Thursday, February 08, 2007

MasterCard Incorporated

Dear Trading Journal,

It felt remarkably good to know that I can daytrade US Equities.

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I daytraded MasterCard Incorporated (NYSE:MA) today. First two was pullback setup - volume came in to push it above the previous bar to confirm buy signal. I exited the second trade without hesitation because I saw the momentum dying out on the tape. In the third trade, where i bought @113.79. That was not a valid setup, as I did not buy above the high of the previous bar. I redeemed myself by waiting patiently for the fourth trade. Buy volume came in off the natural number @114. I bought @114.05, target was 114.50.

I could have squeezed way more profits by daytrading the options for MasterCard Incorporated (NYSE: MA). However, I didn't have the option symbol that I wanted pre-selected and all ready to go on my watchlist. Fortune favours the prepared, will remember that for next time.


Bubs said...

Great trades on MA. Basically took similar trades but screwed up my exits a little and didn't get as much as I should have out of it.

Phileo said...

Hi Bubs,

Thanks. Congrats on your MA trade as well. I watching the ticker on MA a little, but focused on the chart more and the volume on MA as well, so I wasn't worried about the overall markets tanking.