February 17th 2007
Day Trade - Long ALTR: Post Trade Analysis
I featured the ALTR day trade on Friday the 16th because of the 60 minute triangle the stock formed on February 15th.
I lost a few cents on this one. My plan for ALTR was to put the trade on at 21.16 and see where it would go. It looks like ALTR got to a high of 21.28 before reversing. If you drill down to a 5 minute chart, you can see that ALTR didn't find support at it's 50 period moving average. I was expecting it to bounce, but it trickled down through my entry and I bailed a few cents later. In retrospect, I should have bailed at the 11:05 bar instead of around 12:30. Using my methodology, I like to see a strong breakout consolidate sideways, not reverse and consolidate. The trade was just mismanaged. Chalk this one up to bending my rules
I lost a few cents on this one. My plan for ALTR was to put the trade on at 21.16 and see where it would go. It looks like ALTR got to a high of 21.28 before reversing. If you drill down to a 5 minute chart, you can see that ALTR didn't find support at it's 50 period moving average. I was expecting it to bounce, but it trickled down through my entry and I bailed a few cents later. In retrospect, I should have bailed at the 11:05 bar instead of around 12:30. Using my methodology, I like to see a strong breakout consolidate sideways, not reverse and consolidate. The trade was just mismanaged. Chalk this one up to bending my rules
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