 25 trades and be white-knuckling all day. I find that for the most part, I am getting very decent, early entries on nice moves. I am selling them much too soon, however. e.g. my long on the SKF chart at 3:36 pm. I was in at $124.76 (green line on chart) and sold at $125.11 (red line) for a gain of about 33 cents per share. When you see the move that followed however, you'll see what I mean by bailing out early. On the three-minute chart, it went up 4 continuous green candles to a high of $129.38; a full $4.27 per share more than what I took from it. I got only 7 % of the entire move after going long a scant 31 cents above the bottom. Talk about impatient....
I can't complain though. I took a gain for that trade and for the day.
A good week-end to all! Spring began today and the snow is disappearing here in Maine. A rebirth is just a whisker of time away!
5 for 6 winners, an 83 % win rate. Gain of $1.03 per share.
