This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I shorted JOYG today. I didn’t trade it properly, and was stopped for a 0.5 R loss. Thanks to Jamie, here is how it should have been played.
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
February 28th, 2007 at 6:56 pm
It’s great to have good traders like Jamie that post their trades and analysis to help us see how we could better play the same stock!
Another tough day today…
February 28th, 2007 at 7:35 pm
Yes it is, he is da man!
February 28th, 2007 at 8:30 pm
Thanks guys!. The JOYG trade was not the usual dummy type setup and I only gave it a 50% chance of success going into the trade. However, I did want to post it for future reference. I should have also noted that I didn’t move my initial stop until price fell out of the narrow channel on a closing basis. Hopefully we’ll get some better setups tomorrow.
March 1st, 2007 at 7:45 am
Jamie, thanks for the run down on your trade. I am looking for channels/flags more often these days. I just need to play my initial stops differently and not as tight.