Monday, December 28, 2009

Monday Wrapup (12/28) - $287 gain

Not much to write about today.  Just one trade taken at 9:39AM on a short countertrend setup.  Took a little longer to develop this most of these setups, but after a 2 tick drawdown, I ultimately scaled out for a decent profit.  Was a bit worried at the start of the trade because the setup wasn't the best.  Not much of a volume spike on the 3 min chart like I like to see, but there was a nice hanging man candle on the 1000 tick chart after a breakout to new highs.

Was tempted to take a pullback trade around 3:20 off the 15 min chart, but decided against it.  Looks like I would've broke even at best.  Didn't like the risk.  Would've probably entered had we managed a larger pullback.

So that's it 1 for 1 on a slow day.  Probably can expect the same of the rest of the week too. 

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