"The only way to trade with Fibonaccis" journal

Quote from tihfa:

whats so special about 129?
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Nothing really, but fibonacci users might see that a lot of fib lines overlap around that point, and since they believe in the power of seashells for trading, it should be a good place to buy. Remember, some people think price is magically drawn to fibonacci lines. If those people are right, price should go to around 129 and then reverse and go back up.

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Of course, I cannot predict price so I have no idea where it's going or where it's going to reverse, but this will also just be a good place to buy more for my current strategy.

And I don't want anyone saying that I don't call my entries ahead of time!
 
The next ex-dividend date for SPY is 6/15. I'll probably still have my position then. I saw someone estimate that the dividend will be $0.75 per share. I have no idea how they estimate that but that would be a nice dividend.
 
Quote from 1a2b3cppp:

6/4:

SPY: -$3,552
11 days until ex-dividend date

Net for this trade:
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-$3,552
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where is your next entry point and share size? or where is the next exit point and size? if exiting with a loss are you scaling out or is it an all out exit?

tihfa
 
Quote from tihfa:

where is your next entry point and share size? or where is the next exit point and size? if exiting with a loss are you scaling out or is it an all out exit?

tihfa
More...

I'm not quite sure yet, since I've already changed up my entry and position sizing a bit on this trade. The next buy will definitely be no lower than 120. Right now I am looking at 120 but I may buy a bit higher than that. Position size will be at least 800 shares.
 
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