Friday, July 23, 2010
Art Of Trading Member Cleared $1,300 Today!!!
I actually put some trades on today for the first time in almost two months. I woke up at 5:30 this morning and read your "Solid Looking Setups!" email on my iPhone while laying in bed. I thought to myself (half-asleep) "Today could be a good day to trade. I think I will buy some of these.". Right after the open I decided to take all of the trades, but by the time I calculated my stop loss targets, FNSR ran 50 cents without me ( had planned on getting 500 shares), but I did get in on the rest of them.
I planned out a $3,500 total stop loss and weighted size based on my perceived probability of each stock moving up. I ended up with the following positions:
1,000 STP @ $10.88 - Stop @ $10
500 SPWRA @ $16.62 - Stop @ $12.75
500 LPX @ $7.57 - Stop @ $6.75
2000 LLEN @ $10.37 - Stop @ $10
1000 JAZZ @ $8.75 - Stop @ $8.25
250 CAGC @ $12.00 - Stop @ $11
500 RINO @ $14.15 - Stop @ $13
The first hour of holding the trades was a PnL roller coaster but by lunch LLEN started to move in the right direction. I had an $800 profit on it so I sold half to book my gains and decided to hold the rest over the weekend. I was not seeing any positive action in SPWRA, so I got rid of it with -$95 and moved on.
So, after the close I am sitting on about $1,300 in profits from setups that you recommended. Although RINO is the only trade that triggered, you deserve all the credit once again. Sometimes your best ideas are the ones that you don't take. Here's hoping that we get a gap up on Monday and I can sell for a nice profit.
P.S. I have attached screenshots of my PnL and trades for the day. Feel free to share with the community.
Posted by Stewie at 2:58 PM
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