Stock Watch 5.12.11 “Practical considerations of Pragmatism”
Pragmatism – is a practical approach to problems and affairs. Not always a strong suit of traders. No matter how long or how much experience we have as traders, sometimes we are just flat out wrong. I know according to most service pushers being wrong never happens but we know that’s BS. What I want new traders to remember that it is okto be wrong as long as you were following your plan. When you begin to take losses because you changed your rules, changed the core of your trading style, traded out of revenge or anger or deviated from your plan you deserve to lose money! Harsh as that may sound it is the truth. Profitable traders have the ability to operate with emotionless machine like precision. That makes it easier to understand and move on from losses. Trade well 🙂
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OXGN
Round 1 went to OXGN as I shorted too early. That part was ok. What was not ok is that I let it go too long ( read above post). Anyway, this is in play Thursday. Prefer to see a bounce then short again.
TISA
This is a money makers chart. If its strong in the morning bases and then goes I would long this. If the breakouts continue to fail I would short. If it gaps down I may not play it at all.
LVLT
Nice little breakout at 1.85. tops I think there is a 2.10 run at which time I may short this. Only if volume is there. I’m not looking to scalp a nickle
QTWW
Bottom bouncing with authority. This thing was in animal mode all day. Shame really cause I didn’t see it until late. I’ll be watching for either a consolidation breakout or a parabolic move to short.
ZAGG
Good enough earnings to gap it up but not enough momentum to rotate it higher. I would like to see it work towards 10.60 and above for a long
