APRI Trade

I have crawled out of the hole I created earlier this month while on an emotional trading binge (Emotional Quotient, Emotional Intelligence slowly increasing!!).  Of note, a good trade in APRI today.

Original entry was $4.49 based on the flag, but APRI gapped up this morning.  Entered on second candle (supported by good volume).  Exit was an error as I was trying to set a sell stop on the last 1/2 of position, but entered sell limit. Lucky that it worked out as stock dropped soon after.

 

Made another good trade in EEE.  It was not for big $, but first pattern recognition trade.  Regular entry at the break of HOD, but stayed in the trade longer than anticipated due to the triangle it was forming.

Also took positionals in IPAS (average 1.5075) and ROIAK (original was 2.01 on break, but was stopped out @ 1.7555 -low of day).  2nd Entry @ 1.817 - target $2.63)

Plan Your Trade, Trade Your Plan

I dug out of a $3000 debacle over the past few days.  Lost my discipline today and started taking impulse trades and not following my plan.  One perfect example of this is my PWAV trade.

My plan - Entry @ 3.91, Stop @ 3.81 with targets of 4.01 / 4.10 / 4.25
Missed my entry, and tried entering on break of HOD @ 4.12
Original thought was to give it 0.10 wiggle room with a stop at 4.03 - blew it.  Put in original Stop of 3.81 today
Increased my initial risk by 350%, and took the loss.

If a trade is not going my way, take the loss. I can always buy back if it starts moving the right way.

Pay attention to Resistance and Support!

Profitable day again, but left alot of money on the table.  I don't like giving up profits and have a tendency to close positions when they start reversing.  I noticed doing my charts tonight that 3 of my trades never broke below the breakout level, or low of day.  Had I held, I would have tripled my profits today.  I was very patient with WFR, REE, and AVL during the afternoon, so I am slowly learning.  I need to pay better attention to the support and resistance levels, and let trades develop a little more.

Also tried to trade APKT.  My comfort zone has been in the $3.00 - $15.00 ranges, but I would like increase my trading price range.  I was a little uncomfortable seeing the large, quick swings (as apparrent in the first trade), but re-entered on new HOD and made a profitable trade.

 

Regardless, it was another great day in the CGW trading room. My new B/O anthem...

Good Day

Took 5 trades today and sold off some swing positions.  Good morning entry in DNN, after the break of HOD.  I was a little late on ENTG, but the trade was still profitable.  Traded it a little better during the afternoon breakout.  I was happy with my profit taking, but still need to be consistent with holding the last 1/4 of my trades a little longer.  Otherwise a very good day. 3 winning trades and 2 for small losses.  Better discipline on entries and stop losses.  Need to stop taking impulse trades.  Only trade with a plan.  I am not very good at trading between 9:30 - 11:00 (1130 - 1300 EST), so I will make it a new rule to go the gym during this time.

 

Also sold 2/3 of my VG swing position. It finally broke out today.  Also sold ICO, and 1/2 of YRCW into earnings on Friday.