I mentioned yesterday that I have guests for the next couple of weeks so wont be doing much trading or posting. I did end up with some trading time available on Wednesday though, so although I skipped the pre-market research, I was able to squeeze in some quickie trades on core stocks. One of them was a bad mistake. Here was a 5-minute trade on NVDA:
This wasn’t a great setup and it’s more by luck than judgement that it worked out. If I hadn’t been in a hurry I would not have taken this trade. In my trading journal I rated it as a failure, even though it put $340 in the account. It’s never the financial result that counts, it’s all about the execution, and here I failed on almost all counts (I did exit well, as soon as it showed sign of weakness, so there’s that).
Another of my core stocks is another chip-maker, AMD, which produced a better trade:
That’s a much nicer setup with a much clearer target. It’s unsurprising that it produced a bigger profit, making $450 in around fifteen minutes.
I really am quite angry with myself for the first trade. I know I only took it because I was in a hurry and that’s entirely my fault. I was very lucky it worked out.