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Tuesday, July 1, 2008

Hard to Follow

I want to show you how hard it is to follow someone if you are day trading.

fortune8 Today 07:53 AM with 1 point
FSLR buy 262.50 double bottom 3 pts stop.


fortune8 Today 08:07 AM with 1 point
Rasing stop to 1 penny from purchase price.


I did exactly that as you can see here in the screen shot.

However, minutes later, I changed my stops to 1,2,3 points respectively. It's not that I want to mess people up. But it can be difficult to update post, watch the market and watch your own trade.

Next, in this volatile market, if you are not around to watch the charts, you can easily turn profits into losses.

Look at the MOS trade at 138.50 with 2 pts stop. MOS hit low of 136, my stop hit, and the stock ran to 141+. Had I been watching the chart, then I might have changed the stop exit just as I did with FSLR. I just go whip-saw.