Yes I blame you! Actually I take 100% responsiblilty for this trade and everything I do. Given that the nasdaq has run 100+ points since I entered this trade, it's still not a bad short sale. This stock is very tough to sell and profit (just ask surfer). I only tried because I love challenges. My stop will be based on feel, technical formation, and momentum of the entire market. I'm looking for lower prices in the entire market next week, and hope that CROX will follow the downtrend. I'm not married to this stock, and I have a tiny position in it relative to my portfolio. I never let stocks run against me, and this will be no different. ps whats a swing trader?
That's like saying that if I go long a stock which doesn't really go up, but the market goes down, it's not a bad long. You would agree with that, I suppose. I say that's horse shit: if you don't make good money relative to your risk, on both the long or short side, and the setup being taken isn't one that over a period of trades guaranteed good money relative to risk, I will venture to say that the trade is bad. Crox will be a good short if a downtrend forms, and it will be a good trade on your part if you ride it. You say "you like a challenge." That strikes me as being opposite the mentality required for successful trading; let me explain. It's not that successful traders don't like challenges, it's that successful traders prefer easy money setups vs. more complicated setups that require lots of reasoning and have very questionable risk/reward ratios and are only fulfilling because the opinion is very contrarian. It seems like you'd rather be right than make money. I suffer from that issue sometimes (yesterday comes to mind), and I must say there are easier shorts and better chart setups out there... now if you are making a great living from the market, by all means keep doing what you do and don't listen to a word I'm saying. However, if you're struggling, and this CROX short is an example of a trade you typically take, I suggest you analyze with honesty to yourself if you prefer easy money or "being right."
Honestly, I wish you all the luck. However, this stock is going up and only a market turmoil can get you out safely. CROX's growth is too compelling fundamentally. But you wanted a challenge, so be it.
Thank you for your post. I am having a very successful career as a trader. CROX has moved 50 cents against me. I would never let it run against me, as I never let any stock run against me. In the post you quote, I already said it represents a tiny fraction of my portfolio (< .1%) I do love a challenge, but I love making money more. I've mastered making money with very little risk. MY worst quarter is -1% over the last 10 years. CROX represents a challenge b/c it has crushed every other short seller. And I pride myself as being a good short seller. But if it represents < .1% of my portfolio, that speaks volumes about this trade.
good...just wanted to make sure. it's coming up on my radar as a potential entry, but long, not short. swing trader = position trader = someone who (generally) holds the position for several days / weeks.
Thanks gaj, i'm definitely not a position trader ! Sometimes we see potential chart breakouts that turn out to be headfakes and reversals. $70 is key on CROX.
Great call amigos. i'm stoppped out 70.10. sorry for bad call. i'lll def try to redeem myself most expeditiously, and congrats to anyone long.
glad you stopped out, instead of being stubborn. nothing to apologize for, it just didn't work out. and under the blind squirrel finds a nut...i went long a little higher than where you got stopped out, am already out. i'm not very good at jumping aboard an intraday moving train, but profits are profits....
Based on your call I loaded up on shorts with this stock. Now you change your friggen mind??? Baron, where the hell does the piker Rowshan live?? Rennick Manson out