What a day! I was all but certain that I was going to finish the day with a loss. My trades didn't pan out as I thought;on top of that, my reluctance to close my position in Haliburton (HAL) when it first hit my stop (target). I ended loosing twice as much as I intended to risk. My other trades didn't do much. PHG and SBS didn't move much-they remained very close to the entry points. I was sure I was headed for a loss on the day.
Then Netflix released their numbers....I didn't take notice of it until the 'good old folks' at Bloomberg mentioned it. I looked at it, and I decided that I would trade it. I initially wanted to short it, but I was too slow (and a little afraid) to take the trade. Luckily I was too slow (and the other thing), as I would've lost on that trade. I waited and waited. I made the decision to go long after the stock based a few bars, then pop (I missed three moves because I was scared!). Trading is tough, but doing it in the premarket and aftermarket trading sessions is tough, because you really have no idea where the stock price is headed (I conducted this trade in the post market session). I watched for a slight pause to jump in- then it happened. I made my first real trade for the 2013 earnings season!! I was excited for a few seconds, but I got over that quickly; that was until I thought I couldn't get out of the position because of a platform server issue. As the stock came close to the resistance area that I calculated, I decided not to be greedy and take what I made and go.
The trade lasted all of 142 seconds (2 minutes, 22 seconds lol)-just a little shorter than the time it takes for the computer to calculate your score for the Series 7 examination (one of the most stressful times of my life!!).
Here are the trading results for the day:
On all the trades (except for HAL), my entries were good, as well as the management of those trades. Will to keep up the success tomorrow. Until then....