While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
I'm using 39.58 for the average buy in. This is the # I will use to mark this position.
Plain and simple this was a trade off a technical level.
I simply bought this after it held the confluence of the 50 & 200 day mvg averages.
The risk is today's low. I'm looking to make 5% on the trade.
The other compelling technical match was the Gold Futures @ 1300.
This seemed to be a less risky trade.
We have a stop and a target.
OCO...order.( One Cancels the other) We have 2 sell orders:
1st is a Sell stop @ 38.70
2nd is a straight sell @ 41.80
Combined; this is an OCO order.
Which ever side gets filled first, the other order automatically cancels.
January, 2014 MediumTerm Outlook-1st-qtr-2014/
For Glossary of terms and abbreviations click here.
