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January 23rd, 2007 by eyal | Filed under Day Trading. |
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I was lucky to catch RIO which did quite nicely. I took some partials which obviously reduced my final R but the market looked slightly choppy with just a few sectors taking part in the up move. Anyway the end P&L is +10R.
[...] Only two stocks made it through my volume screen today, and one of them was disqualified for gapping through my trigger price. The gapper was PHI, which left Companhia Vale do Rio Doce (NYSE: RIO). It opened just below the trigger price, meaning you had to be willing to trade it in the opening 5 minutes. Unfortunately for me, I was not! By the end of the day, it had done nearly 3x its normal volume. With a 15 cent stop, I think I’d have maybe taken 2R at the 10AM dip. But, had I been braver, this trade would have been worth 9.4R or so toward the end of the day. Wow! [EDIT: I see Eyal caught RIO today. Good Job!] [...]
10R a day! Wow…that’s cool.
Thanks, Gav. I got a bit lucky. Highest R per day ever for me, once in a blue moon I guess.
I am still looking for my blue moon day. LOL.
Good job.
btw, read your comment at Richard’s blog. Are you looking at any Options trading book?
I am starting options trading 101 now.
Yeah I’m working on adding more knowledge/tools/skills. I’ve never touched options before, so I will be getting this one: The Bible of Options Strategies
What do you mean options trading 101? As in a book or generally getting some basic knowledge?
generally getting some basic knowledge.. I will check out The Bible of Options Strategies as well.
Great trade!
Thanks, estocastica.
Not to worry, just an aberration, I’m in the process of returning those R’s back now :-)