Tuesday, October 9, 2007

The Good the Ugly Trades of the day.

Notice the difference between the two trades:

The UGLY/Bad one could have been a decent setup if it wasn't so extended(up $12 at the open) and notice how long it took me to sell it, I should have sold it within the first 5-10 minutes after buying it. It didn't do what i expected and time is money and hence i should have sold it.

Now, notice the Good trade:

It started to make money almost right away. Good strong stocks with lots of demand never pullback for too long and traders are always eager to jump in on any weakness or hints of strength. These are the stocks that we all need to be looking for day in and day out. Good Trades work right away, bad trades just sit there until they eventually drop and stop you out. Time is money!

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