Friday, October 3, 2008

How I Traded Today

What a wacky market this is. We get the decision that everybody wants and has been anxiously waiting for and thing go down the toilet fast. I made two trades today. Fortunately I managed my trades adequately even though I had dubious reasons for taking them.

I bought FDX on a channel breakout after the opening gap. I really didn't have a high probability setup, but I thought that FDX would mimic the general market and head up more. It was up 2R until the announcement was made and then it fell like just about every other stock in the market. I protected some of the gains and made off with 1.2R for the day.

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