Wednesday, December 9, 2009

Looking Back at Today's Play Now that the Day is Done

Had you played the Range as I described in the previous post it would have turned out to be the perfect play on the day.

Assuming you went long at the upper part of the range-bottom ($109.30) and Short at the lower-part of the range-top ($110), you would have made three round trip trades for .70c profit/share per trade.


SPY 5 Minute Chart Showing Trade Range

Trade Size:
100 shares = $210 profit for the day
1000 shares = $2100 profit for the day

That is a solid trading day.
I can't say that I listened to my own advice though as I got caught day trading multiple times within the range and ended up negative for the day...

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