Tuesday, May 6, 2008

Daily Journal +34.5$

Hi all,

I know it's close to nothing, but I think it's impressive for a first trade..

I saw ERES on the most gainer stocks of this morning, and thought that while it went out side of range, and it's forming sort of base and break, it can very well be a nice first trade to take.

What is the Setup? - Gapping up outside of range, and B&B.
Where is Entry? - Higher than the B&B (Base and break) 14.47
Where is the Stop? - Lower than the last swing low at 14.23
Where is the Targer? -It wasn't predefined, I know I wanted to get between 1.5R to 2.5R
ERES Trade:



And for the mistake, the market is still on and the highest point(it's 10:10am now) of ERES is 15.24, so I could take more profits, but I really have to go and I had no time to wait..
Hope this continues like this, I really enjoyed trading today, and seemed like I picked a stock that even when the market was going down, the stock went up, so I'm happy with that :)
Have a nice day,
Tomer

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