It’s always nice after taking some time off to be able to ease back into things with an easy trade. This one on Monday looked easy, but went pear-shaped. Fortunately there was a second chance, and it was far more benevolent.
Here’s the chart for ROKU:
The initial setup was pretty good, no red flags. Things started well, but within minutes the price was heading south again. A golden rule is never to let a profit turn into a loss, so rather than wait for the emergency stop to be hit, I was out with a handful of cents (eight of them!) which was more than enough to cover the commissions and ensure no loss.
The second entry came on the very next bar, and this time we were off to the races. The price rocketed upwards, only pausing as it approached 144. Regular readers know I’m a sucker for getting out at nice round numbers, so it was worth hanging on a bit to see if we could hit it.
Taking two and a half grand in under fifteen minutes more than made up for the shoddy first trade. The fact it was all done by 10:30 and on a core stock meant that I got the nice easy morning I was hoping for.