I sold my NOK position today to lock in profit. Although I tried to daytrade afterward to see if I could capture the upward momentum if it continued. I was stopped out and the daily chart was reflecting a doji which I was not excited to see.
Below is the daily NOK chart:
Potentially, today doji bar could become an island reversal pattern or an evening star reversal pattern. I, for one, am not going to wait around to see if that is the case. Thus, I’ve no problem locking in my profit and see where the wind blows tomorrow.
I also bought SSYS in the morning but decided to lock in profit due to a strong upward thrust all day. Both DDD & SSYS are in the 2nd strong up bar and I do not want to sit through a correction tomorrow. The thing about DDD & SSYS is that their volatility is legendary. The speed of a reversal (up or down) is very FAST. Hence, I’ve no problem again to lock in profit and see where the wind blows tomorrow as well.
Below is the 5 min. SSYS chart:
So far, a positive trading day today!
I’m now holding AMRN, LRAD, SZYM, GLOG, USU, EMAN, ES & 39% cash.
Yes, albeit my drawdown on AMRN, LRAD, & USU (all position play), I’m always striving to gain profit by swing-trading.
You can always see my trading activities here @followtheprice
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