This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
CMG:
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
5 Responses
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May 2nd, 2007 at 2:00 pm
Great trade, Zoomie! What made you stick it out when it retraced back through the 119% around 1PM? I would have bailed. My expectancy shows it, since my wins are about the same size as my losses (~1R), so my win rate makes or breaks me. I’m working on this, though…
May 2nd, 2007 at 2:35 pm
Prospectus, I usually set a target and sell when it hits the target or at the end of the day. I rarely get a full R1 loss, as I tighten my stops aggressively to break-even, but no further, unless there is a very, very obvious pivot. Each stock behaves differently. This one was a bit erratic so I didn’t raise my stop above break-even, and I expected them to try and shake me out. Bastards.
May 2nd, 2007 at 3:15 pm
nice trade!
May 2nd, 2007 at 5:03 pm
Hey Zoomie,
Nice work, you took much more out of CMG than I did.
May 2nd, 2007 at 7:41 pm
Thanks guys. I didn’t wait for my target to sell, but a nice start for the month.