$GMR: 1.16% profit today, but my expectations were higher than that, given so much pumping from everybody, including CNBC yesterday.
We had a nice pullback and I was waiting for a good entry point before 10am. And we had one. After the 1st 3-min bar that closed higher then opened, I initiated a position. Volume was good enough for automatic 3% trailing stop loss and I decided to go with it. Price run to 1.79 and then another pullback to 1.74. 3% stop loss kicks in and we end up with modest 2 cents profit per share in 31 minutes of morning trading. About 80% of my trades are like this, and since I am receiving questions from readers of my blog when exactly I enter and when exactly I exit, I am explaining it with more details. Also you could see a snapshot from my Ameritrade Strategy Desk window. You could see my exact entry (immediately after the 1st 3-min bar closed green), then intraday high at 1.79 and why 1.74 is my selling price (about ~3% from top). Again, it represents 80% of my trades dynamics. The rest 20% is when volatility is high due to very high or very little volume. Then my exits may look different. As for entries, they are generally close to this 3-min green closure bar rule.
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