2012.02.27 NFLX

NFLX daily chart showed narrow range bar and  today it gapped down.

Short @ 107.88, stop @ 108.33, initial target @ 107.5.  I stopped out @108.50.

Good:  Cut loss quick. The slip caused more loss but acceptable.

Be Better: Wait for a  low risk enter point.

VVUS has been up 100+% in last two sessions, today it gapped up and the price is extended.

After it failed go up after a perfect up triangle, it broke down and change direction to down. Short @ 24.08, initial stop @ 24.36, initial target @ 23.71.  I exited the trade @ 23.71 when the down trend paused.

Good: execute trade according to plan.

Be Better: I should not take this trade as only one trade I should take every day.

2012.02.24 CROX

CROX last session is a narrow range day, today it gapped down. It presented a good short opportunity.

In 2-min trade, it did not give a good enter point.  I short @18.65, initial stop @18.8, initial target @18.50. The trade did not play out. I cut loss at 18.75.

Good:  Follow the plan to cut the loss.

Be Better:  Need to find a good enter point.  No need to force trade.

2012.02.23 Trades QCOR

QCOR last trade session was a narrow range/inside day, today it  gapped up. This makes it a great candidate for long trade.

Long @36.00, initial stop @35.75, initial target is @36.25(the upper channel).  It popped up next bar and exited @36.45.

Good:  It’s a good setup in daily chart. Entry and exit are good.

Be Better: Still feel emotions when in the trade, try to be more emotionless. Accept the risk when it.

Following TNA is traded in simulator account.

Trade TNA 2012.2.22

TNA daily chart is not good setup, it falls back to channel and expected to be a range day.

Short @ 60.85, initial stop @61.15, target 60.51.  The stock touched 60.51 but my order not filled. I stopped out @61.00.

Review:  Overall, it’s a good trade, I executed the trade according to plan.

Be Better: Need to find a better setup on daily chart first.

SINA 2012.02.21

 

SINA in daily chart is a inside narrow range bar and also between two channel lines. It’s expected to break out, but not sure which direction.

I shorted it @67.25, stop price is @67.70, initial target is 66.72. Stock traded between 67.20 – 67.50 for another 15 minutes before it broke down. I exited @67.00.  The reason of my exit is that it showed some support at 67.00 and also general market is going up.

Trade Review:  I did not follow my initial trading plan to exit at target point because I am afraid of losing my paper profit. Later SINA price dropped to $66.0 without any pullback.

Good Part: Entered the trade for trend direction, hold well when the trade is in loss but not reach stop price.

To Be Better:  Fear of losing profit let me disobey my trading plan. The better action should be tight stop price when trade works out, not move target price close.  In this case, instead of close the position @$67.00, I SHOULD move down my stop price to $67.35. And when price keep dropping, I SHOULD tight my stop to previous bar’s high price. If execute the revised plan, I should be able to exit at $66.25 or $66.00.