This has been my trading plan for XHB. Once we had massive volume that one day, I was thinking it was a good candidate to bottom fish for swing trades. Each time it came down to test a new low, buy a 1/2 position with the idea of selling the first rally or buying a second 1/2 about 1.25 points lower (5%). I had never tried something like this before. I has not thinking this way for the first buy. The second buy I was planning to make but somehow missed it. The third worked perfectly for me. The fourth I bought and the double buy but sold a little early because I was going to be traveling with no PC access. The fifth I took and just missed the double buy when it took off like crazy. I did not want to stay in this position for long not having a good outlook for this market.
This is an inter day chart of the XHB swing trade.
Also today, I was trying to buy stocks on the morning drip. I was not being aggressive enough but I did catch one - DSX (in fact twice). The second buy I should have held on to longer but by the time I caught this one DRYS looked like it was running out of steam. I hate playing the knife game unless it is with Big Month Stocks.
-
With the big move in my swing today - I have dug myself out of the whole for the month. It is not a lot of money but I am having a lot of mental trading problems right now. I need to get my head on straight.
-
The numbers:
Stocks: Gross +236 Net +215 shares traded 4000
Stock Futures: none
Other Futures: none
Forex: none
1 comment:
Denarii,
Nice day. You worked the hell out of XHB!!
-BD
Post a Comment