my question too -- for instance -- what was the rationale for
buying GROW this morning? It was 4% above breakpoint when it
opened. I'm definitely not questioning playing breakouts --
it obviously is working for many people here -- I'm really
asking, because it eludes me.
GROW opened up at 8.10 which was not above breakpoint and
continued to run. It was a nice bull flag pattern coming off
a 3rd wave high and thus supported another run to the upside.
You need to examine the night before and be prepared - if you
like the setup then set a BUY STOP but make sure you have an exit
strategy in place commensurate with your trading objectives should
the trade turn against you.
breakout - first you should set alerts on ALL your setups below
the breakpoint. I tend to focus on the tightest patterns with good
volume patterns. Once alerted, I also like to see if the
volume percentage is decent.
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Trouble catching trades
Posted by breakout123 on 21st of Oct 2010 at 10:31 am
Does anyone have suggestions how to catch the trades?
Do you put in buy orders ahead of time?
I used a buy stop
Posted by jambo1 on 21st of Oct 2010 at 10:40 am
I used a buy stop on UAL this AM and got me in ok.
I set alerts but by
Posted by breakout123 on 21st of Oct 2010 at 10:52 am
I set alerts but by the time I examine the stock it has made a huge move and is considerably past the break point.
my question too -- for
Posted by Michael on 21st of Oct 2010 at 11:04 am
my question too -- for instance -- what was the rationale for buying GROW this morning? It was 4% above breakpoint when it opened. I'm definitely not questioning playing breakouts -- it obviously is working for many people here -- I'm really asking, because it eludes me.
Michael: GROW opened up at 8.10
Posted by steve on 21st of Oct 2010 at 11:06 am
Michael:
GROW opened up at 8.10 which was not above breakpoint and continued to run. It was a nice bull flag pattern coming off a 3rd wave high and thus supported another run to the upside.
GROW
Posted by Michael on 21st of Oct 2010 at 11:09 am
my mistake in looking at the chart.....on the trade ideas list it gives the breakpoint as 6.93
just missed the 50% fib
Posted by hazbin1 on 21st of Oct 2010 at 11:54 am
just missed the 50% fib ~8.65 on pullback on GROW
Michael - that was the
Posted by steve on 21st of Oct 2010 at 11:14 am
Michael - that was the intial breakpoint that we played and then it formed a bull flag offering another buying opportunity.
Follow up Comment
Posted by steve on 21st of Oct 2010 at 10:53 am
You need to examine the night before and be prepared - if you like the setup then set a BUY STOP but make sure you have an exit strategy in place commensurate with your trading objectives should the trade turn against you.
Comment
Posted by steve on 21st of Oct 2010 at 10:35 am
breakout - first you should set alerts on ALL your setups below the breakpoint. I tend to focus on the tightest patterns with good volume patterns. Once alerted, I also like to see if the volume percentage is decent.