Grabbed this casino this morning about 20 minutes after the open 100 shares at $7.40. Sold at the intra-day high at $7.50.
Monday, August 3, 2009
MGM
Nothing big today did a few quick T3 inspired day trades today with positive results. Here's one example: Kept hearing chatter from the traders about MGM and saw the setup with the 50 SMA acting as support and $7.50 as resistance.
Grabbed this casino this morning about 20 minutes after the open 100 shares at $7.40. Sold at the intra-day high at $7.50.
Grabbed this casino this morning about 20 minutes after the open 100 shares at $7.40. Sold at the intra-day high at $7.50.
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Nice! But I have to ask what are your commissions was this enough to cover commissions? Also did you end up subscribing to T3's service?
ReplyDelete$1 for the buy and $1 for the sell = $2. So $8 gain but I've had a few of these today so you can begin to see the potential with larger positions... moving out of the paper testing into small real live testing.
ReplyDeleteBut initially I had a 3-1 reward/risk ratio with a $7.7 & $7.3 exit which I would have been rewarded for had I stayed a little longer in the position... inching up to $7.7 now. Need to re-evaluate my discipline there after the close today.
ReplyDeleteSorry I didn't answer the 2nd question Dominic. No I did not subscribe to T3... It won't be worth the subscription unless I commit to day trading full time with a sizeable portfolio with sizeable consistent trading profits. Otherwise I'll keep signing up for the free trial. Doesn't SMB have something similar or may have access in the future to their traders?
ReplyDeleteYes SMB has very similar tools available for their traders. I was just wondering because you said you heard the t3 traders talking about it and I thought your subscription was up. But it makes sense that you signed up for another free trial.
ReplyDelete