PUBM - Chart Link- I'm sorry guys I was sure I
added that pick from Steve to the newsletter, I own it myself,
loved the coil, I don't see it. Anyway it was posted yesterday by
Steve
I had this one all set up, ready to go. Had a stop limit
right above the coil. It triggered the stop, but never
hesitated long enough to buy at the limit, even though it opened
below this point. One of these days I am going to get this
entry thing right......but, not today.
that's okay Ray it happens. But one thing I've discussed a lot,
and this is where the 'art' comes in, if a pattern looks very good,
stands out textbook, and the volume patterns were good, many times
I'll just go ahead and buy it early inside the pattern because many
times it will just gap. PUBM was one of those patterns that really
stood out. I like the ZBRA pattern too but I don't own it yet,
monitoring it.
Thanks for reminding me to potentially buy inside the pattern.
That is what I should have done. I have ZBRA set-up, as
well. As you point out, it hasn't triggered yet. I will
monitor, real-time for a potential early entry.
I would not go there and say that's what you should have done,
again it's more of a feel and an art than anything, something that
comes with time after looking at 1000s of charts, and I get hurt
plenty of times too doing that.
anyway the point is, if you see a standout pattern and the
volume patterns are great, the tap is good, and it's still inside
the pattern, those are times you can consider taking a shot
early
Any general rule of thumb or suggestions when placing a stop
limit order on how large a spread to use when placing a stop limit
buy order (assuming you are buying the breakout)? For stocks
under $10.00/share I generally use $0.05, then bump it up to $0.10
for stocks $10.00-$20.00/share., etc. Is that too tight a
range?
I set the stop and limit to the same price I want to enter for
the breakout. Even that tight didn't get me into PUBM this
morning. Matt and Steve are the experts, of course. I
am still in the "plan tweaking" phase.......
regarding the limit - try to observe the average spread between
bid/ask - placing it right at the stop rice unless the spread is a
penny you might not get filled
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PUBM busted out of that coil
Posted by matt on 30th of Nov 2021 at 09:36 am
PUBM - Chart Link- I'm sorry guys I was sure I added that pick from Steve to the newsletter, I own it myself, loved the coil, I don't see it. Anyway it was posted yesterday by Steve
I had this one all
Posted by Ray on 30th of Nov 2021 at 09:39 am
I had this one all set up, ready to go. Had a stop limit right above the coil. It triggered the stop, but never hesitated long enough to buy at the limit, even though it opened below this point. One of these days I am going to get this entry thing right......but, not today.
that's okay Ray it happens.
Posted by matt on 30th of Nov 2021 at 09:42 am
that's okay Ray it happens. But one thing I've discussed a lot, and this is where the 'art' comes in, if a pattern looks very good, stands out textbook, and the volume patterns were good, many times I'll just go ahead and buy it early inside the pattern because many times it will just gap. PUBM was one of those patterns that really stood out. I like the ZBRA pattern too but I don't own it yet, monitoring it.
Thanks for reminding me to
Posted by Ray on 30th of Nov 2021 at 09:48 am
Thanks for reminding me to potentially buy inside the pattern. That is what I should have done. I have ZBRA set-up, as well. As you point out, it hasn't triggered yet. I will monitor, real-time for a potential early entry.
I would not go there
Posted by matt on 30th of Nov 2021 at 09:49 am
I would not go there and say that's what you should have done, again it's more of a feel and an art than anything, something that comes with time after looking at 1000s of charts, and I get hurt plenty of times too doing that.
anyway the point is, if you see a standout pattern and the volume patterns are great, the tap is good, and it's still inside the pattern, those are times you can consider taking a shot early
Any general rule of thumb
Posted by RichieD on 30th of Nov 2021 at 10:15 am
Any general rule of thumb or suggestions when placing a stop limit order on how large a spread to use when placing a stop limit buy order (assuming you are buying the breakout)? For stocks under $10.00/share I generally use $0.05, then bump it up to $0.10 for stocks $10.00-$20.00/share., etc. Is that too tight a range?
I set the stop and
Posted by Ray on 30th of Nov 2021 at 10:20 am
I set the stop and limit to the same price I want to enter for the breakout. Even that tight didn't get me into PUBM this morning. Matt and Steve are the experts, of course. I am still in the "plan tweaking" phase.......
regarding the limit - try
Posted by matt on 30th of Nov 2021 at 10:28 am
regarding the limit - try to observe the average spread between bid/ask - placing it right at the stop rice unless the spread is a penny you might not get filled