As the thread develops, You will see swing trades develop. I don't know if you guys know how PTJ corp trades, I trade very similar to him in methology of how orders are put on. I always hold overnight when I'm profitable. Risk is only a factor when I am losing money. During the next few days, you won't see many swings develop mainly because. This market is over extended. You will see more profit taking or close out trades from me because thats the nature of the game. As the market gets ready for another bull run, you will see many swings being developed. I only started posting because 1) tradingbug is threatning me to post 2) I need to build up multiple order dropping experience during the next 1-2 weeks so I can be prepared for the next bull run which I missed last week coding. I will say: be prepared for one of the most interesting/profitable thread in awhile
I thought in order for this thread to work out(which I wanted), we needed your participation. A place where we could nicely share ideas with a common goal to better our trading. This looks like a tall order.
Out of BTUI at 15.48. Was looking for it to break 16 and take an exit this morning. didnt work out like that.
LEND is on my watch list.I missed it when it broke 48 the other day and again this morning when it went thru 48.65 Where is your stop?
NEW TRADES Long NCX Entry $34.12 Stop $33.69 Target $36.30 to $39 Short USD/CAD Entry 1.1634 Stop 1.1709 Target 1.148 or better RUNNING TRADE Long TPX Slow mover in 7days but still in the channel...stop moved to entry point Target $13-$14 Cheers...
Commentary: NCX is decent that it broke out, but look for one down day before blasting to $39 if there are 2 down days then the price will be a failed breakout considering the volume of breakout was low, that signals -stay alert-
My absolute stop would probably be right below the 47 area. As I monitor the volume, I can see that it isnt as good as I had hoped it would be at this point of the day. I usually have a few different types of stops depending on the where in the cycle we are. here is a thread with a little more info. http://www.elitetrader.com/vb/showthread.php?s=&threadid=57912&perpage=6&pagenumber=1
Do you have a target for LEND? Are you anticipating a breakout over 51.75? Do you use a trailing stop. What time frame do you use to draw your trend lines? Nice pop a few minutes ago. I'd consider moving my stop up to 49