Friday, November 2, 2007

PRGO Late Trade

Traded PRGO a little late in the day and late in the rally. I was watching it move all day as I was in CPHD and ERES, lol. Saw it pullback a little and got in at the perfect time. Which was interesting because I felt really uncomfortable doing the trade but I also felt really confident. Something I didn't feel during those other 2 trades. In fact, I felt like I made a mistake right when I bought CPHD but I held on anyway to give it a chance.

 

I had a target of 29.20 when I got in at 28.91 with a stop at 28.60 PRGO hit my target of 29.20 but I never pulled the trigger. I got that thought in my head again that, oh it'll go higher. Well, it didn't basically peaked and fell again. I had my finger on the trigger as I was watching it come back down and sold on reaction when it hit 28.99

 

I'm not too worried about selling immediately when I get to a loss on a stock. That part I can handle but I need to focus more on selling when it hits my target. I think I might start using sell orders when it hits my price target and keep using my mental stop losses until I can sell immediately when it hits my target instead of waiting around for it to go higher and then holding it as it comes back down.

 

PRGO - Candle 2h4m_3m 2007-11-02 124941

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1 comment:

Wayland said...

It looks more like a bear trap to me...