This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com

Here’s a quick rundown of what I traded today. I didn’t choose anything from my watchlist last night because none of it really moved :p Oh well, bad idea. On to my trades:

First one was a Muddy 10/60 in CytRx Corporation (NASDAQ: CYTR). Here’s the chart–yellow is my entry, red my stop levels.

My entry was late, but I managed it okay. At least it was a win, though not a big one. I increased my risk from 1% to 1.5% of my equity, so my max R value is now about $15, though I busted that with this trade, as you can see below. Adjustments are tough sometimes.

Trade Summary:
CYTR Long 136 Shares
Entry: $5.17, Stop: $4.99, Target: $6.00
R: $24.47, Exit: $5.31
P/L: 0.75R, or $18.37

The other trade was Texas Roadhouse, Inc. (NASDAQ: TXRH). This was a failed Trader-X attempt. I took it because of the NR4, but I also didn’t follow X’s rules to the letter in that none of the candles closed above the OR high, and I ended up taking a sub-par setup. Stopped out for -1R within about 5 minutes.

Trade Summary:
TXRH Long 100 Shares
Entry: $15.86, Stop: $15.76, Target: $16.52
R: $10.00, Exit: $15.76
P/L: -1.00R, or ($10.00)

So, net positive on the day of $8.37, or roughly 0.8%–beats the market today, anyway!

Stocks Mentioned In This Article
Stock	Links
CYTR	| |
TXRH	| |

This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com