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

Wednesday, February 10, 2010

February 10th




Three paper-trades, three winners. And, no adding to losers to average a better price so they were "clean" winners. Modest gains, as usual because I tend to run quickly with gains, often at the risk of leaving $ on the table, as I did with the first trade. I had pegged the top of the big move up at the 3:00pm candle and faded it short at the start of the next candle. The short stalled with a small gain... so I covered. Then, the price continued its drop. Feeling cheated by not holding until stop-out, I caught the bottom of the same candle and went long for my second winner. I sold that one near the eventual close price of the candle. A bit later on at 3:30pm, I felt like a long trade was in order so I took it... I was about ten minutes early so it was a small loser for much of the next ten mintues or so. However, it stayed within my hold range so I did not stop it out. I sold near the high of the move and ended for the day.
The market is closed as I write this and I notice that my last exit was a good one, considering how the last couple candles finished on MOS.