Monday, December 3, 2007

Daytrade SOLF Long

What did I see? An orderly retracement with narrow range bars on decreasing volume.

Entry on the break of 6th bar high with a 17.25 limit order at 11:08am. Initial stop below 6th bar low at 17.02. After the PnL exceeded +1R, I entered a 0.50 trailing stop. Stopped out at 19.34 at 12:19pm.

Risk (R) = 0.23, 1000 shares, $250
PnL = +8.29R, $2073.70