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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yes i put in a buy stop before open
FRC
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