Wizetrade Journal

In this case, we 'knew' that it would go down - it has been on news, and we have seen other news stocks act just like this. Wizetrade can help, because if it was going up like crazy, we would get out... My other paper trades I haven't been down too far. If I see a short trade appearing(you know the criteria ;) then I would get out asap.


SCAN**
Sorry I didn't reply to that ;) Anyways, it uses Wizefinder. It is an extra hundred a month, but I presume it goes towards the live, all day in the market radio broadcasts(only available to WF subscribers). You can see it at the site( www . wizetrade . com )
 
Quote from mrbunnyrabbit:

In this case, we 'knew' that it would go down - it has been on news, and we have seen other news stocks act just like this. Wizetrade can help, because if it was going up like crazy, we would get out... My other paper trades I haven't been down too far. If I see a short trade appearing(you know the criteria ;) then I would get out asap.
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Stocks don't always do what you 'knew' they were going to do, so that's not really an answer to me. So if it did go 'up like crazy' and you were to exit, my twofold question was... at what point would you exit, and would it be wt telling you to exit?

If you're holding 1000 shares short and it rallied, you'd be down a few hundred right quick staring at a possibly bigger loss looming on the horizon... or not Under those circumstances, what's the exact plan, if any? And how does wt help you manage the trade, if it does?
 
Quote from gms:

Stocks don't always do what you 'knew' they were going to do, so that's not really an answer to me. So if it did go 'up like crazy' and you were to exit, my twofold question was... at what point would you exit, and would it be wt telling you to exit?

If you're holding 1000 shares short and it rallied, you'd be down a few hundred right quick staring at a possibly bigger loss looming on the horizon... or not Under those circumstances, what's the exact plan, if any? And how does wt help you manage the trade, if it does?
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Since these were my first two real trades and neither of these happened, I'm not too too sure. But... I would most likely get out of it asap if it to rally short or crash long. It does depend on the charts - if it were going down/up, what they say is if the 180 minute light turns around - otherwise, it is probable all the minute lights to the left will follow with the flow. So... I'd wait for that to happen with the 180(in my case, a 130)
 
Quote from mrbunnyrabbit:

Since these were my first two real trades and neither of these happened, I'm not too too sure. But... I would most likely get out of it asap if it to rally short or crash long. It does depend on the charts - if it were going down/up, what they say is if the 180 minute light turns around - otherwise, it is probable all the minute lights to the left will follow with the flow. So... I'd wait for that to happen with the 180(in my case, a 130)
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Hmm, I think the answer should be along the lines of exiting with the strategy that you developed prior to entering the trade. With every trade you should develop a profit/loss target, and then use it. For many that is the hardest piece. That is the change that I usually recommend when I work with folks. Know your exits, then take them. :)
 
Folks, let's stay on topic which is mrbunnyrabbit and wizetrade. If you have questions for Don please PM or email or call him, or ask it on another pertinent thread. Thanks.
 
Sorry I haven't posted in awhile ^_^ What I've done:

PBR LONG 33.51, out at 34.07 (1000)
INTV LONG 16.81 out at 16.88 - Ignored support and resistance
IPXL LONG 22.37 out at 22.48
Just today - JBHT LONG 28.89

Still... all papertrades, maybe some real ones in a week or two :)
 
Can you post your losing trades too?

Michael B.



Quote from mrbunnyrabbit:

Sorry I haven't posted in awhile ^_^ What I've done:

PBR LONG 33.51, out at 34.07 (1000)
INTV LONG 16.81 out at 16.88 - Ignored support and resistance
IPXL LONG 22.37 out at 22.48
Just today - JBHT LONG 28.89

Still... all papertrades, maybe some real ones in a week or two :)
More...
 
Ahh... Guess I am forgetful :eek: (no... I totally forgot about it. Maybe I hoped I would never see it again) Anyways, I did lose money on the PBR - I went into a short position.... I ended up over 2.50 down.
 
Ehh... Of course there is only winners. Just like all the testimonials :) They got a lot of problems advertising... and false advertising :eek: I haven't done too many trades because with their/my criteria, it is difficult to find a stock.... but usually, the stocks are nice... *usually*
 
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