Marketgeometry

Tuesday, August 7, 2007

A boneheaded rookie move 8/7/2007


A way to make money is check actively traded foreign stocks and see if their moves in the US make sense compared to the move in their markets. MT is one of my favorite stocks to do this with. MT was down 5% here and only 2.5% in France and the other steel were down but not buy much.
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Nice trade setup and I screwed it up. I bought at 60.95 - stop 60.70. Looking for a small quick move. I moved the stop to quickly again and got stopped out with an ok gain but my stop had more shares than my position. I forgot to see I did not trade a full position. Idiot - so I covered quickly and loss a couple of dollars and then got to see the stock moved smartly up.
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Got to sit on my hands.

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