Today was another wild day for $GLUU and we saw a pretty large mid-day dip that pulled us all the way down to $6.67 a share. This of course pulled the trigger on my trailing stop with my 1st position's 8% stop and killed the trade @ $7.00.
I'm a little bummed because the stock recovered as it likely would and now my position for the ER is a little over half the size. But I can't get too mad since the stop did it's job and locked in profits of 15.70% gains!!!
It'll be fun to tally up the wins and losses from the last couple of trades and see where my account is sitting. I liquidated the other stocks I had in the IRA and will be trading with a full capital. This will allow me to trade with $300 to $400 positions and have enough to cover an 8% trailing stop from the get go... no freeride waiting time. Also, when factoring the commission per trade I'll only need 4% to 5% gains to break even vs trading with $100 to $200 positions were a near 20% gain is needed to cover commissions. With swing trades, a 4% to 5% gain is a lot easier to see and 6%+ gains over the course of 3 to 10 days is likely.
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