How about CX today, good

    Posted by frtaylor on 24th of Jun 2021 at 02:38 pm

    How about CX today, good move after a deep pullback. Glad I held my shares.

    Nice on CX, after reviewing

    Posted by retirefire on 24th of Jun 2021 at 02:55 pm

    Nice on CX, after reviewing my past trades its irritating to see if I just held threw some pain more than the majority recovered for profit. I guess it helps me see the need for a better plan.

    Smaller position size is what

    Posted by frtaylor on 24th of Jun 2021 at 03:17 pm

    Smaller position size is what has helped me. Also, I leave in orders at support (9ema, 20, 50). That keeps me from pulling the trigger on too many ideas and then having too many to manage. Still, plenty of things I sold that went up the next day, hour, etc.

    Similar here, smaller position size

    Posted by rjdst on 24th of Jun 2021 at 03:53 pm

    Similar here, smaller position size is very helpful - it enables the repeated experience and positive reinforcement of being able to hold through a pullback and riding price back up.  

    A couple of issues that I experience... if stocks are bouncing after stopping you out, are your stops too conservative given the typical trading range of the stock (and logical support)?  That happens to me when I take too big a position and try to manage risk by setting stops tighter than what price actions indicates is a reasonable stop.  

    I used to consider max % loss when planning my stops.  For me, doesn't work so well.  Now I more often think about max $ loss.  If I'm going to get uncomfortable if I'm down $300 on a single position, and a logical stop is 4% below current price, then I shouldn't be taking a position that exceeds $7,500.   If the logical stop is 6% below current price, then max position size should be $5k.  

    I also look at average daily moves of a stock.  If something is high beta and moves 5, 7 or 10% on a regular basis, I have no business getting into it if I feel my stop has to be just a few % lower than current price.  One average intraday move could stop me out.  I'm more confident and trade better when taking positions that would require at least a couple days' worth of avg. decline to stop me out.  

    thanks rjdst, good points.

    Posted by retirefire on 24th of Jun 2021 at 03:58 pm

    thanks rjdst, good points.

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