Hello Folk's! Yesterday wasn't a good trading day for me! I was too fast and too loose with trading! Yesterday was a loosing day! I started off loosing a couple of trades, and all the rest wasn't any better! Basically did not wait for the right time and the right moment, but, rather tried to recoup the losses! As we all know, not a good way to trade! I was able to recoup some but not all the losses! Still it was a down day for me! Was negative a couple thousand! When I realized what I was doing, I stooped trading a decided that tomorrow I will find a sure thing and just go with it, because there are such situations all the time!
I was going to be very careful this morning because of yesterday's losses, so i was looking for a sure thing this morning! I looked over a few headlines in the news, and then started to look at earnings reports, to see if anyone did outstandingly, and sure enough, TripAdvisor popped right up on my radar! The earnings was very good so I looked at the chart and I seen that based on the earnings report price action shot up over $7! That was a nice move! I knew that if TripAdvisor starts showing some valid technical's, that there was going to be great opportunity that probably will set up! Long be hold, TripAdvisor started talking to me! The daily chart looks amazing! Looks like TripAdvisor got some higher movement in its near future! The inverted head and shoulders formation is visually stunning! Price action is moving as expected! On the 4 hour chart we have some confirmation of our technical analysis! We can see price action formed a hammer candlestick right on top of a neckline, which confirms a move higher! On the 15 minute chart we have a railway tracks formation, which tells us price will head higher! I see somewhat of a double bottom formation. We also have a trend line break occurring, and looks like price action has broken out of the current high. It came back down, but, non the less, the high was broken. This also led me to believe that price will continue heading higher! These signals are all occurring on a strong support level. The 5 minute chart only confirmed everything else to be of valid origins! I executed a buy trade @ $46.71 with 3000 shares! Price action revealed more strong signals to the upside while heading up, so I added to the position another 1500 shares! Price didn't burst out as I was planing for it, but , it did do as expected and headed up some time! I stayed in the trade until I started seeing some reversals getting ready to be formed! I closed out the trade at $47.54 netting $3,200.00! Its very easy to loose sight of your goals. You have to have tunnel vision so to speak! Mistakes happen all the time, I believe that you cannot let it get out of control. There's a point of no return, stay away from that point!