I was chatting with a student over the weekend and I was asked what I typically do once a trade is over. While most traders like to soak in the glory of beating the market and booking a money making trade, there are a few more steps that I take to insure that the trade is also a learning event. This is a brief outline of my post trade review.
Posted on July 7th, 2008 at 1:37 PM
Apple (AAPL) Update
Posted on July 7th, 2008 at 03:03 PM
Since I last posted we've had two tests of the 2X1 Gann Level that would act as initial profit targets for the aggressive trader. On 7/2 we had a break of the trend line (175.00) which would trigger the trade and a hit of our first Gann target of 177.40 for initial profits. At this point if you are a very aggressive trader you would move your stop to your initial entry and be stopped out with profits on 7/3.
Our second entry occurred today at the cross of our trend line at 172.00, our Gann Level was hit at 176.75 and would be our first profit target where you can take up to 1/3 of your position out. The stop would be moved to the entry and a sell limit order placed at our next Gann Level at 184.70.
