April 24, 2007 - Tried to Buy the Dip

I tried to buy the dip today, but my bids were too high, and my stops were too tight, and I was stopped out on 3/5 of my position.

My bids were: 1486, 1485.50, 1485.25, 1485, 1484.75

I had 5 pt bracket orders. The low was 1480.25 which meant of course I sold the low there.

My idea was correct, but I did not give it enough breathing room. In retrospect, 1480 was the level to protect on the chart.

If I am unsure about the levels, I should spread them out a little more liberally.

Lesson: PAY ATTENTION TO LEVELS

NAV: $1,007,429