Tuesday, January 30, 2007

Day Trade: Long NMX 30-min chart

Entry @ $128.90 / 700 ***late posting***




Entry : $128.90




Size : 700




Exit : $131.48




Stop Loss : $127.80




Risk : 1.1




P/L : $1,806.00




R : 2.35
I created a trade trigger to buy at market price when price clears $128.25 and my trade was executed at $128.90, a $0.65 slippage...or more like a robbery. This is a classic FLAG price pattern which usually resolves to the direction of the pole of the flag. I decide to keep it until the end of the day after it cleared a major resistance in the daily chart.

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