Monday, February 8, 2010

Gain in a Volatile Early Trade Feb 1, 2010



Trade from early am Feb. 1st, 2010. Setup was a dip buy after wide bars on high volatility. Signal I took from 2m chart. I also use 1m to check on internals.

Also including 2m & 5m charts.

NYSE TICK was more bullish than bearish, and it was nearer to the low end of it's range. ADD is the advance-decline line. I don't remember if I adjusted my default stop loss to under current 2m bar, technically, it should be under prior bar's low, but I wasn't mentally prepared for that much risk, so I really shouldn't have traded here. The gain didn't make that error correct. There will be other trades where we will see that I made the exact same error and the result was a loss. (there is one already I have yet to post here) That's the problem with a gain with a trading plan rule break.

Charts (c)TradeStation

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