Breakout Trading using Time and Sales

[amit1986]

+28 cents per share DPZ breakout to new highs...got out far too early...1000 share position.

Should have reduced position on that stock as it was far too volatile, but saw some momo building and identified a strong buyer on level 2. If he had disappeared, I would have exited for a modest loss. Didn't really enjoy that trade one bit.

 

[amit1986]

DPZ still continuing its ascent higher with some good momo...but it is simply too volatile, so going to stay away from it...the only reason I took it initially is because I had a tight stop from what I was seeing on level 2...it's really hard to read right now!

 

[Mr. Charts]

"enjoy" !
It's about making money, not enjoyment !
Richard

 

[ChocolateDigestive]

are you watching priceline.com inc its looking ripe. what is momo?

 

[amit1986]

"enjoy" !
It's about making money, not enjoyment !
Richard

I suppose "enjoy" was not the right word here...I simply didn't feel like I had any control in that trade...very difficult to manage and found myself debating several times whether I should exit. It was a very hairy ride with bids/offers fluctuating wildly. A bit of relief to get out !

Great job on SINA sir!

 

[amit1986]

are you watching priceline.com inc its looking ripe. what is momo?

PCLN is far too expensive and no strong trend, so certainly not watching it.

"Momo" is a term I learned from a dear friend. It means momentum.

 

[Mr. Charts]

I suppose "enjoy" was not the right word here...I simply didn't feel like I had any control in that trade...very difficult to manage and found myself debating several times whether I should exit. It was a very hairy ride with bids/offers fluctuating wildly. A bit of relief to get out !

Great job on SINA sir!

Thanks, will post SINA chart and analysis elsewhere but might post simple chart on t2w later if the mood takes me.

I do know what you mean about not enjoying a trade, when I trade something like that I usually don't enjoy it either as I don't feel in control, but the profits are always a compensation
Will talk elsewhere - don't want to clutter your thread.
Richard

 

[amit1986]

Getting a bit chopped up right now:

CY: -7 cents per share breakout failed
CY: -4 cents per share breakout failed
MRX: 0 cents per share (scratch trade) early entry failed

 

[evostik]

Getting a bit chopped up right now:

CY: -7 cents per share breakout failed
CY: -4 cents per share breakout failed
MRX: 0 cents per share (scratch trade) early entry failed

Hi Amit

I am watching POT at moment but getting chopped on others.

Maybe POT become a 'boredom' trade - something I am trying to avoid!

Cheers
Steve

 

[amit1986]

+6 cents per share MRX early entry to near high of day

 

[amit1986]

I should have been aware of the potential for sellers present near the high of day and exited on the first sign of weakness. Gave it too much wiggle room.

 

[amit1986]

Hi Amit

I am watching POT at moment but getting chopped on others.

Maybe POT become a 'boredom' trade - something I am trying to avoid!

Cheers
Steve

Thank you. Don't quite like the chart on POT, but will keep an eye on it.

 

[amit1986]

MRX forming an ascending triangle

 

[amit1986]

didn't take the MRX breakout as I didn't see enough momo...

 

[amit1986]

Nothing else is happening...really very boring.

 

[amit1986]

-2 cents per share CLGX breakout failed.

 

[amit1986]

Finished for the day. Might come back in the afternoon after 2pm EST to trade, but won't be posting here.

Good trading to all!

 

[amit1986]

Got the following stocks on my watchlist this morning:

DWA, FSLR, KOG, PANL, SODA, GNTX, EXLP, and NKTR.

SODA is likely going to be too volatile to trade, so only trade it if you can get a good read on it.

EXLP is a bit of tiddler, but it does have some pre-market volume.

 

[amit1986]

+11 cents per share DWA breakout to new highs (1000 shares)

 

[amit1986]

watching YPF