As the trades close, I will analyze how then went, and how I might improve the performance of later trades. I would appreciate input from other traders--if you spot mistakes, places I could build upon, want to suggest new strategies, or just wish to congratulate me or another contributor on our successes. Occasionally, I will also ask for feedback on a setup or a strategy. I hope we will all learn. To profitability... Cheers, Morgan
One trade has closed: DCOM Entry: 19.74 Stopped out: 20.26 Analysis: I felt the likelyhood of a second rally was low, given a break of support, the pattern, and the low volume that characterized the consolidation. I was not overly concerned with the sector's oversold condition because of the short-term divergence, which left this second-tier name looking more vulnerable than anything else. Nevertheless, we were stopped out in today's minor rally. (See attachment)
One trade has closed: NVLS (short) Entry: 19.49 Stopped out: 20.86 Analysis: Stopped out by 5 c, and the stock remains mired in consolidation, though volume hasn't been fading as it should.
why is the solid blue line drawn as it is? ... i would have drawn it along the tops of the highs of the up move.