WIND Small Trade

Saw WIND when it was up around 100% of it's daily volume in the first 30 minutes of the opening. A very good sign. Pulled up the chart and waited for it to pullback to establish some support levels, which it did. However, I didn't pull the trigger on what I thought looked to be a good buy. I hesitated and missed the spike up again.

 

So I waited a little more and decided to take a relatively big risk and get in at 13.17 which at the time looked to be right under resistance, the opposite side I would normally buy on. My reasoning was the volume was now up about 150% and the buyers were greater than the sellers buy a huge number. So I got in wanting to ride a small wave up to about 13.30 Well my plan worked out but my target never got hit while the stock seemed to be stuttering to get up so I got out at 13.22 and at the moment of writing this looks to be close to the top of that small move.

 

The morning run looks to be over and I won't be surprised if today turns into a slow neutral day.

 

Bought WIND

I started changing things up a bit as far as how I go about getting into stocks. I noticed that I had a plan for selecting them, but I didn't quite know when to get in. I guess I'd just kind of wing it. Also with my horrible stop loss methods I get screwed up a lot. That's all changed now.

 

I've got a somewhat general plan on picking stocks but still detailed enough to weed out the crap. My entry point is a little more defined based on what I think is a good method to use. Coupled that with my methods of managing risk things should be turning around, but we'll see what happens.

 

Anyway, back to why I started this post. I got in on WIND at 11.88 and stop is at 11.55 The overall trend of WIND is up, EMA's are looking good and volume is relative to the price action. I set an alert to go off if it a decent support level. It hit that level and watched to see it confirm these levels once again, it confirmed, so I got in. It was also going up while the QQQ's are falling, which is always good to see.

 

Still working on my patience/over trading problem. I feel I need to be in the markets all the time but what I need to do is find a plan that I'm confident in and wait for the setups that I've created and buy it. If I do that enough I'll start gaining more and more confidence in my abilities and I won't want to keep changing up my plan and I won't want to over trade as I have a sound system to work with.