Market Correction

I had the honor of speaking with John Lee, aka THE CHART ADDICT today for 1 1/2 hours.  Learned so much during that conversation, and will apply my new found knowledge.

• Ask more questions

• Make sure my questions are all answered

• Wait in the mornings for market to figure itself out (5 - 15 minutes right now, this could change)

• Secondary afternoon B/Os are easiest setups - look for break of pattern with price spike and high volume (no need to wait for break of HOD)

• Gap above the high of any black filled candle = bullish kicker (very rare, very profitable)

• Listen to my rules

• Ride out last 1/4 of trades as long as possible 

• Look at MAs, support and resistance levels for profit targets

• Keep an eye on daily chart, don't become tick-tarded

3 Trades today

DNN, again, top picking .  Rushed entry.  Was  waiting for a break in HOD (pre-market @ 3.71), put sent order once it hit HOD.  Quickly reversed.  Exit was a break of LOD.  Happy with my exit, need to be patient on entry

 MNKD was fun.  Flash crash, entered on subsequent momentum candle.  Entry was 8.56, sold half @ 8.90 and other half @ 8.95, but the fills were not good (too volatile).  Actual fills were 8.58 and 8.76.  Small gain, but easy trade.

Also traded ICGN.  Need more patience, and must have a concrete plan before entering the trade.  I am formulating shit during the trade, getting scared, and selling my positions.  HAVE A PLAN AND EXECUTE.
Entry on break of HOD (got it right), just did not give it enough room. 

Closed out some Swing positions today, C for a 6% loss,  LIOX 1% gain , MNI 6% gain.  Still holding ARNA, JST, ASTM

TRADING IN THE ZONE just arrived in the mail yesterday.  Can't wait to read it tonight!