Tuesday, April 22, 2008

One That Got Away

I still really need to work on becoming a more patient trader. Take a look at my trade in XTO. I was watching for a run to $69 at least. When the stock rose out of its base (where I bought) there was no volume, and I got caught in a choppy move that cost me $100.



10 minutes later, volume came in and the stock made a nice, easy 80 cent move.

Note to self: trade only when volume comes into a stock.

3 comments:

mdawsz said...

Sometimes less is more.

Dinosaur Trader said...

"You're so wise... you're like a miniature Buddha, covered in hair."

-DT

Snowy said...

Yeah, I got caught in the volume trap too ;-( But stocks from http://www.hototc.com/ typically trade in high volume after an announcement.