Personally, I could care less. My broker friend asked me today if I made money(which after the 72nd time, get’s annoying and I usually just answer no to). I was amazed at his ability to know without me even saying anything, but before giving him credit I asked, “why would you say that?”. “The market was up today, made new highs”.
Well funny because those new highs did nothing to help out my one long today
LH
I got long twice. Once offof the 11:30 bar and again after the 12:15 bar. I didn’t expect much a move up but I figured that even though I got stopped out once it was forming a base at that level. Boy was I ever wrong.
Luckily the new market highs didn’t have an adverse effect on my best short
DGX
I got short at 53.40 on the break of the 11:45 bar. Held it to the close. So with 200 shares and after fees I ended up $594/14.14 Zs. Tomorrow I’ll be trading 300 shares. Hope you all had a good day.
October 3, 2006 at 5:39 pm
Glad to see you caught DGX, it was my trade of the day too.
October 3, 2006 at 5:46 pm
Nice trade on DGX!
October 12, 2006 at 9:48 pm
good DGX. As for LH, I traded a few of these types of setups before with little to no success. Since I too an new to trading and I don’t care for the pain, I decided to ditch them all together. I only trade in the direction of the gap and if it goes in the opposite direction of the gap and outside the OR, I just ditch it. Not saying this won’t work for others, but I just am not good enough of a trader to execute it properly. Also, good luck and stay strong…
October 29, 2006 at 6:17 am
Mate, have you heard CFDs (Contract For Difference)? I reckon check it out! It’s an outstanding platform for leverage like options.
Cheers,
Reynaldo Soriano – Your Trader Coach
http://www.supatrader.com
http://www.onlinetradingcfd.com
Melb Australia
February 17, 2008 at 9:07 pm
Hello Butterboy,
I am learning narrow range contractions and came to your website thru Mike’s website. This is an old post but I would like to know why you longed the stock for LH but went for short for DGX, when price movement for both the stocks were sideways?
Your reply will be appreciated.