at least you had stops in place. Too many new traders
don't use stops at all and they fail, so at least you are using
stops. However while it sucks that you took a loss on this,
just use it as a lesson, I'm sure you will now always check your
stocks to see when they have earnings coming out.
when trading, even if I am slightly down on the stock, I always
sell the day before earnings. I've been burned too many times
holding into earnings. Yes you can get lucky once in a while with a
stock gapping way up, like AAPL or the big techs do at times, and I
had that happen to me a few times, however more often than not, I
had bad luck holding into earnings, therefore now I never do it
I had bought it a month earlier as a trade shown by Dan
Fitzpatrick. Good point lachasse - same store sales is what
hit it, not earnings. Position was not big.
yep, we posted it a week ago, my hope is that it would break out
before earnings and provide a trade before earnings hit, which
didn't happen of course
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MCD had disappointing earnings. I
Big futures pop, but no big breakout?
Posted by frtaylor on 8th of Mar 2012 at 09:32 am
MCD had disappointing earnings. I got stopped out (was in from 99.35).
at least you had stops
Posted by matt on 8th of Mar 2012 at 09:40 am
at least you had stops in place. Too many new traders don't use stops at all and they fail, so at least you are using stops. However while it sucks that you took a loss on this, just use it as a lesson, I'm sure you will now always check your stocks to see when they have earnings coming out.
when trading, even if I am slightly down on the stock, I always sell the day before earnings. I've been burned too many times holding into earnings. Yes you can get lucky once in a while with a stock gapping way up, like AAPL or the big techs do at times, and I had that happen to me a few times, however more often than not, I had bad luck holding into earnings, therefore now I never do it
I had bought it a
Posted by frtaylor on 8th of Mar 2012 at 09:43 am
I had bought it a month earlier as a trade shown by Dan Fitzpatrick. Good point lachasse - same store sales is what hit it, not earnings. Position was not big.
yep, we posted it a
Posted by matt on 8th of Mar 2012 at 09:51 am
yep, we posted it a week ago, my hope is that it would break out before earnings and provide a trade before earnings hit, which didn't happen of course