If Only They Were All This Easy…

sspencerGeneral CommentsLeave a Comment

I managed to pick up some MGM at 11.22 yesterday. I was risking about five cents on 1200 shares. I considered my initial upside to be around 11.80. But ultimately I was looking for a breakout above 12 with upside to 13.80-14.

When I came in this morning MGM was trading slightly higher than 11.50. My trading plan was to add more size above 11.80 and 12. My out on my initial position was still below 11.20.

Then MGM did a funny thing. It actually trended up perfectly from 10:00AM until the close. I have my original shares from yesterday and some more that I picked up along the way. This one position more than made up for the nightmare that trading POT presented today.

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