Wednesday, February 2, 2011

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...


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