Monday, August 18, 2014

Closed BLUE

This had a nice set up.  Volume was a little low but it turned out alright.  I sold a 1/3 of my position off into the morning's strength, but despite the strong A.M. it faded.  I don't like faded

Despite some early morning potential, it faded.  So I sold the remainder as it came in.
Entry: 36.86
Exit 1: 37.60
Exit 2: 37.03  .2R

What worked?  Chart pattern with nice consolidation.  Selling partial position into strength.

I probably bought a little too high. I could have gotten .30 cheaper with some patience, which may have enabled me to hold on longer.  As a trading strategy, I would like to be able to hold on as stocks trends in my favor.   .17 gains are just not going to get me there.

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