A couple of quick ones. First off, the bottom of a long move down. SNE dropped off a cliff right from the open. It can be tempting when you see a precipitous fall like this to jump in for the ride. That is almost always a bad idea though. We follow strategies for a reason. Jumping in and holding on tight is gambling. With no plan for the trade, you have no idea where to get out. So although we could look at this chart and say, “Heck, we missed a hell of a drop,” the correct reaction is to say, “Followed the strategy and walked away with almost three hundred bucks in ten minutes with negligeable risk.” That’s how we keep from blowing up our account, so we can be around for all the other lovely trades that come along.
Lovely trades like this from MU, which is currently on my core list because it keeps making nice, easy, predictable moves like this:
This was a slower trade, taking about half an hour, but as the tortoise knows only too well, slow and steady wins the race.