TRADING PLAY POSTS (below)

Below you will see (sporadic) posts of trades I have taken, with write-ups of each. Although most posts displayed are of winning trades, please know that I "do" make my share of losing trades.

Look through the following trade-shots to see if you would have made the same trades, and if (according to your trading plan) you would have managed them differently, for better or worse.

In any case, my mind-set has been captured in these posts and hopefully you can take something from them.

Thursday, July 31, 2008

7/1/08: RVBD - Gap play


This was a Gap trade that gapped just under hourly Major Support. I caught the entry near the 10:00 Reversal Time. It was a Sell Setup after a retracement back to a minor resistant area, after gapping down into an hourly downtrend.

I took it as a "scalp" trade off the 5-minute chart, so I covered my position after 3-bars down into the prior morning support area - clearly too soon (always easier to say you should have gotten out "here" after the fact).

...check out the chart!

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