Another PX green
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14 comments:
Hi Tracer,
Curious to find out what your stops are for the latest entry point?
Also got in at 15.20 levels :P my entry is piss poor
Thanks
depends on risk appetite and stock. For PX If you are a trend follower 6 to 8%, 15.20 I think is a good entry.
My computed entry is on the right side,that is 15.0, must add 2 handles up since that area is normally crowded. PX is also sometimes extremely volatile. Caveat.
Good Luck and Merry Christmas
Hi Boss Tracer. I'm kinda curious on how you "rate" a stock as a "green". What methodology do you use? I don't think you will openly share it but I hope you can point me to the right direction and I will go from there. Thanks sir. I've been following your blogs for quite a while now.
Please read the green signal at the home page top right corner. Green signal is a buy signal. It is the important pivotal points, in which if broken will normally lead it to new highs. Always trade with caution.
Thanks tracer :D I put in a 5% stop, I'm trying not to be greedy this time, I have a lot of losses from getting whipsawed because my stops were less than 1/2 ATR. :P My stop at 14.6 gives me a 5-6% stop loss on the stock.
Good luck! Looking to add more on light pull backs
thanks Boss Tracer. Its always a pleasure reading your blogs. Happy Holidays
for a trend follower, stops must be larger and positions smaller.
If you day trade only or margin caller, tight stops and big positions. I do not recommend day trading or margin callers, only a selected few succeeds, 1 in a thousand.
that 5% stop loss would depend on how much capital you are risking too.
5% of P100,000 = 5,000peso but 5% of 1M = 50,000peso and so on, this could undermine you emotionally to take the loss.
Determine the exact dollar figure that represents the maximum loss you're willing to take on a single trade. Then do the math and make sure your exposure won't exceed this number. ~ Alan Farley
exactly, in order to be a trend follower, you must removed emotion, fear, only risk to sleep level.
Hi all, thanks for the inputs!
the 5% stop loss was for the stock :) but it translates to a 1% loss on my total equity, the share size is positioned accordingly :P
Another weakness of mine is scaling in. I usually find myself unable to decide quickly about whether or not I should add to my position. I typically come in at 50% of my max position at first. Would love to hear your insights!
Click link below for sample of scalin in.
http://financemanila.net/forum/viewtopic.php?f=1&t=291&start=1833
50% max for you first position I think is too big, probe the stock first before making a big commitment.
If you first probe show you a profit, you are on the right side of the market. I never buy on retracement, If you buy it up and it shows a profit, then you have a good chance that a move is underway. If you buy the dips and it got filled, maybe it is a fake or you just got lucky to be filled,
if it is a real move, difficult to buy the dips, its a hard to buy.
" Suppose he buys his first hundred, and that promptly shows" him a loss.
Why should he go to work and get more stock? He ought to see at once that he is in wrong; at least temporarily"
Livemore
Hey tracer really appreciate the comments. Thanks for getting out of your way to look for your post in FM :) really appreciate it. Merry Christmas!
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