rsarno
103 posts
msg #35291
- Ignore rsarno |
3/6/2005 11:09:52 PM
This is something i see written and discussed in nearly every article/book i read, but for some reason i have such a hard time obeying it!
Can we discuss this?
lets say you buy on open and it spikes up 30% then pulls back another 10% just before close ... its still a winner, is it cut or held? Anything imparticular to look for to determine if it has a serious pullback in store for the morning?
My best trades have been (when it works out) i buy at say 4.72 and set an immediate sell order for say 4.98, i often catch a quick spike just before it pulls back down. Doesnt this contradict the "rule" ?
Could it be that this rule is not fit for some types of plays? I mean when we look at some stocks we are looking for a quick spike, not for a long run for the sun.
But on the other hand i have been in numerous situations where i buy at 4.17, sell at 4.44 and then it runs to 4.90 .... i have also been in situations where i am sitting on losers hoping (yea i know ..) that it will pop soon .... ALSO been in situations where i buy even more into a loser because since it pulled back i like the price even more!
dang im just a mess, huh?
I guess im just like 98% of other traders out there ..... probably the 98% that lose their cash within a year ...
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