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Tuesday, January 03, 2006

Have a target

I have a minute and wanted to make a quick post. As you know, I ALWAYS have a profit target. There was a great set-up in SFCC this morning, and if you had a target like me (the Fibonacci extension of the previous day's low to the opening range high), you made ~5% in the first 45 minutes of trading.

If you didn't have a target, then you have probably panicked and closed the position or given most of your profit back! Who knows where it goes from here, but I like booking that profit on the first trading day of 2006!

Charts later tonight.

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