Today’s Trades – A Couple Mistakes

October 18th, 2007

I mentioned earlier that this has been a roller coaster of a month so far for me.  Today started out with several candidates to choose from, mostly short.  The candidate selection recently has been scarce, so it was nice to have to pick between decent candidates rather than decide whether anything was good enough to trade at all.

I chose VRTX, WM, and RX.  VRTX worked out nicely but I used a relatively loose stop, so when I took a partial it wasn’t as good as it could have been.  Also, it reversed and I was stopped out at breakeven.

VRTX.20071018

Next I traded WM which quickly stopped me out – within a minute or so it seemed like.  ;-(

This is what I considered a mistake.  In retrospect, I entered too close to the low of the day which seems to have a lower probability this early in the trading day.

WM.20071018

Finally I traded RX which seemed like a better setup, but stopped me out soon after.

RX.20071018

Hopefully you had a better day than I did!

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