bravestar-
regarding FRC, I hope you got in at a good price, FRC went very
fast this morning was hard to enter at the price unless you had a
buy stop in. As Steve stated the 5 EMA was the first target
and that was hit, the 9 EMA is the second target.
keep an eye on the 60 min, watch to see if can form a lower high
or inverse H&S pattenr
Posted by bravestar on 24th of Jul 2014 at 11:15 am
and i got back in after it retraced and am in profit. i had
moved my stop up tho and got stopped as it retraced. 47.13 and
48.04 waiting for those targets now.
the one thing nice about these type of trades is that they are
mechanical, they give you the entry price, stop and targets, which
in my experience is what many people struggle with. I've seen
so many people never put in a stop on a position and then write
Steve and I about how they are down 40% on a position as they let
it go against them and just held it, or on the flip side, folks who
had nice profits and gave them all back by not taking some
profits.
so that's what's nice about these setups, they instill the
discipline that is lacking by many new traders
Yes thanks for the detailed instructions on this trade. I was
able to buy stop at $46.25 got filled at $46.19 and my stop was
45.50. This worked out nice for a new trader like myself. I have
raised my stop to 46.20 break even. What target should I sell
at?
Thanks
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out FRC
FRC
Posted by bravestar on 24th of Jul 2014 at 10:37 am
i am not good at Trade mgmt but i am right to get out i think, tho i was supposed to wait til it got to the 9 ema as target. hard for me to wait.
bravestar- regarding FRC, I hope you
Posted by matt on 24th of Jul 2014 at 11:07 am
bravestar- regarding FRC, I hope you got in at a good price, FRC went very fast this morning was hard to enter at the price unless you had a buy stop in. As Steve stated the 5 EMA was the first target and that was hit, the 9 EMA is the second target.
keep an eye on the 60 min, watch to see if can form a lower high or inverse H&S pattenr
bravestar..the 5 ema on the
Posted by steve on 24th of Jul 2014 at 10:42 am
bravestar..the 5 ema on the daily would be first target area.
yes i put in a buy stop before open
Posted by bravestar on 24th of Jul 2014 at 11:15 am
and i got back in after it retraced and am in profit. i had moved my stop up tho and got stopped as it retraced. 47.13 and 48.04 waiting for those targets now.
the one thing nice about
Posted by matt on 24th of Jul 2014 at 11:22 am
the one thing nice about these type of trades is that they are mechanical, they give you the entry price, stop and targets, which in my experience is what many people struggle with. I've seen so many people never put in a stop on a position and then write Steve and I about how they are down 40% on a position as they let it go against them and just held it, or on the flip side, folks who had nice profits and gave them all back by not taking some profits.
so that's what's nice about these setups, they instill the discipline that is lacking by many new traders
FRC
Posted by arumba on 24th of Jul 2014 at 12:11 pm
Yes thanks for the detailed instructions on this trade. I was able to buy stop at $46.25 got filled at $46.19 and my stop was 45.50. This worked out nice for a new trader like myself. I have raised my stop to 46.20 break even. What target should I sell at?
Thanks