tradersams blog

closed TAP today, fell through stop loss, giving me a 7.5% loss.  Entry seemed promising, but fell back from resistance on day I entered (2/June/09).

aqa measured move

closed AQA today.   Closed on a profit target, on a 27% gain – didn’t expect it this soon.  See the inserted pic.   As always when a profit target is met, I am unsure if I should trade that way, as my ‘normal’ approach is to let them run till they fall back through a stop loss.  Back to the drawing board to see if I re-enter.

Points of interest – downward channel looked to be busted to the downside, so was looking to enter to the upside on the day is came out the top. I picked the exit as just below $6 as I expected that to be a point of resistance.

My other point of pain and pondering – KZL. It came back on the market today to a 20% drop which went straight through my stop loss (not CFD so not automatic).  So now I have to evaluate if I am in a reasonable position to maintain the trade.  Will go and think about this some more….

Both trades discretionary.  Market looks very bullish.