Stops on the watch list I treat as just a hard stop. If I
have a stop listed at 20 and the stock is at 21 and falls and hits
20, I remove it. I take profits at target areas.
You are making it too
complicated. decide if you want to trade the watch
list as it is highlighted (please read the detailed comments for
each stock I have) or trade according to your own trading
style. If you followed the watchlist exactly how it is, then
you would buy a stock at the breakpoint or a penny or two over it
(if it's a long) and
then set a stop
immediately, don't wait!! (I list initial stops for
each trade, but you can choose to follow those or your own,
whatever works for you and what fits your style), and then if a
stock rallies good, take some off the table and move your stop up
(on the watch list you can see that I move stops up a lot), then
sell near target areas.
You can day trade the watch list, you can swing trade the
watch list, you can do a hybrid combination of the two. You
can buy before or at the breakpoint or after the breakpoint,
etc. Or you can just follow the watch list as it is laid
out. Decide what you want to do and what fits your style and
go with it
a big key especially to swing trading is to set a stop right
after you enter a position, don't wait around, because if you
don't, it then becomes emotional; that's how traders end up letting
a small losing trade turn into a big losing trade - they hold and
hope instead of following a set discipline. Of course if you
are day trading, then setting an initial stop is not that important
because you are generally out quickly.
Stops on the watch list
Stops
Posted by matt on 15th of Dec 2009 at 10:19 am
Stops on the watch list I treat as just a hard stop. If I have a stop listed at 20 and the stock is at 21 and falls and hits 20, I remove it. I take profits at target areas.
You are making it too complicated. decide if you want to trade the watch list as it is highlighted (please read the detailed comments for each stock I have) or trade according to your own trading style. If you followed the watchlist exactly how it is, then you would buy a stock at the breakpoint or a penny or two over it (if it's a long) and then set a stop immediately, don't wait!! (I list initial stops for each trade, but you can choose to follow those or your own, whatever works for you and what fits your style), and then if a stock rallies good, take some off the table and move your stop up (on the watch list you can see that I move stops up a lot), then sell near target areas.
You can day trade the watch list, you can swing trade the watch list, you can do a hybrid combination of the two. You can buy before or at the breakpoint or after the breakpoint, etc. Or you can just follow the watch list as it is laid out. Decide what you want to do and what fits your style and go with it
a big key especially to
Posted by matt on 15th of Dec 2009 at 10:36 am
a big key especially to swing trading is to set a stop right after you enter a position, don't wait around, because if you don't, it then becomes emotional; that's how traders end up letting a small losing trade turn into a big losing trade - they hold and hope instead of following a set discipline. Of course if you are day trading, then setting an initial stop is not that important because you are generally out quickly.
WATCHLIST
Posted by kutschera on 15th of Dec 2009 at 10:26 am
Thank You