One of Missed Trades trades stuck in my head today for the reason a couple of other traders were going long it as Missed Trades was shorting it. The chart above in the daily of FSLR. It got an upgrade today and was higher in premarket. The problem was it did not look like it was going to get a large pop. It first needed to clear yesterdays high and then it had a brick wall of 3 day highs around 109. Many times MT legs into trades which works great for him.
Once the open pop was done, the retest of the daily high looked like to place to begin to leg into the trade. The first legs were 106.50 and 108.00. I believe there may had been one more. Both were filled quickly but very soon the market was not racing forward and FSLR lost it steam from the upgrade. MT cover 1/2 around 106.40 and the rest at 106.05 but he stated if the stock spent anytime under 105.00, it could really break. Boy did it.
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This trade shows two things I believe - you need to look at the daily chart to see where a day trade should be made and once you are done with a trade, you are done with a trade. You can't cry over money left on the table. You just go onto the next opportunity.
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Hopefully me typing makes sense for I am really tired right now but I want to say - everyone should come and join us at MT's chat room. A week trial is only $25. And as the little thing on the right of this site states, they allow me to cut you a deal on the service.
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You can join and just follow MT trades but the real beauty of the site is he helps you think for yourself to become a better trader. That is why I am a member.
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