Trade – April 27, 2016
Small post here folks, this was a mobile trade as I wasn’t able to be front and centre in front of the charts today. I knew that I was going to watch SEED and BCEI for some action today. Having traded both I understood the areas I wanted to be in. So, with that, here is BCEI.
Being mobile, and after yesterday, I didn’t really show this the patience it deserved. I had an idea of a price area and set my orders accordingly. I got short at $4.15 after the high under $4.20 set in. Small risk but I also wasn’t willing to let this one have legs. Initially my profit target was $3.95 but after it bounced off $4 twice, I got nervous. I decided one more dip and I would get out. So, I took a $4.01 exit for a 14 cent profit. The trade itself worked out perfectly and it turns out I should have stuck to my original numbers. I also should have been adding anywhere under $4.20 but I didn’t. Again, I was limited being mobile. At the time of this writing, this thing is just above $3.90. Dang! Should held out for more! Oh well. I was definitely affected by not getting this right yesterday. I was worried more strength would come in on that whole dollar amount. If we were away from that whole dollar area, it would have been easier to stick to my target just based on the action.
Tomorrow I will be at my desk so I should be able to focus more. See ya then!