Trade 1
RIMM This was picked from our gap list in the morning.
Was weak yesterday.
Entry 7.75
Stop 7.80
Target 1 7.60 1/2 +.15
Target 2 7.50 Never hit.
We were stopped out 1/2 to b/e.
risk/Return .05/.15 =300%
Even though we were stopped out we still got a nice trade.
This is why trade management is very important.
Trade 2
Short VIAB VIAB also was in our morning gap list.
Entry 54.99
Stop 55.15
Trade was not doing what we expected to do . So we reduced the
Stop to .55.10 then to 55.02
We were stopped out for a loss of -.03!And VIAB jumped up
almost .40 . See how we reduced our loss to just 3 cents from the
original 16 cents.You need quick analysis of the situation ,focus
and definitive action.
That is why your trader education is so important.
Trade 3
Long QCOR QCOR had a beautiful drop in the morning that we could not
find an entry to get in to. So we waited for it to drop and
found an entry to go long right at the bottom.
Entry 20.14
Stop 19.99
Target 1 20.30 1/2 +.15
Target 2 20.50 never hit.
Moved our stop to .14 to b/e and we were stopped.
Fast trade. Moved on .
Trade 4
Short MNST This pattern has to be approached with caution.
Entry 53.75
Stop 54.01
Target 1 53.65 1/3 +.10
Target 2 53.60 1/3 +.15
Target 3 53.00 Never hit.
Lowered stop to .80 Stopped 1/3 -.05
If you noticed in all of the trades some part was stopped out.
Because SPY was indecisive most of the day. It wanted
to go up and then down.This brings confusion to the market.
That is why trade management and profit taking are so crucial.
You have to learn the art of trading.
Beauty is with all the indecision in the market we still
ended up with a profit!.
Also we traded all our trades today off 2 min charts.
All done by 1.37 pm.
All done by 1.37 pm.
