Wednesday, September 2, 2009
Day 16, $19,518
Markets had another down day. So far still a bullish trend and none of my current trades are broken yet. Although my account value is much lower, my trades are still working just so long as my support levels hold. My time frame will still be the same. If everything were to be at these levels on September 18 my trades would be closed at their maximum rewards. I am a little bit nervous still because of my 10 contracts of IBM instead of 5...which was my mistake when I had placed the order. I had also placed my NTES trade at about the same time. With a smaller account, I think it might be better to not place all my trades at the same time. Had I spread them out it would have acted as a bit of a hedge for me to trade the trend. Right now I am a little bit limited, but I follow through an any needed secondary exit points if the time comes. There hasn't been too much bad news so I attribute the downward movement to profit taking.
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