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Tuesday, March 19, 2013

James River Coal Company Day trade chart

I will be out and about today so I set a trade on James River Coal Company (JRCC.) Limit entry at $2.23 in front of the prior demand zone. Profit target will be above at $2.48 in front of the prior supply zone. This is a 25 minute chart.

UPDATE 15:10 EST. Trade opened at $2.22 on standing limit order placed at 05:30 this morning. My limit price was bettered by .01. That's a nice change.

UPDATE 3/20: Trade closed on stop. As the old song goes "that's what stops are for."




Sounds silly, but I am no longer going to use RED to indicate a trading loss. I will just say "trade closed on stop." I think it is a better way to trade by reassuring yourself that taking losses on stops is a good thing.


Charts are courtesy of TradeStation.



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