I rushed home from my day-job in order to get a trade in before the days end. I wanted to close out the month of June with some activity, giving me a sweep... my first month where I participated in the markets every day that it was open.
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I got here just as SKF was running down as the markets climbed. I went"bottom fishing," looking for the turn that had a very high probability of occuring. I got in long at 41.50, five cents from the bottiom of the move down. I put my stop at 10 cents and waited. SKF started to climb and still I waited... finally, with only about 8 minutes remaining in the day, I sold for a $60 gain (13 cents) at $41.63. The story does not end there though... SKF continued to climb and I realized then I had exited much too soon... it ended up topping out at $41.87; another 24 cents. I might have taken as much as $185 from that trade. So, in the end, I took only 32% available to me after a very well-timed entry.
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Closed the month on a winning note and I'll put together a re-cap soon.
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1 for 1, a 100% win rate. Gain of $60 in 20 minutes of paper-trading. Stop placed but did not trigger. No adding to losers on the day.
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