yeah TBT following the market, whatever the market does, I think
TBT will tag along.
as far as stop, that's your personal choice. Steve posted
yesterday that he wanted to see TBT break the downtrend line on
that 60 min chart, but then pullback and hold the trendline; well
this morning TBT broke that trendline but came right back below it
on the pullback today, so I'm sure he stopped out. Now
you personally may choose to give it more room.
Tomorrow is historically bullish for the market, if the market
rallies, then TBT probably will bounce as well, though realize we
have big Jobs report tomorrow so it's a crap shoot
At least you have a stop in place, too many traders don't use
stops and come back to us after they are down 30%, so you are
trading objectively
frtaylor - depends on your trade objectives and risk tolerance.
I sold 1/2 mine on yesterday's spike and stopped out of balance
today as I'm short term until I see a CLEAN 3 bar break and
backtest on the Daily.
at least you are using stops, so you are trading with
discipline.
Steve and I unfortunately have had too many messages over the
years from guys who bought a stock never put a stop in place, then
come back to us wondering what to do after it's down 30%, that's
why stops are important, and you have one in place at
least.
You can always buy it back if you are stopped out and it looks
like it has set up again.
TBT trade question for Steve or Matt
Posted by frtaylor on 1st of Sep 2011 at 01:43 pm
Broke this morning but has pulled back hard. I have a stop below the right shoulder lows. Is that too tight?
yeah TBT following the market,
Posted by matt on 1st of Sep 2011 at 01:46 pm
yeah TBT following the market, whatever the market does, I think TBT will tag along.
as far as stop, that's your personal choice. Steve posted yesterday that he wanted to see TBT break the downtrend line on that 60 min chart, but then pullback and hold the trendline; well this morning TBT broke that trendline but came right back below it on the pullback today, so I'm sure he stopped out. Now you personally may choose to give it more room.
Tomorrow is historically bullish for the market, if the market rallies, then TBT probably will bounce as well, though realize we have big Jobs report tomorrow so it's a crap shoot
At least you have a stop in place, too many traders don't use stops and come back to us after they are down 30%, so you are trading objectively
frtaylor - depends on your
Posted by steve on 1st of Sep 2011 at 01:45 pm
frtaylor - depends on your trade objectives and risk tolerance. I sold 1/2 mine on yesterday's spike and stopped out of balance today as I'm short term until I see a CLEAN 3 bar break and backtest on the Daily.
Thanks for the reply. TBT
Posted by frtaylor on 1st of Sep 2011 at 01:49 pm
Thanks for the reply. TBT has been tough to trade.
at least you are using
Posted by matt on 1st of Sep 2011 at 01:50 pm
at least you are using stops, so you are trading with discipline.
Steve and I unfortunately have had too many messages over the years from guys who bought a stock never put a stop in place, then come back to us wondering what to do after it's down 30%, that's why stops are important, and you have one in place at least.
You can always buy it back if you are stopped out and it looks like it has set up again.
and... stopped out.
Posted by frtaylor on 1st of Sep 2011 at 03:59 pm
and... stopped out.