EXPR - Chart Link - I discussed this as a
basing pattern on Monday, it was previous an idea in early Aug that
tried and failed to breakout out of the base, however I stated that
I thought it had a better chance to go this second time, and so far
so good
Walt - where did you enter it? it's closed over the 5 EMA
for 5 days now in a row (counting today), at minimum for trades you
are gonna hold over a day you gotta give it more room than the 5
EMA, generally I place my stop nicely below the 9 EMA at first then
trail it up. Seems like you placed it way way too tight
A stop at the 9EMA would be a 4.2% loss, which is a bit more
than the max moves in a day, which, yes, would have been more
appropriate. Below 9EMA would be 5%, kind of
large. I was thinking more risk / reward ratio of 1:3,
willing to risk 2% for potential gain (target) of 6%.
Side question: Why (regular/simple) Moving Averages on 20, 50,
200, and Exponential Moving Averages on 9 and 5? Why EMA not
SMA?
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EXPR follow up
Posted by matt on 17th of Aug 2016 at 11:22 am
EXPR - Chart Link - I discussed this as a basing pattern on Monday, it was previous an idea in early Aug that tried and failed to breakout out of the base, however I stated that I thought it had a better chance to go this second time, and so far so good
EXPR - I got stopped out with 28 cent stop loss
Posted by Walt on 17th of Aug 2016 at 11:26 am
That seemed quite lenient at almost 2%. This keeps happening to me.
Walt - where did you
Posted by matt on 17th of Aug 2016 at 11:30 am
Walt - where did you enter it? it's closed over the 5 EMA for 5 days now in a row (counting today), at minimum for trades you are gonna hold over a day you gotta give it more room than the 5 EMA, generally I place my stop nicely below the 9 EMA at first then trail it up. Seems like you placed it way way too tight
EXPR - appropriate stops discussion / example
Posted by Walt on 17th of Aug 2016 at 12:17 pm
A stop at the 9EMA would be a 4.2% loss, which is a bit more than the max moves in a day, which, yes, would have been more appropriate. Below 9EMA would be 5%, kind of large. I was thinking more risk / reward ratio of 1:3, willing to risk 2% for potential gain (target) of 6%.
Side question: Why (regular/simple) Moving Averages on 20, 50, 200, and Exponential Moving Averages on 9 and 5? Why EMA not SMA?