I have been realizing that roughly 2-3 stocks on my watch list can follow my plans from the previous day. It has taken a lot of work to be disciplined enough to start trading those patterns and to stick to my plans. Today this is pretty much exactly what happened. Nothing really looked to be spiking this morning from my watch list. CBIO however did manage to up trend and break out. I got in on the break out at 4.07 and took profits of .33/share. This is nearly the exact plan I had from my watch list that I made yesterday! There is one thing I wish I would have done better though. The stock had a little bit of a spread on it and I neglected to recognize this and just put in a limit order hitting the ask. I wanted to get in a lot closer to 4.00/share, or even closer to 3.90. Had I recognized the spread and used a more precise limit order instead of just hitting the ask I could have traded this better, but it just goes to show when you have a solid trading plan for a stock, you can make a mistake and still come out of it very profitable!
Another stock that did amazing from my watch list was FXCM. This stock did break out over 20. This was my buying break out in my watch list. It then shot up 4 dollars a share from this point. It was a bit of a delayed morning spiker, but these were the two plays that I saw today. I was able to take the meat of the move as Tim says so often in his DVDs. This is an exciting journey, and I'm glad to be able to continue this experience on a daily basis!
WHATS IN PLAY FOR THE NEXT COUPLE HOURS?
I dunno man I'm eating breakfast lol. I will hopefully be there for the market close.
perfetto, Dustin !
LOL hopefully there are good plays for tommroow
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