SMRT Great Execution, Again

Didn't see too many stocks in the morning that fit my criteria so I went to see what SMRT was doing. It setup exactly the same way it did on Friday so I took it immediately.

 

Got in at 7.07, I kind of figured it would pullback like it did, but I didn't know when. I unloaded the first 25% once I hit a 1% gain. The second lot I bailed a little early not quite a 2% gain but I didn't like how it was hitting resistance on weak volume so I unloaded the second 25% slightly early. From there I broke even by raising my stop to my entry price and trailed it as the price kept increasing. Volume looked great, momentum was solid and going in the path of least resistance. I did however, sell my last 50% at 7.27 I didn't like how the momentum was declining pretty fast and there wasn't much volume but selling. I guess it was more of an impulse trade and I was getting bored lol.

 

Now I know why pro's say that good trading should be boring. I was bored as well and actually got pissed as the price was increasing because I knew I'd be sitting longer waiting to sell at my target. What's been keeping me in is I've been listening to a lot of music. I might even just start surfing the web and read some tech articles as the stock is doing its thing, and stick to my guns (stop's) no matter what.

 

SMRT Perfect Execution

Had an amazing trade today with SMRT. Right after I went short at the open and realized it was wrong. I sat back and looked for a strong stock going against the crowd, and I found one.

 

Got in at 6.51 Stock increased 1% and I unloaded 25% of my shares at 6.58 at that same time I cut my risk in half by raising my stop from 6.40 to 6.45. Stock rallied another 1% and unloaded an additional 25% of my shares at 6.65 At this point I raised my stop to break even to give myself a risk free environment to work with.

 

I let the rest of the shares ride while trailing my stop behind it. For every 1.5%-2% increase in price I raised my stop 0.5%. When it hit the R2 line at 6.90 I was more aggressive with my stop and raised it to 6.80 because I didn't think it'd break an R2 line. Volume was declining and RSI was weakening so I decided to be aggressive. It ended up falling to 6.80 after it tried for about an hour to break R2 and I got stopped out at 6.79