just went long IBM.. anyone hate that trade?

It's an ok entry if you trade retracements, which come with smaller reward / risk ratios. I'd suggest to close this trade (now for a small profit), and wait for IBM to bounce down from just above / around $79.5, then trade with the trend (that now for swing trading seems to be pointed downwards).
 
FWIW, the 80 line calendar trade has been profitable the past 6 months or so. I will continue to sell nearby 80's until price action shows otherwise.
 
Quote from jrlvnv:

Went long at 77.70 on a stop and got filled at 77.58... Talk about price impovement... Stop is 76.70 and looking for 79.70. First trade with IB... Anyone hate the trade? Comments???
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JRL;
Like the price improvement:cool: & the stop;
would probably even stop it @76.50 area, swing trade.

And while Dow theory/DIA is in your favor;
SPY QQQQ ,IBM are below 50dma. , below 200dma, oops.

Hope it doesnt gap below stop;
with downtrending market 79.55 or so ,would be fine profit also :cool:
 
Quote from nitro:

IBM's price will double in the next 3 years.

nitro


Quote from Ninja:



Why do you feel so confident about this?
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>> Probably most confident that in 3 years no one will remember the call. If it comes to pass you will be reminded.

Old carnival trick.
 
Thanks for all you views on this trade. I did close out the postition for a very small gain. I forgot the most important rule. Trade with the trend.

Was my first day with IB and was trigger happy. Glad it wasn't a expensive lesson. Hopefully I'll have a better trade to post next week. Enjoy the weekend everyone
 
Gooood boy! :)
Quote from jrlvnv:

Thanks for all you views on this trade. I did close out the postition for a very small gain. I forgot the most important rule. Trade with the trend.

Was my first day with IB and was trigger happy. Glad it wasn't a expensive lesson. Hopefully I'll have a better trade to post next week. Enjoy the weekend everyone
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stock formed head and shoulders earlier this year and finally breaking down below neckline. buying stock was not a good trade. glad u got out with profit. lucky.
 
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