I only got in at the 2nd peak/resistance after the stock ran substantially after the first break peak/resistance. I was quite unlucky to be stopped out as the stock price gapped down to my stop loss during opening. The stock recovered strongly for the rest of the day and ended up with a bullish up bar. It seems to have the potential to break the third peak/resistance and form the new 1-year high tomorrow but I decided not to re-enter the stock since I have other counters with better upside potential.
Entry Date: 23 Dec 09
Exit Date: 11 Jan 10
No of shares: 1,000
Entry Price: $3.970
Exit Price: $4.010
Financing charges: -$4.68 ($0.39 x 12)
Commission: -$30
Profit: $5.32
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{ 4 comments… read them below or add one }
Hi, I just came across your blog lately and have been reading your works. Don’t mind me asking, are you buying too few shares? 1 lot or 2 lots? You can barely profit enough to cover your commission and finance charges for each trade. (sorry, I’ve not come to this, are you using margin/leverage trading accounts, why is there financial charges?)
Hi, I just came across your blog lately and have been reading your works. Don’t mind me asking, are you buying too few shares? 1 lot or 2 lots? You can barely profit enough to cover your commission and finance charges for each trade. (sorry, I’ve not come to this, are you using margin/leverage trading accounts, why is there financial charges?)
I wish I have the capital to buy more! I think you are misled by the gain of $5. It is so because the trade terminated sooner than I expected it to be.
Yes, I take leverage buy up to 3 times my capital.
I wish I have the capital to buy more! I think you are misled by the gain of $5. It is so because the trade terminated sooner than I expected it to be.
Yes, I take leverage buy up to 3 times my capital.