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Thanks Monster, all good thoughts. I’ve actually read 3 books, not the ones you recommended, but How to Make Money in Stocks, William O’Neill, Think and Trade Like a Champion , Mark Minervini m and Technical Analysis Using Multiple Time Frames, bu Brian Shannon. All excellent. Read O’Neills book...

Stopped out at 70.88

Thank you. Great analysis, I’ll read it more than once… and keep the position on a short leash.

Hope this is ok, I find it a good way to learn…. bought BLDR @75.07, stop at 70.90. Upside target 86. Stock in an uptrend, seems to have formed a tight base. 20 day EMA above the 50 day above the 200 day. comments?

Ok, yeah I thought so, this is a good way to learn. Opportunity knocked to get out at no loss, sold at $74.00 lesson learned (I think) with a profit (a minuscule profit but a profit). on my watch list for a pullback

Thanks smallfil. So the stock is GFS, and I decided to post the chart in the Stocks section with questions. The “where’s your stop question is what made me think I made a mistake (see my post and charts here… https://www.elitetrader.com/et/threads/gfs-global-foundries.365898/

Sorry forgot to include. Bought the stock at 73.87

Anybody want to analyze this chart? I bought what I’d consider a half position, looking to buy more on pullback. But I think I made a mistake. I should’ve been patient and waited for it to consolidate at around $67-$68. I think I chased it. Am I correct? what would you do with this chart? Is...

Ok makes sense. Thanks

OK, but more to my example, lets say it goes to $20, consolidated at $18.50, then broke out, i buy it at $19.50 or 20. I'm buying at all time high, there is zero overhead resistance

T yeah k know son the trailing stops but for your question on targets you want to know what your R/R is, no?

How do you come up with a target for a stock that’s only been trading for say 6 months, and is at all time highs, and looks like a good setup? No overhead resistance at all.

well put. But in effect, they are faking out their clients LOL. But yeah, you explained it better than i did

I try not to trade before 10-10:15am. First half hour of trading is a lot of fakeouts

Thats a pretty broad assumption. I think it might be true of some really really noob traders, kids who are looking to make a quick buck. Less true for serious guys just starting out on the journey who are educating themselves with an open mind. (LIKE ME :-}

neither did I. Constructive

TY I never ever beat myself up for taking a profit. :-}. As my thoughts evolve, i am starting to think that while its very important to go into a trade knowing your risk as well as your risk/reward ratio, its also equally important to maintain flexibility when its called for

I bought PXD and EQT, both in my paper trading account, and 2 weeks ago in my regular account, which is not really process trading yet

Think market has had its run. I had bought 2 tranches of SPY, total 122 shares, at 426 average, didnt mean it to be a trade, meant it to be the begining of getting back to invested VERY SLOWLY in my long term portfolio, which is now only 35% equity. But seems to me market is toppy in the...

Closed out my last half position at 261.01 I had a target of 275. But i think flexibility is important in sell decisions. Stock ran to 269 at the open, couldnt hold it, and seems like its running into resistance around 260-262, tomorrow is investor day, thats why the stock has run up, could be...