Discussion in 'Trading' started by PeterKiefer, Mar 8, 2004.
selling short EBAY here at 71.70 --- anybody any thoughts here
Just that there was a lot of money to made in this issue today .... and more to come.
Why step in front of this train? It broke out over a triple top. Maybe it comes back but I don't see any edge here.
bought back my shorts at 69.36 for a nice profit
just wanted to mention for the folks out there that it was actually
a low risk trade and not jumping in front of a train or a trade without an edge ......
For others my recommendation :don"t just look at chart patterns for the sake of identifying them always find 2 indicators or conditions that confirm these patterns and on a personel note I was feeling more comfortable with my shorts after reading how bullish or doubtful some of you guys were at that time - thanks
What was your target price or how long did you intend to hold the position when you initially entered it?
Glad I was able to help...
I never think when entering a trade how long will it take to either get stopped out or meet my objective - I look at the price .
Since I trade about 20 volatile stocks most of my trades last a few hours to a few days. With EBAY my objective was approx.
69.50 --- depending on the vol. at this time I looked at a 5 day HL
range and usually cover my position and even reverse at 50%
(H 72.04 L 67.01 =69.50) today I reversed between 69.40
and 69.28 with a target of 70.78 because 2 other cond. where met . But I cheated today and took profits already while I am writing this at 70.50 - 54 --- The reason was simply I didn"t like
the price action in relationship to a moneyflow indicator I created.
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