XRT Closed

I closed down the XRT trade yesterday. The reason I closed it down was because it (along with the markets in general) aren't really moving anywhere - they are basically going sideways.

Since it's going sideways and not going in my intended direction, it seems to me like it's just kinda floundering around. I'd rather use that money in a better set up than a stock just floundering.

Check out the XRT chart to see what I mean - I got in on the green day and out on the red day.

I made $1 on the trade, but the trade commissions (what my broker charges me) cost me $3 - so I lost $2 - as in 200 pennies on this trade. I could've made it break exactly even or took in a tiny profit as compared to a tiny loss (by spending some time to watch it fluctuate and then get out), but I'm not overly concerned about a couple of dollars - literally.

I also got out because the markets seem to be floundering as well. Like I said, I'd rather take that money off the table and wait for a better entry. Here's a snapshot of the markets:

I'm still in IWM - I figure that this is my only trade and I have plenty of money left for new trades, and this has NOT given me any real reason to get out, so I'm staying in it.

From here, it's a wait and see - I'm a cherry picker, I wait for the best set ups and then I get in. By doing this I put the "odds" more in my favor - I'd rather have the best of the best, as compared to trading just to be trading. Besides, you make much much better profit being a cherry picker.