Saturday, August 25, 2012

Last one till next week.

Ok, this one I was actually waiting for the breakout and it was on ChessNwine watch list. I do not trade for a living and like you hear some golfers say, I'm a hack. But with that said, I feel if I actually gave myself the time to do this once retired, I could do it fairly well. I manage not to lose to much money year over year and for the most part tread water. That is not my goal. My goal is to make money to entertain my self and mind. I really do not care if I'm rich, but like most things that I do, I want to be good at it. 


I wanted to hang around the house and see what this stock was going to do, but I had some errands, like changing the oil that just had to be done. I was 2.5 hours behind the breakout on this one and I bought near the high of the day. I guess this is better than 2 days behind, as I normally do. :) The 50 day ma's are rising and we have a prior breakout out af a long consolidation along with a breakout of current consolidation. What kills me is what I show you next.
Above is the 10 minute chart. I moved some key information from the daily chat so you could closely see breakout, purchase price and then the end of day selling. Kind of a disappointment to see that right after pulling the trigger, but my stoploss is set just below the last consolidation channel.

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