the problem of swing trading

Discussion in 'Trading' started by heilbronner, Jul 17, 2003.

  1. is when you get a profit warning in a long position. This happened today with NOK, down almost 20%. No chance to get out, stopp- loss useless in that situation. Portfolio not that much down because of short positions like SAP, YHOO or MDC, but still it hurts.
     
  2. noname

    noname

    yea, it sucks when that happens, but at least for me it has happend both ways, it kinda evened it self out, for me at least
     
  3. funky

    funky

    yep, that's exactly why i daytrade. don't have the balls to take it like that.
     
  4. Brandonf

    Brandonf ET Sponsor

    There is just as much risk in a daytrade.
     
  5. shaq48

    shaq48

    EXactly Brandon...I remember a drug stock a couple years ago,LLY I think...It was trading at is high for the day momentum was excellent and daytraders were pushing it...boom halted..FDA ruling...opens down $10...probably wiped some daytraders out.
     
  6. There can also be news moving the stock higher overnight past your profit target....
     
  7. Out of curiosity, why were you long NOK for a swing anyway? I can't find a single reason why anyone would have wanted to own it from a technical view.
     
  8. dbphoenix

    dbphoenix

    Only if the drop occurs intraday.
     

  9. DBPhoenix,

    Brilliant.


    --MIKE
     
  10. dbphoenix

    dbphoenix

    Well, this drop occurred overnight. I don't see the pertinence to daytrading. One of the benefits of daytrading is avoiding this sort of thing.
     
    #10     Jul 17, 2003