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Wow, Rhino
What a nice trade! Looking at the five-day chart on IMON, I can't see how you could have handled the trade any better than you did!
If you sold some at 4 today, you did great. I see that it held that level for a long time and actually started slightly down around noon. The only way I can imagine having been able to stay in for more than four would have been to be using CyBerTrader (which I'm assuming you did), follow it closely with properly set Dynamic Ticker, probably selling at 4 then re-entering again later in the day when momentum picked up. But that second trade would have held lots more risk, imho, and you would have risked losing what you had already made. Using chart and moving-average might have kept you in longer, but would still have exposed you to risk of a sharp pullback.
I have found that once I make an unusually large profit on a trade, trying to re-enter on pullbacks to get more usually has the reverse effect and I give back some or all of my initial profits. Each successive oscillation becomes more difficult to read and usually is smaller than the previous bounce. Also, the trend may be difficult to read short-term, and heavy volume may make it difficult to enter and exit on a timely basis.
Any way you slice it, I think you did a great job on this one. However, after seeing it pullback late in the day from 6 to 5, then back up near six, I would have had to sell all and call it a nice trade. Done deal. Good enough. If the closing trend was strong, you might hope for a gap up on next Tuesday, assuming nothing adverse happens by then. Let's hope you get two more points out of the sucker!
I was in MKTW today for about 10-15 minutes and got over 10 points, small shares, unfortunately. Did you try to ride that puppy??
Bill |
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