Not much of a post tonight but I keep on hearing traders in chat rooms not following their plans. A good trade can even be a losing trade if the plan is followed. I had been complaining about not getting filled on my near opening shorts, so today I put half on using an on the open market order. I had a limit order for the other half. Both got filled. I had a mental stop of 20 cents above HOD and planned to take half off at the first sign of a bottom and follow the rest with a trailing stop. I had an average price of 67.13. I saw a big bid at 67.00 so I pulled a half off at 67.01. The stock then hit 66.90 twice and I decided with the market so weak - why am I short a stock showing strength? I put a market order in and got filled at 68.08 - not really where I expected. The bottom line is I had a plan and the stock did not follow the plan so quickly I got out and made a small profit on what could have been a losing trade.
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CROX on the other hand pissed me off. I was following it most of the morning thinking if it hit a new HOD and failed it would be a good short. Instead it was a great short but I was playing around with my good old steels and missed it - pisser.
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The numbers Gross +80.95, net +39.95 shares traded 2400
2 comments:
US Steel [X] last week, wild!
jog on
grant
Awesome!
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