Just like yesterday, I took one dumb trade (ZQK short) and one good trade (SGMS long). However, the overall result was a wash as I only got a partial fill on SGMS, and I took a partial loss on ZQK. But at least I did not suffer an overall loss today.

ZQK was a stupid trade purely because the first bar had a long tail, but more importantly, the second bar (which I entered off) was a spinning top showing indecision. I should have waited on the next bar, which was a hammer, and that would have kept me out of the trade. In fact, the 10:00am hammer and the 10:15am up bar lifting off the OR low showed strength, meaning I could have gone long with a target of the fib retracement zone which it just hit two bars later.


SGMS was a slightly risky trade too given the 9:45am and 10:00am spinning tops. However, since they were narrow in range and just below the OR high, I took an entry above the 10:15am spinning top. The target was 33.20 and that was just touched at 12:45pm, but I had already bailed earlier below the 11:45am down bar.


So, overall I was disappointed with my trade management, once again. I should have held SGMS to its profit target, at least realizing a small overall profit, and I should have passed on ZQK.

Overall, I did not see any really decent setups. Volume seemed low, with the market trending up across the board, with nothing decent standing out. No paper trades today.

I have taken the spare time today to refine my scans once more. I currently have two scans running every 5 minutes, one for longs, one for shorts. They are based off the “Change from Close (%)” primary filter in CyberQuant. I have now dialed down the “Volume Over Yesterdays (%)” and “Volume Over 20 Avg Vol (%)” down to zero, but I have left them in place so I can easily bump them up if I want to. I have replaced my “Current Price” greater than / less than “Prior Days High/Low”, with the current day’s high/low. This should show me all stocks that are beyond the prior day’s trading range.

If any other CyberTraders want to take a look at my scans, I will be more than happy to pass them on. You certainly could do no worse than me with them !