Thursday Morning Trading Wells Fargo & Co

One of this mornings call out in the Java Pit was Wells Fargo & Co (WFC) short.

Anatomy of the trade.

1. Stock below 5 min 200MA (so I looked to short)
2. Waited with a stop limit short order at 58.19/58.18 (.20 3rd strongest price level)
3. Trade opened and posted my BTC order at 58.02 (.00 strongest price level)
4. Profitable trade

 

 

 

2ND GO AT WFC

Perfect entry - Great targets.

Profitable trade

 

 

 

Now a look at NOT following the RULES

Feb 14

trade

 

Advanced Micro Devices, Inc.(AMD) I had a standing order to short at .19 never hit.

So I started to trade between levels and covered for losses twice.

 

Had I waited for AMD to come up to the .50 level as taught, and shorted at .48/.49 I would have entered correctly and hit my profit targets below.