Agree, I’ve done that. I’ve had situations (in the short time I’ve been trading, paper or otherwise), where it just became apparent to me that the stock wasn’t doing what I expected or hoped and I’ve gotten out before a stop was hit. So in that regard, yes I’ve got flexibility on both sides.
KGTrader4 Paper Trading Journal - My Training Wheels
- Thread starter KGTrader4
- Start date
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)
Yes, it’s where I see resistance in the charts.
LOL We certainly look at charts differently. (grin)
In the 312 range. Twice in Dec price got to that point and reversed.
Ok, we are seeing the same thing. See my yellow circle on the right, in the chart I posted. it’s around 312, I said 300, that was mistake.
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 open a position.
Entry 81.55-60; Stop 79.90; Initial target 85.5
I'll put in a stop order tonight.
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 open a position.
Entry 81.55-60; Stop 79.90; Initial target 85.5
I'll put in a stop order tonight.