Trade 1
Short PCS Today there was NEWS! A Japanese company was buying out a rival.
Sad story was "why not me?". Gaped down .We thought there would be
a rush to the door. Pattern was right.
Entry 11.13
Stop 11.21
Target 1 11.00 1/3 +.13
Target 2 due to news we expected a big sell off. So we waited with
2/3 position at a new stop of .16 (argument .03 risk for a $1 gain)
Of course it didn't happen .We were stopped for -.03
Second entry 2/3 position 11.27
Stop 11.35
We were stopped -.08
Third try Entry 11.43
Stop 11.52
Covered 1/3 + .10
Stopped 2/3 to b/e.
Overall result of the trade +.13-.06-16+.10 = +.01
But look at the chart .See what happened afterwards. Glad we were stopped out.
That shows how important your trade management is.
Trade 2
Short DTV I was watching this for a couple of days.Saw pattern was good.
Entry 50.75
Stop 50.85
Target 1 50.60 1/3 +.15
Target 2 50.55 1/3 +.20
Target 3 50.35 more +.40
Target 4 50.25 more +.50
Target 5 50.00 more +.75 ( 3.20 pm)
Covered last bit +.70 (EOD and SPY was bouncing)
risk/Return .10/.75 =750%
This is huge!!!! Trade took the whole day. But was well worth it.
No sudden jerky reactions.See the chart . Controlled slide. Loved it. NO pressure
trading.
This was one beautiful trade.
Today we traded off 5 min charts. See how we can adopt different time frames
depending on the trade!
