Best Day So Far: 4 Trades, 3 Winners

April 24th, 2007

I had a good day in the markets today (+9.3R). The market opened lackadaisically, so my gap list was reasonable to start out with. I started off trading a breakout play in FRPT for 6R. I’m still using a smaller size on these breakout plays, so this wasn’t a huge trade in terms of dollars.

The next trade was a nice inverted hammer off the OR low in NYX. I closed half at the fib extension and the remainder was stopped out at 87.70 or so just before 1PM. Here’s a chart:

Short NYX, 2007-04-23

Next was BIIB which formed a nice hammer on the 30 minute chart. Kind of like WNR the other day, my newfound patience paid off for 2.3R thanks to that last candle of the day.

Long BIIB, 2007-04-23

The last trade was HANS which I took for a 1R loss. I traded it against the 6th candle on the 30 minute chart. This one didn’t trigger until two candles later, which should have been a warning sign. I hadn’t taken a play like that in some time. I’ll have to look through my charts and see if a play like this has ever worked out for me. Here’s the chart:

Long HANS, 2007-04-23


  1. Eyal Said,

    April 24, 2007 @ 8:38 am

    Very cool. Good selection of trade candidates.

  2. Dave Said,

    April 24, 2007 @ 12:17 pm

    Thanks, Eyal!

  3. Zoomie Said,

    April 24, 2007 @ 7:29 pm

    I tried to short NYX on your call but there wasn’t shares from my broker to borrow. Beauty trade!

  4. Dave Said,

    April 26, 2007 @ 9:29 am

    Thanks, Zoomie. Yes, NYX did set up beautifully.

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