I broke my rules and paid for it

SoCalSteve

Junior member
13 3
Just posting this to hold myself accountable and for input from others if you'd like.

One of my more successful setups swing trading stocks is to buy the first bounce off the 50dma after a stock has had a nice advance of 30% or more - when it bounces on heavy volume - a sign of institutional support.

I liked the chart on TASR basing on quiet volume in early Feb and picked some up.

But I didn't wait for strong volume confirmation nor did it quite get close enough to the 50 day line.

Earnings came out Thursday and the market reacted negatively and I was stopped out for a 10% loss.

That's the price I paid for not being patient.
sc
 

tomorton

Legendary member
8,396 1,338
Ouch!

Education costs money. But if you only make the same mistake once, you should do better next time.
 
 
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