Quote from tradingbug:
You must take trades that make sense to you in order to learn.
The goal is to gather the necessary education, skills, and experience while having a positive EQ.
Spyder provides this and is really enabling a lot of people.
I am realizing that me spouting off what going up is not helping or enabling.
I am glad you made money though.
No worries. I would never hold anyone responsible for my making a bad trade. It doesn't bother me at all when you or anyone else makes a prediction. It feels good to make the right prediction.
This is why I traded that stock...
1. It is was on my hotlist.
2. There was increased volume at the close the day before. ..see the 30 min chart.
3. On the 5min chart the MACD showed a positive trend (circle)
4. there was increased volume with price appreciation (square)
5. the Stoch confirmed the trend.
6. I considered the PV relationship that says if volume is increasing then the trend will continue. So I waited until volume picked up a second time (purple square) at got filled at 13.47
7. I was watching the volume continue to decrease (blue line over volume) and waiting for an exit. Because the PV relationship also says that if volume is decreasing then the trend will change.
8. I closed my position at 13.73 before the trend changed.
I never intended to hold this longer than a few minutes because the trade was not keeping to system, i.e. like you mentioned, this stock was not in dryup.
Gooch87
