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January 12th, 2006 by eyal | Filed under Day Trading. |
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Well, I was watching market action carefully but I guess I was not in top shape tonight (end of week tiredness catching up). So my top suspect for the day was APOL - good volume, active, down gapper - same direction with the overall bias I saw in the morning and so an order went in. And then the waiting started, waiting, waiting and more waiting until my mind convinced me, nah market is still in consolidation, abort. So, there goes the orders and there goes some nice multiple R profit. I ended up not taking any trades (there was nothing really other than APOL that interested me this morning with the exception of the top active stock IDNX which was against the slight morning market bias). Oh yeah, I was also tempted to short VISGD and was ready to key in an order when I did a final check and the stock fails my volume criteria so I resisted doing an ‘anyway’ trade on it. This turned out to be a good decision.
So, end of day, no P&L for today. Lessons learned - patience and that my rules are fine, it’s the execution of the same that still needs polishing but I’m on the right track.
