On my lunch, I took two paper-trades in RIG. The great thing about the first trade was that I saw the momentum and entered without a clear signal... no hesitancy. I was comfortable with the idea that if it stopped and reversed, I'd just get out. Interesting because that is not how I normally approach it. Too bad I did not wait for an exit signal however. One of my familiar signals appeared at the end of the candle, the "close at or near the top/bottom for the 5-min candle with a volume spike." With my disappointment fresh in my mind, I took the short near the start of the next candle after confirming that the reversal was true. As you can see from the chart, I exited pretty quickly, and it continued down before I could get the screen shot. I have no idea where it went after this as I closed everything down. It's time to get back to real work!
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