Hello
tommcadam- welcome and nice to see you. First off regarding
the trade ideas I don't trade all of them and I don't expect anyone
too - we throw them out there because we never know which one/ones
will go.
as far as DTIL I traded it last week, I know that I mentioned it
as an example of one I was looking to buy inside the pattern on a
60 min time frame near those MA supports I pointed out. I
sold it last Thur, it wasn't acting like I thought it
should.
Plus I had too many open positions: I personally find that when
I have too many open trades I don't manage them well as I can't
keep track of them, so I will just just selling a bounch of them if
they are not really pushing in order to cut my number of positions
ways way. that's just me, everyone's different. I
generally suggest new trades only try and trade 1 - 2 things at one
time until they get a rhythm going and develop their risk
management etc.
what I didn't like on DTIL was the move up off those MA's it
took, I can't really explain it, it's just one of those things
after seeing a million plus charts over your lifetime you get a
sixth sense for things. Otherwise the the chart is fine, in
fact it's basically just back to where where was. If I was
still long DTIL I'd probably give it at least to Friday's lows for
a stop at this point as it's at a place where it should bounce if
it's going to.
regarding DTIL - if you are still in again price rallied
from Friday as I said it was the price for it to try and rally
again, a stop could go there at this point
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Matt: I'm new to your site
GDX and DUST follow up
Posted by tommcadam on 25th of May 2020 at 03:11 pm
Matt:
I'm new to your site as of today.
Did you stop-out of DTIL on Friday? If no, at what price is your current stop out?
DUST is well below its MA 50 & 200. Are you long DUST?
Please update me on your current opinions on both.
Thanks!
Tom
Hello tommcadam- welcome and nice
Posted by matt on 26th of May 2020 at 09:24 am
Hello tommcadam- welcome and nice to see you. First off regarding the trade ideas I don't trade all of them and I don't expect anyone too - we throw them out there because we never know which one/ones will go.
as far as DTIL I traded it last week, I know that I mentioned it as an example of one I was looking to buy inside the pattern on a 60 min time frame near those MA supports I pointed out. I sold it last Thur, it wasn't acting like I thought it should.
Plus I had too many open positions: I personally find that when I have too many open trades I don't manage them well as I can't keep track of them, so I will just just selling a bounch of them if they are not really pushing in order to cut my number of positions ways way. that's just me, everyone's different. I generally suggest new trades only try and trade 1 - 2 things at one time until they get a rhythm going and develop their risk management etc.
what I didn't like on DTIL was the move up off those MA's it took, I can't really explain it, it's just one of those things after seeing a million plus charts over your lifetime you get a sixth sense for things. Otherwise the the chart is fine, in fact it's basically just back to where where was. If I was still long DTIL I'd probably give it at least to Friday's lows for a stop at this point as it's at a place where it should bounce if it's going to.
DUST - I have some in my IRA not a big position
regarding DTIL - if you
Posted by matt on 26th of May 2020 at 09:42 am
regarding DTIL - if you are still in again price rallied from Friday as I said it was the price for it to try and rally again, a stop could go there at this point