On last trade I should be stopped out but I missed it. I sold QLD @ 73.10 today that was non margin trade.
Today I have to trade with less buying power.
On QT I have DMH, P, DML, then R1, R2, R3, S1, S2,S3, I give attention to these points except for strong rallies and strong declines these points help a lot in buying or selling.
I do not know weather stock chart provide it or not.
I think I did not nailed the high price it went up few Cents more as usual I was eager to sell, LOL.
My grand father was a good trader he always use to say me regret it after selling do not regret by keeping it. I do not know weather it make sense for you but it has helped me.
I broke this rule few time and it always cost me.
About trend and selling where I sold,
This is the point where bulls needs to take stand as I thought and if I would be wrong stop would have taken care of it. On first attempt at 12:30 price failed to take out R1 but it also failed to take out Pivot So I was 70% sure that it will try to break it and reach DMH which was 72.11, oh yeh I sold it before it reached there because it took 4 th attempts to break it on 5 min chart. My stop was 10 Cents below P point once trade is profitable these things work pretty good.
Today's pivot is 44 you look good for your puts. EMA 34 is 44.08.
Happy trading, and thank you for kind note.
Farooq
This post is for educational and amusement purposes only, and is not to be interpreted as trading advice. Consult your financial adviser before placing any trade.
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