About a week ago I bought JMEI at $6.29(liked the long flagging
pattern). Put in a stop of $6.19 so as to risk no more than
$0.10/share.
Raised the stop twice last week, first to $6.30, then with the
stock at $6.49 just before Friday's close, I moved it to $6.38 to
"guaranty" a small profit in a worst case scenario.
JMEI opens today at $6.25, I get filled for a small loss at
$6.22, stock dips to touch 50 day moving average at $6.18, then
rockets ahead and is now at $6.53 and climbing.
Part of trading, I suppose. Frustrating nonetheless.
Just needed to vent. Don't think I did much wrong.
One thing you could adapt for gaps: an opening range rule where
you take off your stop pre-market and then wait to see if there's
downside follow-through on a 5m or 15m range. There wasn't on JMEI
today - it shook people out on the open and didn't look back. Heck,
it never went below the 1m low. Hope that's helpful.
Sometimes you make all the right moves and can still lose $$$
Posted by RichieD on 4th of Apr 2016 at 11:04 am
About a week ago I bought JMEI at $6.29(liked the long flagging pattern). Put in a stop of $6.19 so as to risk no more than $0.10/share.
Raised the stop twice last week, first to $6.30, then with the stock at $6.49 just before Friday's close, I moved it to $6.38 to "guaranty" a small profit in a worst case scenario.
JMEI opens today at $6.25, I get filled for a small loss at $6.22, stock dips to touch 50 day moving average at $6.18, then rockets ahead and is now at $6.53 and climbing.
Part of trading, I suppose. Frustrating nonetheless. Just needed to vent. Don't think I did much wrong.
One thing you could adapt
Posted by a_l_ on 4th of Apr 2016 at 11:48 am
One thing you could adapt for gaps: an opening range rule where you take off your stop pre-market and then wait to see if there's downside follow-through on a 5m or 15m range. There wasn't on JMEI today - it shook people out on the open and didn't look back. Heck, it never went below the 1m low. Hope that's helpful.
Interesting thought...and helpful. Thanks.
Posted by RichieD on 4th of Apr 2016 at 01:51 pm