Thursday, October 1, 2009

Done tradin this week

I was stopped out of my BGU long position at 49.45 when the market chopped through the resistance trendline.
That leaves me long the PCYC shares, and to be honest, I am not too thrilled about the price action that is ahppening on that trade.  My stop for that is $1.94.

That makes 2 losing trades this week, and a TBD trade.  I am going to stop trading for this week, look over the chards since they aren't very directional right now, just very choppy, and that is probably lending to my lack of success.

A few comments about my entries this week.  They were very ill timed, this BGU trade was too early to determine that the resistance would hold out and there would be a reversal.  And my other trade was a much too late entry.  I will have to think more about the timing of my trades going forward, as much as I think about price.

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