Search results

I stopped looking at each individual trade as a success or failure and looked at the overall portfolio value. As long as it is increasing I'm doing okay. I started considering a trade as a successor faiure not be whether I made or lost money, but by whether I followed my plan. If I follow my...

Stopped out this morning

I wonder about your process for chosing stocks to trade. PSA looked like a good stock when it broke out on the 28th. Why wait until it moved up to buy? Are you chasing? Your R/R is 1.33, if you had bought the breakout it would be over 2

Thanks but no thanks.

Is it legal to use Robinhood and protrader in the same sentence? :)

The only reason a trader has stress is because they don't know what to do in certain situations. If you know what you will do when any situation presents itself, then there is no stress, you just trade.

What do you expect the stock to do?

You didn't answe why you would wait for a pull back.

Just under todays low.

I'm not. I don't want to hold a position that moves against me. I don't take profits quite as quickly. I set initial targets but watch as price moves to those targets. I may only take part of the position off at the target then add back on as price increases. I'll trail a stop to avoid taking a...

Why? I would not be afraid to buy PANW if it broke todays high. No overhead resistance. Today it sold of then demand came back in. If it continues to increase in price what will cause it to reverse?

Really that's all it is. I call it speculating. You build a position. The difference between position trading and long term investing is risk management. A long term investor buys a position and holds it through the ups and downs. A position trader buys a position and holds it as long as the...

Believe me it will help. When you review your trades a month from now you won't be wondering why the hell was I thinking.

Where is your column with your thoughts? :sneaky:

I'll throw out a trade I might take tomorrow. Don't mean to hi-jack your journal. R Ryder Systems is in an uptrend. (Higher lows) It recently made a new higher high and has retraced for 3 days. Today it stopped going down and closed near its high. Tomorrow if it trades above todays high I'll...

Using 312 as an initial target gives you a r/r of 2/1

In the 312 range. Twice in Dec price got to that point and reversed.

LOL We certainly look at charts differently. (grin)

Have you given any thought as to why you picked those targets? Why not react to how price performs? (trend line break or a ma cross)

By flexibility on the way down I mean taking a smaller loss than you had planned on. Just like you are willing to take a smaller profit. Again it's about having a process. When I enter a position I have certain expectations. If the stock doesn't behave as I expect I'll get out.