Thursday, February 21, 2008

COINW- What a Roller Coaster!

Man, after that trade, I had to go for a run. I just got back running a bunch of stairs over looking a huge cliff here in Newport. I run there a lot to reflect on my goals and what I'm doing.


Well, I got entered COINW at 6.62 It immediately started declining and at one point I was down about 15% I think. When that happened I basically said "screw it" and didn't really care anymore what happened. Then the QQQQ's started declining pretty rapidly and I that just reinforced me not caring.


Right after the price started stalling and not moving anymore, it slowly inched it's way higher and all of a sudden I see an order for 15k shares come in and that started driving the price straight up. Of course, the moment I see a profit I take it and I sold at 6.77


My exit strategy for taking profit is simple but I have a hard time following it. When the bottom of the most recent candle gaps up above the 7 EMA, take profits.


In retrospect I got out way too early. It ended up shooting to around 7.50 but I'm happy I didn't end the day down huge, lol.


coinw trade chart 3

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