Originally Posted by Shag:
This one's been trending down all day - did you have a buy limit hit early? If not, curious why you took a position (trying to learn).
Buy stop market at that price. It went up to 19.24 this morning so it was triggered. [Reply]
Originally Posted by neech:
I was just wondering when I should sell mine, thoughts? I got in when you did.
This is all very subjective and you really have to figure out how risky you'd like to be with trading.
I lean to the more conservative side. Many traders are much more aggressive than I am. I prefer a lot of little-medium successes while others prefer being less accurate and trade for the home run.
Market conditions also precipitate how aggressive you should be. When things are whip-sawing, I am much tighter with stops. When things are going well, my initial stop loss may stay for days at a time.
With ENTG I was more conservative because it's previous best close was 122.05. So I tightened stop losses near this area in case it met resistance again. This did lead me to getting stopped out completely, which is fine as I locked in a 5% win. Had this stock been still retracing a previous high, I may not have been as tight with my stop. If you want to be aggressive with this trade you could sell 25% now and keep your original stop loss. If you'd like to be more conservative you could sell 25% now and set stop to right below intraday low of 6-28 at 118.49 (This scenario means it will be a green trade for sure).
My strategy for most trades is to sell 25% of the position when I hit a 5% gain. I then scale out another 50% of the position near 8-10% and absolutely raise my stop loss at this time. If my trading hasn't been going as well as I'd like, when I hit a 5% gain I also raise my stop to break even so that even if I get stopped out, I keep that trade green. If you prefer a stock to run but want to stay green, just keep raising your stop to the previous day's low. [Reply]
Originally Posted by lewdog:
This is all very subjective and you really have to figure out how risky you'd like to be with trading.
I lean to the more conservative side. Many traders are much more aggressive than I am. I prefer a lot of little-medium successes while others prefer being less accurate and trade for the home run.
Market conditions also precipitate how aggressive you should be. When things are whip-sawing, I am much tighter with stops. When things are going well, my initial stop loss may stay for days at a time.
With ENTG I was more conservative because it's previous best close was 122.05. So I tightened stop losses near this area in case it met resistance again. This did lead me to getting stopped out completely, which is fine as I locked in a 5% win. Had this stock been still retracing a previous high, I may not have been as tight with my stop. If you want to be aggressive with this trade you could sell 25% now and keep your original stop loss. If you'd like to be more conservative you could sell 25% now and set stop to right below intraday low of 6-28 at 118.49 (This scenario means it will be a green trade for sure).
My strategy for most trades is to sell 25% of the position when I hit a 5% gain. I then scale out another 50% of the position near 8-10% and absolutely raise my stop loss at this time. If my trading hasn't been going as well as I'd like, when I hit a 5% gain I also raise my stop to break even so that even if I get stopped out, I keep that trade green. If you prefer a stock to run but want to stay green, just keep raising your stop to the previous day's low.
Damn, Thats grinding. I enjoy swinging for the fences for the most part. But I'm consolidating right now to take a break. Maybe! [Reply]
Originally Posted by Hog's Gone Fishin:
Damn, Thats grinding. I enjoy swinging for the fences for the most part. But I'm consolidating right now to take a break. Maybe!
That's the tradeoff for using capital risk management strategies. Everyone swings for the fences until a market correction (even a 10% one) happens and they see their account go down 25%+ as they are loaded with growth stocks (They always come back until they don't!). I don't do all this work to give my capital back! Some of these people with huge gains will see them evaporate someday if they don't have a plan.
Even with all these "small gains," my total account value in June has gone up nearly 20%. [Reply]
This came across on my pullback screener. Interesting and I drew a line on possible entry at 23.43, looks to be about 4.3% risk using stop right below intraday low of today. Has potential to retrace back to upper 20's (was just there 27.92 spike) with prior highs at 35. Recent cross of the 20 through the 50. Only negative is volume on recent large selloff day.
My brother and I have been looking into Life sciences companies like psychedelics and new molecular therapeutic treatments.
Yahoo posted an investor forum that I'm going to go through all the companies that presented. I think there's a tremendous opportunity for a new growth sector that is going to explode in the coming decade.
One I like already is Field Trip. They have applied to be moved up onto the Nasdaq, and have a former Senate Majority Leader who is on their board as well as being a public ambassador (like on CNBC), which I would imagine has some favorable advantages in terms of policy & the regulatory process to some degree.
I've already picked up a little over 1000 given the price. It's been making positive gains already and I think it's going to jump when it gets bumped up to the Nasdaq.
$FTRPF
Either way, I plan on adding more from this new field to my portfolio and scouting them early to get a decent amount at low cost. [Reply]
