Not Pretty, But Profitable
April 27th, 2007I traded TMO yesterday off the 15 minute charts. It certainly wasn’t pretty – I was in negative territory for much of the day. I almost couldn’t believe it when it actually hit the Fibonacci extension late in the day. I sold a little over half when it hit the extension and let my CyberTrader alert take me out of the remaining shares just before the close for 2.6R. It’s trades like this that let me know I’m doing the right thing by putting a bigger dose of patience in my stop strategy. Why save the occasional 0.5R when it guarantees I’ll miss out on trades like this and bigger ones?
Oh yeah, I made a little over 2R on a partial fill in FSLR on Wednesday.
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