Still Trading POT

It has been a while since I posted. The past 2 weeks I went to 2 weddings. The last one had me traveling on a groom-side party bus from Houston, TX to Richmond, VA. During this trip I had my trusty Sprint Broadband card and laptop. I managed 2 round trades this past week for a gain of $1200 trading POT. Both were long positions. I felt I had called the short a little too soon. Luckily I got out before it fell.

I said that POT would fall back to the $165-170 level and that I’d go long under $165. My timing was a little off. I didn’t enter any short positions as I didn’t feel I had strong confirmation. I did make a couple of daytrades however. I’m making an adjustment now as I think we’ll be hovering around the $165-175 range for a few weeks. As such I’m going to be entering long positions on any dips close to the 50 day moving average of $170 and sell at $175. It is important to analyze, wait for confirmation, and make adjustments when necessary.

Tomorrow’s trade: Get long at $170′ish, exit at $175′ish for an intraday trade.