Sticking with my plan. Paleo alto is in that category of technology momo so I had it in a short leash. I think the others are in a pretty strong uptrend. If we get selling on heavy volume again tomorrow in mining and “stuff” stocks like we did today I might cut CF and TECK early as well. MRK will stay unless it hits my original stop.
good question… like I said it’s a momo stock and I really disliked the intraday market reversal from up big to down big particularly in Nasdaq. Honestly I thought my stop was at 600 but when i looked at it and saw it was lower I considered today’s market action and that’s how I made my decision
I mark up my charts with the plan (Stops, target and reason for being in the trade) and have alerts set to let me know when stops are getting close. Nothing wrong with adjusting the plan as long as you don't do it in the heat of the battle.
That’s a fair point and heat of battle might have had something to do with it. also I haven’t been putting in actual stops I probably should. If I do they will show on the charts.
I rarely put stops in the market. (Except golfing days) If it looks like they'll get hit I'll put them in. It costs me sometimes, like CCJ today. I was asleep at the wheel, watching another stock for an entry.
I golf a few days a week. But that’s coming to an end next week, I’m heading North. So I’ll be down to once a week. Sometimes I trade in the golf course which is a mortal sin.
WTF!! Wasn't That Fun. Don't feel bad. I sold 5 positions this morning because they had hit their stops. I consider them all good trades because I followed my plan. Now I have a fistfull of cash for when the next opportunity presents itself.