Monkman's PV Journal
- Thread starter Monkman
- Start date
so with my current limits I have decided to structure my positions as follows:
3 positions max
$5k roughly into each position
Today, the system triggered a couple b/o's. I decided to take one of those.
NFLX 113 @ 44.24
Time: around 9:39am (cst)
MACD: positive
Slow Stoh: 90+
Price : increasing
3 positions max
$5k roughly into each position
Today, the system triggered a couple b/o's. I decided to take one of those.
NFLX 113 @ 44.24
Time: around 9:39am (cst)
MACD: positive
Slow Stoh: 90+
Price : increasing
Several stocks broke out from the hot list. I entered:
IPI 261@19.15 short
Sold most at 19.36, and some below that.
ALGT 100@47.99
CNQR 227@21.97
sold 21.52
NFLX day 2
NFLX
did not have much of a follow through after breaking out. The idea situation for next day after a break out is when price and volume increases over previous day. With this position we had an intraday 52 week high, low volume all day, and then a turn around in price. The good thing is the volume reads .58 on my screen which means its below FRV. This could indicate a flaw caused by low volume. Normally I would sell if the stock went red for the day, but I decided to give this stock one more day because its still in its upward channel, and around 30 cents from my stop. My profit target for all my positions is relative but I like to take around the 2%, 5%, and 10% range when I see weakness or lack of continuation. I entered in three other stocks today.
IPI
First I shorted IPI. My timing was way off. This discouraged me since the stock went against me for awhile, and stoh were turning upwards. At this point I felt taking half the loss I intended to take was a good decision. After reviewing the trade, I found I need to be more patient. Did I make the right or wrong decision I am not sure, but you can make mistakes and still profit which hopefully will progress with time.
CNQR
Also entered CNQR, that was a failed breakout. Volume was good but we did not see price follow through which was key. It also hit my stop.
ALGT
This is a pretty thin stock. I might need to adjust my stock filter to avoid these. Stock went into FRV and ended the day .79. There was increasing price, volume, stoh 80+, macd positive. Continued to hold up strong and hit new highs while the ES was weak.
I am now holding:
NFLX 44.24 Day 2
ALGT 47.99 Day 1
IPI 261@19.15 short
Sold most at 19.36, and some below that.
ALGT 100@47.99
CNQR 227@21.97
sold 21.52
NFLX day 2
NFLX
did not have much of a follow through after breaking out. The idea situation for next day after a break out is when price and volume increases over previous day. With this position we had an intraday 52 week high, low volume all day, and then a turn around in price. The good thing is the volume reads .58 on my screen which means its below FRV. This could indicate a flaw caused by low volume. Normally I would sell if the stock went red for the day, but I decided to give this stock one more day because its still in its upward channel, and around 30 cents from my stop. My profit target for all my positions is relative but I like to take around the 2%, 5%, and 10% range when I see weakness or lack of continuation. I entered in three other stocks today.
IPI
First I shorted IPI. My timing was way off. This discouraged me since the stock went against me for awhile, and stoh were turning upwards. At this point I felt taking half the loss I intended to take was a good decision. After reviewing the trade, I found I need to be more patient. Did I make the right or wrong decision I am not sure, but you can make mistakes and still profit which hopefully will progress with time.
CNQR
Also entered CNQR, that was a failed breakout. Volume was good but we did not see price follow through which was key. It also hit my stop.
ALGT
This is a pretty thin stock. I might need to adjust my stock filter to avoid these. Stock went into FRV and ended the day .79. There was increasing price, volume, stoh 80+, macd positive. Continued to hold up strong and hit new highs while the ES was weak.
I am now holding:
NFLX 44.24 Day 2
ALGT 47.99 Day 1
