Trading Dummies
- Thread starter Babak
- Start date
BBY gapped down but only 10% not large enough for me to be on snap back rally mode. Also the general mood of the market was down (sentiment bullish and a recent runup in the indices but with oil acting like its topping for now). Just some reasons why I'd be looking to short rather than go long.
BBY was a beauty if you just practiced a bit of patience and allowed it to do its thing. It got into a clear and somewhat tight downtrend which then ended very orderly allowing you plenty of time to get out. Wish they were all this neat and tidy.
Appx. a +6R
BBY was a beauty if you just practiced a bit of patience and allowed it to do its thing. It got into a clear and somewhat tight downtrend which then ended very orderly allowing you plenty of time to get out. Wish they were all this neat and tidy.
Appx. a +6R
I didn't catch RIMM in time but it was clearly struggling against the tide, trying to go up.
There were a few instances of it dropping sharply and to be honest I think it would have shaken any trader with the discipline of not allowing profits to become losses. I would say a scratch unless you took some very quick profits.
A second entry (at around 12) would have got you in again but I shy away from those. It either works from the onset or it doesn't. I don't know if anyone else takes these secondary signals. If you do, maybe you can tell us how and if it has worked out for you.
There were a few instances of it dropping sharply and to be honest I think it would have shaken any trader with the discipline of not allowing profits to become losses. I would say a scratch unless you took some very quick profits.
A second entry (at around 12) would have got you in again but I shy away from those. It either works from the onset or it doesn't. I don't know if anyone else takes these secondary signals. If you do, maybe you can tell us how and if it has worked out for you.