Exit with Gain

And finally out of this trade. Got a nice push back toward the HOD and I exited into the strength. + $1.05 is my best gainer in recent memory, if not my best ever.

Amazing how relaxing and enjoyable it is to do the following:

1. Enter with the trend

2. Enter early and not during consolidation

3. Avoiding early cut and run exit.

4. Faithfully stopping out early trades then catching a winner that makes up for it.

What I need to consider:

1. Trend is the friend

2. Look for chances to add to winning trades

3. Relax.

thinking ahead...

Just thinking ahead on this trade I have going. TNA and QQQ have closed the gap from the morning's low open, but SPY has not. SPY started to close the gap just moments ago and TNA is starting to gain some energy though it hasn't broken the consolidation area using $59.40 as resistance. If SPY gets some gusto and runs up to close the morning gap, TNA will likely reach the second target of $59.70 that I mentioned in an earlier post.

Target hit, would LOVE to exit here...

$59.40 hit and I would like to be on record as wanting to exit here. I'd then wait patiently for another possible push higher.

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+ $1.30

Reinvigorated...

The trade is reinvigorated and gathering energy. If it doesn't double-top, I see it going to the $59.40 area. Maybe $59.70 if there's lots of EOD momo.

Trade lost steam

Trade still working but has drooped from the peak. I had about 97 cents at the highest point. It occurs to me that an experienced trader would have been looking for a place to add to the winner. I have to start thinking that way...

Judgement/Gut loses out, trade still working

+ 80 cents
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Doesn't matter, I can't take profits anyway because of my rules, or at least I can't until 15 mins before EOD. It would be nice if this is still working then.

Gut tells me to get out

My gut tells me to exit with my 60 cent winner on the high volume spike. My exit rules keep me in. Let's see whether my judgement is correct or is the rule correct...?

3rd of the day

Long TNA at $58.12.

stopped out.

my gut told me that momo was waning and that I should exit with my 15 cent winner. However, my pledge was to stopout all trades today; no discretionary exits allowed.
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Important for me to pay attention to the fact that my original stop would have held and I'd still be in the trade.

moved stop up, momo waning

2nd of the day

Long here.

Stopped out.

first of the day

first of the day. Short TNA, this one might not break down though... will let my trades stop out today... no discretionary exits.