After a hectic day making hay while the sun shone yesterday, Wednesday was a bit more calm. Proving once again that the previous day’s big winners can be worth watching, there was a bit more to be had on NVDA:
This obviously was not in the league of the previous NVDA trade, and the setup was nowhere near as good. But taking more than five hundred dollars profit from a trade lasting less than ten minutes is, as we all know, better than a poke in the eye with a blunt stick.
Another eye-poke-beating trade came in the form of ABT:
This was again, not the best setup, but once the price started heading north it did so with determination. Honestly, I probably should have entered this somewhere just above $81, but I waited it out for the textbook entry. I went with the textbook exit, too. So what could have been a two thousand dollar plus trade, ended up netting only $610. That’s the way it goes sometimes — we follow the rules and occasionally it means we miss out on a bigger profit. But more often than not, following the rules means we miss out on a lot of losses. Rule-following is a net win, and that’s what matters.