Watchlist: GR BCRX LVS RCL GNW SOA CAH ING SFD
Really having trouble with focusing on trading right now…also, TOS Paper Money wa acting up alot today.
…big issue right now is my new rule of buying on pullbacks. I have been great on not entering until something pulls back from the trend I think is developing, but have not waited until it clearly resumes heading back in the projected direction. I failed to do this 3 out of 4 trades today, but followed my rules on Orders, Exits, and Stops.
Longed RCL and BCRX around 9:50ish. RCL’s pullback continued for eight bars after I entered and I was stopped out for a $20 loss. BCRX did make a breakout move, but I was stopped out for breakeven.
Shorted LVS and CAH after 10am. Both of them bounced and I was stopped out for around $20 each.
So far, today was a range day. Playing reversals inside the range of the opening high and low would of worked better than trying to catch breakouts – however that is not part of my simple rule set yet. Right now, distinguishing between a pull back and a reversal is what I’m focusing on.
