Got to the computer at around 10 AM, noticed that the low was at 5.02 (my entry) but I didn't get a fill so I entered at market (5.05 at that time) and left my 2% profit target on... Code: 910232466 Sell 497 EMKR Limit at 5.15, GTC Partially Filled:Filled 910232466-P1 Sell 497 EMKR Limit at 5.15, GTC Partially Filled 97 at 5.15 2003-12-02 10:34:25 910232466-P2 Sell 497 EMKR Limit at 5.15, GTC Partially Filled 400 at 5.15 2003-12-02 10:27:22 910230647 Buy 497 EMKR Limit at 5.05, DAY Partially Filled:Filled 910230647-P1 Buy 497 EMKR Limit at 5.05, DAY Partially Filled 297 at 5.05 2003-12-02 09:56:46 910230647-P2 Buy 497 EMKR Limit at 5.05, DAY Partially Filled 100 at 5.05 2003-12-02 09:56:45 910230647-P3 Buy 497 EMKR Limit at 5.05, DAY Partially Filled 100 at 5.05 2003-12-02 09:56:45 909884091 Buy 497 EMKR Limit at 5.02, DAY Canceled As usual I'll post my picks for wednesday later tonight, happy swingin' 12/2/03 No Position Equity: $2,547.74 +5.448% since 11/25 3 Winners 0 Losers
My pick for 12/3 is KRY. Entering limit at 2.82, exit is at 2.88 (2% as usual) BUY 903 shares of KRY, Crystallex Intl at LIMIT of 2.82 DAY
Filled at open (2.80), too bad I got to comp at 10 because I could've probably taken my 2% (exit is 2.86, the high). Sell @ limit of 2.86 currently in place
U see with out stops and defined risk measured.. your 3 nice winners can easily be wiped out. I dont believe in trading w/o clearly defining your risk. --MIKE
I have clearly defined risk I have a system and I re-analyze my position daily, I have a mental 5% stop
Having a mental stop loss with small cap stocks is suicidal. These crappers can go down 10% in 5min.. --MIKE
Yes but that's a risk I take, I don't like having hard stops intraday; I realize that it can bite me in the ass eventually but it hasn't yet and it's something I'm willing to accept
Haha, I guess you could put it that way. I'm not denying that it IS risky, I'll also add this, when I traded this method with more capital a few months ago, I would have 3-4 trades going at the same time and each would have 10% hard stops in The 15% moves in the other direction in ONE DAY are rarer than you think with the selection system that I use, maybe 1 in every 100-200
Was extremely busy all last night and was unable to post an update nor even take a look at my position. It's down a little over 10% right now, but I still like the chart and so I will hold it for at least another day. If I see a close near the low on friday, I will be taking the loss. This is part of the reason that I don't like a hard stop, it might take me out of a position that I deem a good one.