A good day today.
Made on CXO and BOE.
Bought and holding LIO, PH2 and LTR. All are slightly down.
Missed AXE (should have bought after the announcement).
From what I can see I should be holding tonight but I'm not cause I stuffed up hmmmmm -
CXO (sold too early should have let it run and given it at least till tomorrow morning because it had such a good break out - so bad decision)
LTR (am still holding it cause it broke out so giving it time to see how it goes tomorrow - right decision)
AXE (should have bought it after the announcement cause saw the momentum but didn't buy - bad decision)
OK so I've decided to change my rules a bit. Just got to get used to following them.
New rules are buy only ones that are breaking out to new highs or new 52 week highs on strong momentum and if they are not breaking out and are just generally wherever on the chart like AXE was today only buy those types of shares if they have a good announcement and are opening up after the announcement on strong momentum. I think this gives more chances of the trades being successful and cuts out some losses. They will probably not all work but I think more will work than not.
As for ones like LIO and PH2 that are just generally hanging around on the chart in their little BS universe they can basically just pi$$ off cause there is more chance of losing on those. Tomorrow more than likely I'll lose on both but wouldn't have if I hadn't have bought them so stuff shares like those for day trading. They might be ok for longer term investments (I don't know because I don't know anything about the companies) but for day trading, I'm going to leave shares like that alone and see if my day trading success rate gets better.
AGY did good today so might sell some tomorrow and do a clean out of my $hite stocks like LIO, PH2 and I think MTM might need to be flushed away as well because it sucks. Bought 10000 of it for 25c and it's 16c now. Depends how AGY goes at the open tomorrow though. If it looks ok I'll just hold and sell off the Shite stocks anyway and hopefully there will be something else around to make some money on,
Anyway I'm thinkin' out load and giving away my plans for tomorrow. Don't tell anyone it's a secret
Hope you all did good today
