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Had some computer problems this morning. Both hardware and software;
Didn’t get to the market until it had been open for ½ hour. The result was that some of my trades got away form me.
Opened 3 positions:
SHWS: buy at 41.19
Stop @ 40.37 Initial Target 44.00
Capital at risk =0.42%
MAR: buy at 58.31
Stop @ 57.70 Initial Target =59.75
Capital at risk = 0.42%
HON: buy @ 91.35
Stop @ 90.75 Initial Target = 94
Capital at risk = 0.42%
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
tightening up the stop on SWKS;
Couple reasons for this;
Didn't get my planned entry price so the risk reward wasn't optimal.
Didn't like the price action this afternoon.
stop now below todays low.
It's not unusual for me to dump a trade that ends the day below my entry.
In the case of SWKS it did close above where I planned to enter originally plus I wasn't around for the close so I'll make a decision in the morning.
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
I received a PM asking why I choose the stock I buy and how I determine my exits.
For the most part I am looking for stocks in an uptrend that have pulled back and then started back up. I scan for stocks that meet that criteria.
I look for a risk/reward of at least 1 to 2.5.
Risk = Difference between entry and stop
Reward = Difference between the entry and the target.
Stop = just below the prior days low or the last swing low or possibly a swing low on the hourly chart.
Target = the last swing high or a resistance on the hourly chart that is below the last swing high or above the last swing high if the uptrend is strong.
The last 3 buys ;
DDD: I consider DDD to be in an uptrend. The last 3 swing lows were higher lows. On the 27th it broke above the down trend line. Then had a pull back on news. There was no follow through so when it traded above the prior days high I bought with a stop below the last swing low and the target above the last swing high but below former resistance at 60.80
PPC: A pull back on an up trending stock. Entry is above the prior days high; stop below the last swing low and target in the area of the last swing high.
QCOR: Same story. A pull back on an up trending stock.
The bid ask spread was all over the place during the open. The ask was above my entry price then dropped so I picked some up a little cheaper than my planned entry. Stop is a little wider than normal and target a little higher than the last swing high becase of the wide swings in price.
If anyone has any question please feel free to ask.
"The days when I keep my gratitude higher than my expectations, I have really good days" RW Hubbard
