Daily Journal 1/08

Daily Parameters
total trades / day : 3
max amount risk / trade: $500
max position size / trade: 500

• The stock is active with downward momentum
• Short entry at $118 on the break of the low of the 3rd bar
• Initial stop at $118.20 which is the high of the 3rd bar
• Covered 500 shares at $116.30 before the close
  
• Trade closed with a gain of $850 ( +8R )
  

• The stock is active with strong upward momentum and confirming volume
  
• Long entry at $51.60 on the break of the high of the 3rd bar
• Initial stop at $51.20 which is the low of the 3rd bar
• Sold 500 shares at $53.75 before the close
  
• Trade closed with a gain of $1075 ( +5R )
  

• The stock is active with strong upward momentum and confirming volume
  
• Long entry at $91.30 on the break of the high of the 3rd bar
• Initial stop at $90.95 which is the low of the 3rd bar
• Sold 500 shares at $93 before the price approached a multi-day resistance
  
• Trade closed with a gain of $850 ( +5R )
  

Total Trades taken: 3
Winners : 3
Lossers : 0
R Total: + 18
Total P/L for today: $2710