I made another day trade (and the last one until tomorrow due to NYSE rules) that again involved FAS today. I did not execute this trade well at all. I made money, but everything including hitting 'Buy' was a mistake. The setup wasn't good. FAS made higher highs and higher lows, on a rising TICK, like the other trades, but I noticed that the upward momentum stalled longer then it should have. I decided to jump in anyway and got lucky to make any profit.
The momentum stalled because 7.84 was FAS's close price yesterday, which means other financials were near it's close yesterday. I didn't do the due diligence marking price targets and key areas before trading today, if I had, I wouldn't have made the trade. Open's and Close's are choppy areas and hard to read.
I'm glad I made another gain, but the execution need to be much better (not trading just to trade).
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