Tuesday, April 1, 2008

Keep Your Mind Open When Trading

I wasn't going to do a post this evening, but I wanted to point out my stock of the day, MTL.

Now looking at this chart, it seems pretty obvious that I made my money in the stock, $428, on the long side.



However, that would be wrong. I actually made my money on the short side with the following orders:

9:46 Short 200 MTL at $115.60.
9:52 Buy 100 MTL at $114.71.
10:15 Buy 100 MTL at $112.19.

The point is that in the stock market, there are many ways to make money. Everyone has their niche and everyone can look at the same graph and see different opportunities to exploit. That's what makes the job interesting.

It's also why you always need to keep an open mind when trading.

1 comment:

Woodshedder said...

Welcome back, my friend.