Sunday, March 8, 2009

Was it luck again

Friday right before the open I noticed SRS was outperforming SKF so I decided to trade it instead of SKF. At 9:34 I bought 100 @ 98.83 and immediately suffered some pain as it reversed and got as low as 96.17. On the 3 minute chart I can see a Three Inside Up pattern forming and as it broke over the opening 30 minute high I bought another 100 @ 98.91. For the next 15 minutes it went straight up and I moved my trailing stop up the whole way and got stopped out at 106.24 at the time of 10:19:55 for a gain of 7.37. About the only mistake I made was not moving the trailing stop faster and tighter and maybe left a buck on the table but overall pretty happy with how I handled the trade.

Sure, I got lucky again, I mean how often does something go straight up 15 minutes without a single red candle. Then again, you do have to put on the trade, so it wasn't all luck.

Here's the 3 minute chart, click on image to enlarge



2 comments:

bluecollartrader said...

WTG, Slot! Nice play. My email is bluecollartrader@maine.rr.com by the way. You mentioned that you were interested in it...
Good luck this week, buddy!

slotmonkey said...

Thanx blue, gl to you too.