Friday, February 19, 2010

Good Time Jus Now. Here's the Two Trades I Just Took and Gained. I'll Explain In Later Post.

Just feel like posting this now, before composing an explanation post, like usual. I planned the trade, traded the plan. Ok, the first trade was moving very fast, I advanced my stop to plus 3 ticks like I said I wouldn't, but that's actually ok since NYSE TICK was at an extreme. (BTW, this is only the NQ 100 tick chart so trade lines can be seen since 2m chart they can't be seen because the trade lines happen in one or 2 bars.) So I was processing whether to be upset with myself or not, but somehow I got over that quickly as *** my original plan that I tweeted to Stocktwits started to appear, which was to watch the breakout and take the retrace. so there was the retrace, and just becuase I just exited a trade, there was no reason not to re-enter especially since it was a gainer. (in past mistakes I would be doing screen caps and analyzing) So I took the retrace and decided a modest target here was appropriate considering the volatility, proximity to the end of January's resistance levels, and the NYSE TICK had already gotten extended. So that's my thoughts during the trade as they are fresh in my mind. I do plan to mark up some screen caps with arrows and lines later, but I need breakfast. Good luck traders.

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