Monday, September 17, 2007

The One That Got Away

If you followed me on WallStreak today, you would have witness my trade in BIDU-- real-time. My readers know me as a swing trader, but with all the volatility and uncertainty in the market, I have decided to profit from day trades rather than committing capital to major positions.

Today I had a profitable trade in BIDU, I entered on the 5th bar after a nice bounce of the 5 day EMA @ 243.00. Within a couple of hours, I was up $4/share and decided to take profits. Normally I would have felt great about this trade, but as soon as I sold, the stock rallied for another $6/share. If I would have waited for the trend to end, I could have caught the whole move.

It's a lot easier said than done when you have real money on the table, but next time I will wait for the trend to end. What a beautiful chart!

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