This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
I closed out my long trade in ZRAN for a 0.5R loss to apply my capital to more candidates today. Turned out to be the right move:
I entered TRN short, only to get stopped out on the other side of the NR7:
I also entered CHB short, and I bailed on my own as price stalled out in negative territory:
I entered CF short also, but it’s currently underwater from my entry:
If it doesn’t open lower, then I’ll most likely cut it like I did ZRAN to free up the capital.
On the plus side, I’m still holding AGP short from 5/7 @ $26.78, and I’m about 1.6R in the black. My target was $24, which would get me 5R. My tactics aren’t very polished, so any suggestions on how to enter and manage the NR7 trades is appreciated!
This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com