AFG - broke out, however again as I've
discussed before, this one has been on the trade idea list since
last week now, it was near the 20 day MA last week when we posted
it, which was pretty low risk are to buy it with a tight stop
vs waiting for it to rally $1.5 higher before buying it today - the
20 MA was 35.5 last week vs the 37 breakout today. Again,
when you can, look to buy the long ideas near support levels inside
the stock patterns (if you see a logical support area and if it
looks good on an intra day chart such as a 15 or 60 min chart) that
way you are entering the trade with a better risk/reward.
Many of our stock ideas have been really good patterns and so
they end up breaking out eventually anyway, so the odd are
generally in your favor, and when you can enter near support you
can have ultra tight 1% - 2% stops losses vs 5% - 7% stop
losses
As you may have noticed, this fall I started pointing out a lot
more of our trade ideas out when they were at support vs ONLY at
the breakpoint. I plan to focus on that more this next year
and point out when our trade ideas are at support so that you can
think about entering early if you wish
AFG broke out and comments
Posted by matt on 23rd of Dec 2011 at 11:10 am
AFG - broke out, however again as I've discussed before, this one has been on the trade idea list since last week now, it was near the 20 day MA last week when we posted it, which was pretty low risk are to buy it with a tight stop vs waiting for it to rally $1.5 higher before buying it today - the 20 MA was 35.5 last week vs the 37 breakout today. Again, when you can, look to buy the long ideas near support levels inside the stock patterns (if you see a logical support area and if it looks good on an intra day chart such as a 15 or 60 min chart) that way you are entering the trade with a better risk/reward. Many of our stock ideas have been really good patterns and so they end up breaking out eventually anyway, so the odd are generally in your favor, and when you can enter near support you can have ultra tight 1% - 2% stops losses vs 5% - 7% stop losses
As you may have noticed, this fall I started pointing out a lot more of our trade ideas out when they were at support vs ONLY at the breakpoint. I plan to focus on that more this next year and point out when our trade ideas are at support so that you can think about entering early if you wish
Matt, much appreciated when you
Posted by frtaylor on 23rd of Dec 2011 at 11:52 am
Matt, much appreciated when you have pointed out trades that are at support! Thanks.
that wold be great
Posted by 8899 on 23rd of Dec 2011 at 11:48 am
i for one would really appreciate that...thanks matt