Tuesday, January 30, 2007

We don't buy 'em, we don't short 'em...

until the price is right and the time is right and ... even then there might be "acceptable losses".

(TKO) - one of the long candidates listed on the Members Site with a trigger price of $3.24 JUST YESTERDAY, today went up, marched through the "trigger price" in the first 10 minutes after market opened and then... then due to lack of volume, after vacillating at the +4.5% "profit zone" gradually retreated and closed with a loss of -2.8% off the "trigger price".

My trusted TREO 650 is been dead for few days and I was unable to place a stop loss order after (TKO) was bought at $3.26, but... BUT this is an exceptional example of how correctly calculated trade turns into a loss ( but NOT a financial disaster) due to unforeseen technical problem ( dead TREO it is). If not that, even after failed as of today breakout, if my usual -2% stop loss was placed, I'd have about 2.5% profit on a trade. "That" happens and when it does it proves time and again that by applying systematic work and following your trades religiously profit may constantly be made.
Tomorrow will be a better day - it always is.

As for today - visit Members Site for fresh trading ideas.