Spydertrader's Jack Hershey Equities Journal II

What a rush!

I got in to ININ @ 16.78, and exited @ $18.12 as a profit stop. I felt this was a good place at the top of the IT trend.

I hope others caught this trip!

I probably sold too early, but a bird in the hand....


edit: WAY to early! . Oh well.

 

Thought I'd post this as an example of what can happen when one doesn't follow their trading plan. I made so many errors on this trade it is almost comical. Without boring you with the specifics, the only positive thing about this trade is that the loss falls well within my maximum risk parameters. It least I did one thing right! Anyhow, I wanted to post this as an example to always follow your trading plan - especially risk assessment.

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1242369>

 

ALJ may be worth watching today. Unleaded gas is having a strong break out from a two week consolidation. Also, the other refining stocks are acting well.

 

You are making me nervous spydertrader. I just added to my GROW position this morning.

 

I also got in ININ @ 17.31 and out @ 17.90 when price stalled at the IT trendline.

In GROW yesterday @ 29.49 and held overnight only to see most of the gains evaporate today.

Unusual Volume gives very good entry signals but I have to work on exits.

NH

 

Don't be nervous. GROW still looks good on a Daily time Frame. As I said, I made waaaay too many mistakes on this trade. In fact, I hope the thing rockets to the moon for you and everyone else. The biggest lesson here is to follow the risk parameters. Even when one screws up everything else, correct risk assessment keeps you from blowing up.

Good Trading to you all.

- Spydertrader

 

Would be interested to see the IT trendlines you guys had for ININ. I have what I would consider a LT trendline from around June 13th. Is this what you're referring to?

 

I have the trendlines drawn in the following manner on the ININ Daily Chart. As always, Your mileage may vary. See attached ...

- Spydertrader

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=1242516>

 

This is the trendline I was using for ININ.

 

i entered GROW this morning fwiw, following my EOD signals from yesterday. currently trailing stop at 30.28.