trailing stops
yesterday I bough SENetas at $0.57 and it had an intraday high of $0.595 (+4%) closing at $0.58 (+1.75%).
since my target of $0.64 (+12%)wasnt reached, and the buy depth still looked strong at the end of the day, i decided not to sell. this morning I will watch this one closely and use a manual trailing stop at breakeven of $0.57 or higher if I see weakness.
i think trailing stops should always be used, and you should never turn a winning trade into a losing one.
my general rule with "daytrades" is to only hold while there is good momentum going forward, and sell at the first sign of weakness. there is no point in selling if its still going up.
SEN still has momentum. it closed on a higher high and the intraday high was also higher. $0.60 might prove to be a bit of resistance and if this is not touched today I shall sell regardless, but if this is broken we may yet see my target reached.
since my target of $0.64 (+12%)wasnt reached, and the buy depth still looked strong at the end of the day, i decided not to sell. this morning I will watch this one closely and use a manual trailing stop at breakeven of $0.57 or higher if I see weakness.
i think trailing stops should always be used, and you should never turn a winning trade into a losing one.
my general rule with "daytrades" is to only hold while there is good momentum going forward, and sell at the first sign of weakness. there is no point in selling if its still going up.
SEN still has momentum. it closed on a higher high and the intraday high was also higher. $0.60 might prove to be a bit of resistance and if this is not touched today I shall sell regardless, but if this is broken we may yet see my target reached.
posted at: 11:32 am
1 Comments:
Tuesday: Print on the precipice
Of Liberals and Networks 06/13/2004 The Assumption of Trust 05/27/2004 The Busine$$ of RSS ... 11/08/2005 Entry: "Print on the precipice" The story of the potential forced sale of Knight-Ridder has everybody in the newspaper business nervous, and rightly so.
LOSE WEIGHT FAST, SAFE & EASY HOW TO LOSE BODY FAT
Post a Comment
<< Home