amit1986
Experienced member
- Messages
- 1,100
- Likes
- 66
+10 cents per share ECL reversal....played that on the 5-minute chart. After the steep fall, note how each candle had a higher high and a higher low...plus, the buying pressure on time and sales which was most likely a bunch of short covering.
amit1986
Experienced member
- Messages
- 1,100
- Likes
- 66
As a trader, it's really difficult to give your trades wiggle room, especially after such a choppy morning and small profits. It's a decision between keeping your stops tight or allowing for bigger gains. That's exactly what happened on DY - I should have given it some wiggle room but got out on the first sign of strength. Turns out it was a pre-mature exit and then it took a nosedive down.
amit1986
Experienced member
- Messages
- 1,100
- Likes
- 66
Going to call it a day. Summary:
DWA: +11 cents per share
RPM: +6 cents per share
LEN: -3 cents per share
ECL: +20 cents per share
DY: +2 cents per share
Hopefully the eurozone can quickly come up with a solution to Greece's financial woes. It seems like till then, the choppiness in the market will continue.
Good trading to all!
DWA: +11 cents per share
RPM: +6 cents per share
LEN: -3 cents per share
ECL: +20 cents per share
DY: +2 cents per share
Hopefully the eurozone can quickly come up with a solution to Greece's financial woes. It seems like till then, the choppiness in the market will continue.
Good trading to all!
I had a similar experience this afternoon with YPF. When price tested support I waited until I saw momo on L1/L2/T&S. Entry at 26.42 on crosshairs in attached image. My stop on this volatile stock was the ATR14 against, and when the stock whipsawed upwards I exited for a 10c loss.
Obviously my exit resulted in the price action then ticking downwards in what would have been a gain of just above 50c.
On reviewing this trade I would enter at the same point if I had my time again, however in higher ATR stocks with a wider spread my stop would be 1.5 times ATR (position sized accordingly) this giving me adequate wiggle room based on the recent price action.
Fascinating this trading business
Aaron
Attachments
amit1986
Experienced member
- Messages
- 1,100
- Likes
- 66
I had a similar experience this afternoon with YPF. When price tested support I waited until I saw momo on L1/L2/T&S. Entry at 26.42 on crosshairs in attached image. My stop on this volatile stock was the ATR14 against, and when the stock whipsawed upwards I exited for a 10c loss.
Obviously my exit resulted in the price action then ticking downwards in what would have been a gain of just above 50c.
On reviewing this trade I would enter at the same point if I had my time again, however in higher ATR stocks with a wider spread my stop would be 1.5 times ATR (position sized accordingly) this giving me adequate wiggle room based on the recent price action.
Fascinating this trading business
Aaron
Personally, I don't use the ATR(14) as a stop. Either I get out when level2/t&s turns against me or if I get stopped out by the opposite end of the previous candle. The ATR is there to give me a quick indication as to the volatility of the stock and if I should trade it.
