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Wednesday, March 18, 2015

Three Trades Three Winners BIOS RAD BDE

Another day without braking rules, did not trade much , although there were some great opportunities. Besides the two shorts,  the BDE was excellent long. It held the yesterday break out above 9.40, for a nice long run for almost $1.00 gain. A text book long trade above the major daily support 9.40 which was a  resistance until yesterday. The 9.40 is  daily swing high.
This long trade idea was actually born yesterday when I was short. This is how it all came down yesterday in explicit details that I like to re-read once in a while in other to condition my trading /mind fitness. BDE the yesterday's short real time review 


                                                   BDE  daily      BDE Tuesday  Wednesday

RAD shorted 8.26 

                                                      RAD short 8.26  covered twice
BIOS short 7.71
BIOS was very patient with this trade when idea is right  
BIOS triangle argument: was it ascending or descending ? Was it long or short triangle?
Well who cares! All I care is weather the bottom of the triangle is far from any daily support or near by. If the same set up of such triangle was right above major daily break out point, daily resistance that turned to be a support, I would be long biased.
In this case study, the triangle on BIOS was on far overextended daily level, with no close or near by daily support where longs may hold onto their positions.
That how simple I like to explain to myself when I wander to be weather short or long. No indicator can 100% guarantee me the direction of the move.
So why bother with complicated studies, when can make it all very simple and less brain hurting?

BIOS    short 4.71    



Note: Keep it simple stupid so a 10 year can understand. Explain to a 10 yr old , if he doesn't get it from the first time , DO NOT TRADE IT !

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