April 25, 2008

Net: -$125
LFT: $252 ($360 unrealized)
Trades: 26
Shares: 7400
Frame of Mind: Confident

bp-042508-15min.pngbp-042508-5min.pngbp-042508-1min.png

Started shorting BP at .90,  at the open, for what I thought was an ORB, this was going to be a 1-trade-day so I filled in 600sh. I identified supports at around .40 and the pivot. However it dropped only to as low as .54 and reversed from there. I trailed my stop at .90 and eventually reversed from there at .96 when I saw the strong 5min candle.

This proved to be another correct trade however I didn’t take my shares at around the top .44, the high of the previous day. Went back down to my price and I cut at .87 where my LFT limit was already hit.

In effect I made flat on it for the day.

dow-042508.png

I lost everything on DOW, chopping me around that what I thought was a breakout area at around .30

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