Quote of the Week

"In this business if you're good, you're right six times out of ten. You're never going to be right nine times out of ten."
Peter Lynch

Missed Winner

1 minute chart

Daily Chart

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Stock:WYN

Entry Bar: 7
Time Frame: 25.01
Entry Green Line: 25.01
Stop Red Line: 24.69
Result: missed trade..oh well
Setup Grade: B+
Notes: This is a great example of when you trade to not have distractions around you. On vacation, tracking WYN and was distracted for 30 seconds....trades takes off, ends up being a winner for the day...plus making quick trades off a laptop doesn't help. Missed money is better then lost money and never ever chase a trade!

Either way, nice break on the daily chart and setup on the one minute chart.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.

30 Minute breakout 1 minute chart - DNDN

1 minute chart - 3 different places to place a stop

Daily Chart

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Stock:DNDN

Entry Bar: after 10:00 AM
Time Frame: 1 minute
Entry Green Line: 36.01
Stop Red Line: one of 3 places.
Result: up to 1.2
Setup Grade: B+
Notes: This is a trade a reader made...the 5 minute minute gap & go was a little extended on the 1 minute chart. He tracked the stock, using patience and discipline and saw a nice setup after the first 30 minutes. Waited for a break of the 36 whole number using the one minute chart to help time the entry. Could have used one of 3 places for a stop, depending on the risk factor.

* The setup grade is based on rules outlined in my business plan & not for the end result. Feel free to post any trades you made today that you would like commented on.