Due to other commitments I missed the open and first hours of trading. By the time I got behind my computer I had missed all the fun. Momentum in the market made it clear there was not a lot of downside, while it still was too early to go long. I did scan for longs but was not prepared to enter unless the market gave a clear reversal pattern.

The nice thing about Quotetracker is the possibility to set trendline alerts. I have found no other software that can do that except freestockcharts, but while freestockcharts is great, the alerts are not great of my kind of intraday trading.

After scanning many, many charts I had set several trendline alerts on charts I thought might prove interesting but only a few triggered. Most of them I skipped for one reason or the other. I thought I was not going to put in even one trade.

The first time WSM triggered I still was waiting for the market to give a signal, though downside momentum was clearly slowing. Just at 14:00 a 5 min double bottom triggered in the SPY and WSM gave another alert as it cleared the previous swing high. I liked the 5 min Cup and Handle WSM was forming so I quickly clicked the order.

The market stayed choppy, but WSM performed great. Around 14:30 it showed a reaction, after that I updated my stop to just below the sma 20/5 at that point. I was aiming for an equal move target but just short of that target price stalled. I cheated on my stop and tightened it to just below the consolidation. I was not going to risk all the paper profit for a few extra cents. Half an hour later it it target and I sold all.

I was frustrated becuase I missed out on all the fun, but by just sticking to the routine of focussing and scanning, setting alerts and observing the market, I managed to get a great result despite that, even if only with a single trade.

• Entry: 21.16; SL: 21; exit: 21.60
• RW/R: 2,75 R