Short term discretionary trades---Real time examples

[GreatPig]

Bought MIG at $3.49. Stop at close below $3.35 for bit over 4% loss.

GP

 

[RichKid]

Bought MIG at $3.49. Stop at close below $3.35 for bit over 4% loss.

GP

Hey GP,
Did you think of reducing the position size and using last week's bottom as a wider stop, especially with that gap (may not get filled?). I assume you bought the good volume breakout of the dt line. Just thinking out aloud in case this is of any use.

 

[GreatPig]

RichKid,

In the current environment, I don't want to have too wide a stop.

For the recent past, my stop is around the support level, with only the main bottoms having briefly dipped below that. Since a main bottom has (hopefully) just been, another drop through my stop would be uncharacteristic, and I think an indication that my hoped-for rise will have failed.

That's my theory any way, and I'm sticking to it.

I assume you bought the good volume breakout of the dt line.

Yes. The breakout volume was around the 100-day EMA, but I think that's reasonble for such a decent break.

Currently $3.51.

Cheers,
GP

 

[GreatPig]

Well bugger... looks like my BTA is about to be stopped out.

Or I could just lower the stop to $1.30.

GP

 

[Sean K]

BTA could go back to .60c imo without bird flu news.

 

[GreatPig]

Hopefully not tomorrow!

GP

 

[tech/a]

GP

Times are tough!
SRK now in trading holt pending Announcement on Peru Mine.

 

[GreatPig]

BLR jumped up nicely after coming out of trading halt (actually suspension) but then lost it all the next day.

GP

 

[tech/a]

Yeh pretty common.
I'm not in love with SRK its just a trade so will be wary.
Thanks.

 

[GreatPig]

BTA gone for $1.38.

So the sky is the limit now! Expect a close at $1.50 today. :

GP

 

[Phoenix]

Entered ZFX 9.65 Stop 9.00, Sell target at 10.20. Hope this goes good.

 

[Ageo]

Entered ZFX 9.65 Stop 9.00, Sell target at 10.20. Hope this goes good.

Phoenix im interested to know why you have a sell target? I mean if it kept running upto $11.50 then retraced back to $11 would you prefer to have a trailing stop?

Just curious thats all, i know you want to lock profits in but you can do the same with a trailing stop.

 

[Phoenix]

Hehe srry it came out wrong i will definately use a trailing stop and thats just my target price.

 

[Ageo]

Hehe srry it came out wrong i will definately use a trailing stop and thats just my target price.

oh hehe cool sry for the mix up

 

[GreatPig]

Closed out MIG today, even though it hadn't dropped through my stop position.

I closed out all remaining positions today (the few small ones I still had), and didn't want to just keep holding on to MIG.

Will now be waiting for more definite signs of a market recovery before entering trades again. I know it's starting to look a little promising already, but it wasn't first thing this morning when I closed out the positions.

Cheers,
GP

 

[phoenixrising]

Bought LHG@2.54 3.59pm today.Purely discressionary trade.

Liked how the gold 200 day ma was hit and coming back, some LHG buying after 2.34 lo also.

See what happens, on the lookout for bouncing cats!!!

 

[tech/a]

Bought another 30000 DLS yesterday as well. at 13.5c.(Average now 15.5c).
Averaging down is not a good play--I have been able to do this without stress as i only initially took half parcel sizes.This is more a Risk Mitigation than a profit play---although it doesnt seem that way.
In the short term arena that and SRK is all I have open.

 

[Phoenix]

ZFX Stopped out took a small loss.

 

[Phoenix]

Entered BEN 12.86 sell target 13.60 stop 12.50

 

[Phoenix]

Entered BTA 1.24 Stop 1.20 target 1.58