Here are a couple of nice simple trades. A stress-free way to end the week.
First up was QCOM. This is a stock that has been on and dropped off my core list multiple times over the years. As soon as any news comes along on this one, it’s automatically on my watch list for the day.
This is about as textbook as they come. The setup was pretty much perfect, and that bounce off the nice blue line only added to the confidence in the trade.
I probably held onto this a bit too long and could have got out with more than a dollar a share had I jumped ship earlier. Still, $920 is better than a poke in the eye with a blunt stick, and it did only take about fifteen minutes to get there.
The other one I wanted to post from Friday was NKTR:
This was interesting because it was another textbook setup, and right at the low end of the price scale this time. You could make this trade with a $6k account, taking more than $600 profit in about ten minutes. I’m going to attempt public math here, so bear with me if I get this wrong, but I think that would be a 10% return on the account balance…in ten minutes. I don’t believe those sorts of calculations have any meaning, but I know some people love that stuff. The point is, as I have been banging on all week, stocks are accessible for day trading at virtually any account size. The range of prices and the possibility to dynamically scale position sizes means pretty much any budget is sufficient to at least get started.