Monday, August 1, 2011

Not waiting for Break of HOD

I want to start taking trades earlier in order to capitalize on the run to the HOD.  This way, I am not getting stuck top picking the break of HOD.  Tried this strategy with SUNH today.  Waited for a break of the morning resistance which was $3.17 and bought a 1/2 position.  Sold 1/2 on the first spike (+$0.10), and held the rest with the plan on adding a full position on the break of HOD.  Filled at $3.40 (entry @ $3.37) and sold 1/2 of new position @ $3.45 and 1/2 @ $3.47.  Stopped out of remaining 1/2 (original position) on break of $3.40.


I felt more patient with the earlier entry.  I had secured a profit, and was ok having the break of HOD retrace the way it did.

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