Another point that I should probably send out to the readers of this thread is that, if you don't ask questions, your questions will remain un-answered.
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Dislikednice breakout on ip
also check the pullback after the breakout on M5. good place for an entry.Ignored
DislikedHello Split, could you indicate on the chart your entry and exit levels please? Seems to have been a good trading.
Thanks.
Greg.Ignored
DislikedHi Gregofx,
I was in pretty early in PSX, my initial entry was at 33.53 on 14/6/2012 and then proceeded to add another position as the stock broke-out at 35.00 on the 16th of July.
You can forget about the first entry and focus on the second entry on the 16th of July. It was solely based on technical analysis. My stop on the trade was right below the strong buy day on the 13th of July at $33.25.
So if you calculate that on 100 share of the stock that would equal to:
$35.00 - $33.25 = $1.75 (stop loss and risk)
$1.75 * 100 shares = $175...Ignored
DislikedThanks for your answer!!
I see, if your entry was at $35 with a SL at $33,25, then your Risk is $1,75 that is 5% of the position. This is your standard risk %?
I'm also interested on your swing trade from 14/6/2012. Would you please explain the analysis of the trade, if you don't matter?
Greg.Ignored
DislikedI think you misunderstood my SL, I don't have a standard $ amount SL for all positions, my stop loss is built around key reference points from my charts. I then use that level (33.25 in the trade above) to size my position so that I don't lose more than an X percent on my capital. To me, the amount I am comfortable to lose on any one trade is 0.5% of my capital.
So for example if I had a $100,000 account and wanted to engineer this trade I would have entered with 300 shares.
300*1.75=525
525/100000= 0.00525= 0.525% (of my portfolio)...Ignored
DislikedHello nice thread , could you reccomend me some good new sites that you use ?Ignored
DislikedIt depends on what your interested in. I read alot of stuff, some may be irrelevant to you. The financial world is diverse, if you don't be specific you become prone to information overload. I need to understand your level to give you the best sites to help you out.Ignored
DislikedThis one is another open trade I have. I entered this trade on 25 of June at the close of the Daily Candle at $7,49 with SL at $6,50. Now I am holding it hoping it will break the $9,00 level. If price close below $8,50 I will be out.
Again, I would like to know your opinion on this one.
Greg.Ignored
DislikedNice trade Greg! Not one that I would personally trade, however, you should have a nice profit on your hands. The stock has obviously showed relative strength compared to the S&P 500 and the XLI (Industrial ETF). Your current SL at 8.50 is good, this stock should head higher if it continues to hold above 8.50.
My only concern with this stock is that it is illiquid, spikes and super volatile days seem to be the norm, you could easily be taken out on such an occasion. There's one thing that I NEED to emphasize on my thread and that is that NOT ALL...Ignored
DislikedHi Split, I entered this trade on 13 of July at the close of the Daily Candle at $4,21 with SL at $3,50. Now I am holding it till I have a sell signal, hoping it will reach $4,80 where I will take profits. Please, I want to know your opinion on this one.
Thanks.
GregIgnored
DislikedThank you very much for your reply. I totally agree, the selection is very important, and it is that I'm failing. I'm sure I'll learn a lot from you!!!Ignored