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March 14th, 2006 by eyal | Filed under Day Trading. |
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This was an odd trade. Couldn’t see any appealing longs on my watchlist and CMVT was HOT. The trade was quite a bad one from a risk/reward perspective as it run massively at the open and the up bar was huge. The final P&L is therefore a small +0.9R, less than 1:1 risk:reward ratio.
HGSI on the other hand could have been a very nice multiple R trade. It was on my watchlist from pre-market but it setup much later in the day towards 12 noon and by then I was back to sleep to catch another hour of shut-eye before the 2nd cow milking session begins (i.e. my day job). I know, not an ideal way to trade, but that’s how things are, for now.
