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April 26th, 2006 by eyal | Filed under Day Trading. |
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I took 4 long trades today as follows:
1. UARM - stopped out for -1R. The setup just didn’t work and the stock crumbled.
2. LIFC - stopped out for -1.1R, a bit of slippage there in the entry. This was a forced trade as it wasn’t a prime candidate for me. It gave another dummy entry later in the morning which worked well but by then I was out.
3. SANM - closed end of day for +1.2R. It had a nice run but pulled back late day. C’est la vie.
4. RFMD - closed end of day for +2.9R.
End P&L is +2R.
I noticed that I tend to take more trades these days. It’s partly due to earnings season and partly due to adding the Trade-Ideas scan which produces some pretty nice candidates. Almost all my trades now appear both on my usual IB scanner page as well as the Trade-Ideas scanner I configured a couple of weeks back. It’s good to see this sort of confirmation from two different sources. You can take it for a test drive by clicking my aff link here.
Do you use the hotlists in QCHARTS?
Hi John, I hardly use the QCharts hotlist anymore. I can get more or less a similar list these days from all three sources but getting them from IB and TI is far easier and less prone to mistakes.
Thanks.