OXY was one of the ideas featured a few times. Worth noting that
Buffett bought more again recently and has a 20% stake in the
company now. Certainly a nice tail wind if choosing this one to
trade. I would guess this is why Steve has shown this one as a
trade idea. I have a friend that works with XOM.
I personally just stick with XLE (the sector) and use a levered
2xetf, ERX when I play the space. This shows how individual trading
is. It is based on what someone is comfortable with to begin with
regarding the instrument of choice, then can go from there in
managing entries, exits, etc. "In accordance with your plan,
objectives, etc." as is often preached.
Posted by retirefire on 20th of Jul 2022 at 08:44 am
Thanks, its coming together finally to have tradable plan AND be
consistent with it, thus if it doesn't work then adjust. There will
be times I wish I sold earlier just as wishing I held longer. But
consistently taking profits sounds good.
That's fantastic! I'm seeing it like I did when I played
baseball these days. I don't wish I hit a Homerun. I'm happy that I
doubled into the gap and scored a few runs. That kind of consistent
play is a significant contribution to winning games. One at bat at
a time. Sometimes it is ok to walk or take a day off if I'm
tired (sit out, walk away, not trade for some hours, etc.). Preset
orders and alerts are my friends so I don't need to watch every
tick.
Waiting for the close has been another strategy I've used to get
more full moves before adjusting. Of course each has its own risks
and rewards. Or run a hybrid.
Posted by retirefire on 20th of Jul 2022 at 09:02 am
Yes and I like Steve's plan of watching for a bottom, then wait
for a tradable higher low to form and ride that. Versus
trying to always catch the bottom (amost impossible for me).
Patience. will be watching NUGT/GDX
Great point, Matt has discussed waiting for it to take out the
above resistance as a trigger on those. Trade high prior day in
some cases.. No trigger, no trade. Great stuff man
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OXY was one of the
Posted by fundamentalvalues on 20th of Jul 2022 at 07:19 am
OXY was one of the ideas featured a few times. Worth noting that Buffett bought more again recently and has a 20% stake in the company now. Certainly a nice tail wind if choosing this one to trade. I would guess this is why Steve has shown this one as a trade idea. I have a friend that works with XOM.
I personally just stick with XLE (the sector) and use a levered 2xetf, ERX when I play the space. This shows how individual trading is. It is based on what someone is comfortable with to begin with regarding the instrument of choice, then can go from there in managing entries, exits, etc. "In accordance with your plan, objectives, etc." as is often preached.
Thanks, its coming together finally
Posted by retirefire on 20th of Jul 2022 at 08:44 am
Thanks, its coming together finally to have tradable plan AND be consistent with it, thus if it doesn't work then adjust. There will be times I wish I sold earlier just as wishing I held longer. But consistently taking profits sounds good.
That's fantastic! I'm seeing it
Posted by fundamentalvalues on 20th of Jul 2022 at 08:55 am
That's fantastic! I'm seeing it like I did when I played baseball these days. I don't wish I hit a Homerun. I'm happy that I doubled into the gap and scored a few runs. That kind of consistent play is a significant contribution to winning games. One at bat at a time. Sometimes it is ok to walk or take a day off if I'm tired (sit out, walk away, not trade for some hours, etc.). Preset orders and alerts are my friends so I don't need to watch every tick.
Waiting for the close has been another strategy I've used to get more full moves before adjusting. Of course each has its own risks and rewards. Or run a hybrid.
Thanks for sharing your notes!
Yes and I like Steve's
Posted by retirefire on 20th of Jul 2022 at 09:02 am
Yes and I like Steve's plan of watching for a bottom, then wait for a tradable higher low to form and ride that. Versus trying to always catch the bottom (amost impossible for me). Patience. will be watching NUGT/GDX
Great point, Matt has discussed
Posted by fundamentalvalues on 20th of Jul 2022 at 09:19 am
Great point, Matt has discussed waiting for it to take out the above resistance as a trigger on those. Trade high prior day in some cases.. No trigger, no trade. Great stuff man