Tuesday, April 24, 2007

Jinx, I do it to myself all the time!

It was just too happy with my +1% gain in PLNR yesterday evening and, inevitably, the stock just tanked today. Utter crap. And to make matters worse, the AM window just could not come soon enough and I sold near the low of the day, no surprise. All I have to understand is that as soon as my capital is built, I can forgo the window system and trade real targets/stop losses. Sold 39.57784 shares @ $7.40, a full 2% below my desired stop loss--dang trading windows!

PLNR: -$7.13 or -2.38%

As for a watch list: IFC s and ASH s look decent.

I am tempted to start tweaking my method here. PLNR coupled with PSA just kill me. I've been up >1.5% on both and watched the stocks tank with loses >-1.5% in the end. There is no trend to the market right now and multi-day gains are hard to come by. It is tempting to start taking profits super early-say 1/3 at 1%, more at 2%, etc., but I don't want to give up future gains just for my piece of mind. I know my system works, so I think I am going to continue prodding along. In the meantime, I am going to work my ass off building a sizeable trading account at Zecco and start paper-trading intraday using my simulator.

For now,
Masterjaz out

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