Friday, February 29, 2008

OVTI- Took a Small Hit

There was really no reason for me to trade this. It's just been so long since I've been consistent with my trading but the market is telling me to stay out so I have been. I guess today I wanted to trade for the hell of it, and well, I lost money because of wanting to do that.


Not a big loss. It's small. I got in at 15.94 which I knew was going to be close to the top I was looking for an exit of about 16.20 or so. My stop was down at 15.70 which the price would jump down there then jump back up so I didn't put in a hard stop limit because I didn't want to be falsely exited out while it kept moving.


I bailed out at 15.83 because I had to go the bathroom sooooo bad but I wasn't confident enough in the trade to let it keep running. So I made an executive decision and bailed out while I could. Now that I'm back. It looks like it hit my target of about 16.20 (the black arrow) after it took a little dip which I didn't want to go through. I was wanting it to keep moving after I got in, lol like most people.


SO, the loss wasn't big. I got out way ahead of my stop, took a small, really dumb loss I guess you could call it. February is definitely a hard and bad month for me. Which would explain the very light trading going on here.


ovti trade chart

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