Spydertrader's Jack Hershey Equities Trading Journal III
- Thread starter Spydertrader
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Morning everyone!
Got stopped out of GRRF $280 pizza money. Out with GROW $46.
Bought
RATE $43.90, PCCC $18.52 and ATHR $27.34 (an old HE stock). So far these ain't looking too pretty.
Gotta go to work now!
Have a great day!
Got stopped out of GRRF $280 pizza money. Out with GROW $46.
Bought
RATE $43.90, PCCC $18.52 and ATHR $27.34 (an old HE stock). So far these ain't looking too pretty.
Gotta go to work now!
Have a great day!
I noticed WTW last night. I decided not to bother with it. Although it does look to have formed an FTT recently, decreasing black volume has created nothing more than lateral movement. Even if we did see some price improvement on decreasing black volume (retrace) we have a long way to go before we get to a break out of the downtrend channel. Too far for me.
- Spydertrader
I also got stopped out of RATE. When I use to trade IBD, new high breakouts, I would utilize a maximum 7% stop loss. And I got stopped out a lot.
I am starting to think that buying Hershey stocks that are close to new fresh highs, breaking out of bases, is more risky then buying earlier in a base pattern, even if it is off the right side of a channel, given our maximum 2% stop loss rule (which I utilize). It takes a lot of volume to break into new highs at times, and it seems to get very volatile right at that point. It has happened enough times to me that I have started thinking about limiting my shares by 1/2 when getting in to those trades.
Rate today was a perfect example.
I am starting to think that buying Hershey stocks that are close to new fresh highs, breaking out of bases, is more risky then buying earlier in a base pattern, even if it is off the right side of a channel, given our maximum 2% stop loss rule (which I utilize). It takes a lot of volume to break into new highs at times, and it seems to get very volatile right at that point. It has happened enough times to me that I have started thinking about limiting my shares by 1/2 when getting in to those trades.
Rate today was a perfect example.
RATE previous day close: $38.78
RATE Open today: $42.50
Gap: 9.5%
In Journal I, we discussed the large gap open stocks and how to avoid these big losses when a 'gap and fill' takes place. Hopefully, today's lesson with RATE reinforced this rule created in Journal I.
Good Trading to you all.
- Spydertrader
RATE Open today: $42.50
Gap: 9.5%
In Journal I, we discussed the large gap open stocks and how to avoid these big losses when a 'gap and fill' takes place. Hopefully, today's lesson with RATE reinforced this rule created in Journal I.
Good Trading to you all.
- Spydertrader
- Status