I am a BP boy. (BPZ7) Kinda new to all this, so DON'T anyone go do something just cause I make it sound good but this sounds like fun. I like 2.0281 for a potential long (of 1-2 days) with a current target of 439 - It may get there tonight (the low side) -night trader- but my final decision depends on the then current action, or lack thereof. - Anything is possibile. (pricing subject to change without notice) If I were really confident, I would short it down to there but I am in watch mode. (not confident...yet) I will like any reversal signals in the mid-high 290's. PS consult your advisor before making decisions. PPS I hope I can still play even though I am not doing stocks.
I subscribe to a newsletter service that gives picks and causes an immediate move. I use a buy limit order and make sure it hasn't moved too far away from the pre pick share price. The stock typically moves 1.5 to 3 points in my favor and I scale out on the way up. The only problem is with the limit orders sometimes you only get a small fill, but usually I get a full fill. Using market orders doesn't work b/c the mm'er can wait to fill you at the top (and it's happened to me thats why I reverted to limit orders and the possibility of missing the trade)
That can work horribly against you. Shorting in general is just a bad thing to do for reasons i've stated before. WAY more potential on the upside. (unless you have proper risk control for shorting...something that took me 6 months of losses to develop) If anyone wants an explination, I will kindly indulge.
Hello...why not check the P&L 2007 posts.... MBAGEARHEAD is scalping his way towards greatness.....and looks to be the next Timmay...without the attendant disasterous single trade. One thing about gearhead: it doesn't get to his "head"....which was so apparent with Sykes when he got "suckered" into that long bet on Cygnus.....arguably one of the worst performing microcaps in the history of investing.
Looks like all the folks here are chart readers. Where is the gut-feeling that is borne of experience that cannot be expressed in just price action? And how will the effectiveness of these set-ups be verified? Can any TD&H just put up technical mumbo-jumbo that cannot be objectively tested and assessed? OK here is one that is not just price action: If a stock pulls back 10% from a 1-month high over the course of not more than 2 weeks from the high, buy and hold for one week, subject to these criteria: -- Price at least $40 and market caps at least $500million --P/E ratio between 10 and 100 based on current years and next years earnings estimates --No one-day decline of more than 8% since the high (basically avoid sudden drops due to adverse news) --PEG ratio between 0.5 and 1.50 --Up at least 30% in last 6-months Now that is a lot of information to look at. But just so you know everything does not revolve only around price action.
Well, you can buy puts. Limited downside, virtually unlimited upside (theoretically limited, but as a practical matter way more than the downside).
Shorting is the same thing as going long but in reverse. You should have the same stops as you do on the long side for the short. Just as you are careful to pick you entry points on long, the same holds on short. --- I know this is not my thread and maybe I mis-read. Don't get me wrong, lots of great posts here but am I the only one willing to put up a trade idea?
HEY Anek all these posts, and not a single diamond oh they are out there, I got 3 myself but you won't see true traders sharing them by true trader I mean those making 800 and up per day. One day Anek when you become a great trader, you won't be starting such stupid threads I am not disrespecting you but telling you my genuine thoughts