This weekend I posted an excerpt from one of my weekend prep spreadsheets showing some of the current positions as well as stocks that I was interesting in stalking this week.
Several of you noticed that I had OPEN (Open Table) listed twice and asked questions on that. As I have stated previously, I do run several different accounts based on time-frame and so this falls within that strategy.
I am mashing the Gap pedal here, getting heavy with my short exposure on OPEN in a way that allows me to adhere to my position size rules in each account.
Since I monitor open trades with a 5 minute chart, I had elected yesterday to play R at the 38.2% Fibonacci line on the bounce – short as a daytrade. I exited that daytrade position but the other account positions remained.
If ever confused or just wondering, feel free to ask as I will answer any question.
Trade ’em well.