Wednesday, April 20, 2011

Trying to figure out what I am missing

USAT was the only trade I took today.  I followed 5 stocks, looking for the right setup, and thought that I found it in USAT.  It broke out quickly in the morning, setting a high of $2.72, $0.03 below the 52 week high.  Watched the volume start coming in mid afternoon, and the stock start catching momentum.  My plan was to enter the trade once it broke above the 52 week high.  Entered the trade @ $2.76, and the stock quickly reversed.  I believed there was good support at $2.65, and set my stop @ @2.64.  Wicked out, and the stock reversed, closing just above my entry, near the HOD.


This is becoming a repeating scenario in my trading... Have to fix this...

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