Feb 17 Tuesday Recap ,Using the @Modern_rock Monitor Set Up

I was mainly looking to short the overextend tickers from the watch list of 10 stocks.
First thing I looked  for is which one of all 10 will open with gap. I use 4 to 6 monitors,
which makes this task a walk in a park since no need of flipping screens with charts.
In the past that was my biggest problem. So I watch many tickers for ONE strategy.
Why? ( because @modern_rock does the same )

1. One of the many tickers will probably do what I expect and make my day.
2. It is very relaxing when you look for one particular thing to happen in many different tickers.
3. By watching many tickers laid out I can instantly compare which one is the best mover, so I am not forcing a trade in only one that I'd be normally glued  to,  when using one monitor.

So yes more monitors and good machine is excellent investment , one good trade pays for all !!!

CRIS did literally exactly what I was expecting.
The daily overextended set up, rallied parabolic to 3.40 major daily resistance of the gate,
Stalled, made double tops 3.40 , followed with one lower high.
I didn't feel like shorting the exact 3.40 top, wanted to see more weakness  confirmation,
so I shorted the break below 3.35 , confirmed with Time and Sales prints and was ready to take a smallest loss if did not gave me green position instantly. The drop was dramatic, and covered with 19c gain , 3.15 per plan from yesterday.

CRIS  the plan ( expectation)

CRIS short 3.34

The second attempt was stopped out with 6c loss later in the day after CRIS made NHOD 3.50. made few lower highs . but I missed the right one. Not big deal it was per plan. Will watch tomorrow again CRIS for same set up. ( this is even getting boring making money the same way over and over again )



FNMA long trade was not per plan, it did not pull back to the 2.50 area  as I planned, instead it was strong open, shot up to over 3.10, it dropped, I  tempted to short it, but I stuck to the original plan for long since it just broke out of major daily resistance level 2.50.
The great thing is I did not chase it. 
I waited patiently to have a drop, Later it was gearing up, kept watching how it was making higher lows, (Natan calls them ABCDs and I'm  thankful for his trading tips, I highly recommend his services Investors Undergorunf), strong way above average volume.
At one point I felt like I am missing a great possible move. From my experience , this feeling of "missing a move" is very dangerous. Blew few accts in the past  So I put myself together, watched the time and sales like a hawk, and decided to give it just a few pennies tolerance if I get in long. I longed it at 3.16, had my finger on the trigger to exit immediately if was gonna go against me, asking myself the 2 questions,
It did not trade below 3.16 and was patient with a good trade for nice ride,   to lock in gains at 3.46,
( thanks Nate for the trading tips again)

FNMA long 3.16

FNMA  took profit 3.46

CLF was trade per plan did exactly what I was looking for the entry. Bough long on the drop towrds the 6.80 support at 6.85.

CLF long this pull back  6.85  against 6.80 support

I was anticipating that that 6.85 will hold, however at t he next weakness I bailed out with 1 c loss, having in mind that two things can happen:

1. May drop much lower so Im not gonna suffer red trade if I get out
2. May always re-enter if shows strength in this 6.80, 6.90 range

CLF stopped out with 1 c loss

And it did bounce again from the 6.80 bottom , and I did did re-enter at EOD 6.90 long for swing since the 6.80 was  holding all day from the very first parabolic drop in the AM.

CLF long 6.90  swing

Risk remains below 6.80 level, and will abandon the plan for long swing if I get stopped out tomorrow or so. I am a bit nervous since it didn't make positive close as I really wanted it , but I will take this chance, I think the risk vs reward is acceptable ( may easily go to 8.00)

CLF   daily

If anybody has any ideas , or see that I'm doing something out of line, or think there is better way of doing things please let me know. I like to be criticized, and I am dedicated to trading for a living.

Salute !