Comments on: Keep it Rolling http://www.thestockbandit.net/2006/04/05/keep-rolling/ Trading blog with trading insights, discussion on swing trading, day trading, and trading psychology. Sat, 17 May 2008 00:50:19 +0000 http://wordpress.org/?v=2.0.9 by: TheStockBandit.net » Trading Chart Patterns: Why Cleaner is Better http://www.thestockbandit.net/2006/04/05/keep-rolling/#comment-5857 Thu, 22 Mar 2007 17:53:05 +0000 http://www.thestockbandit.net/2006/04/05/keep-rolling/#comment-5857 [...] There’s no incredible magic about how clean or ‘tight’ the pattern itself is in terms of reliability, but there is some real substance in knowing exactly at which point in time you should be IN or OUT of a trade. That is of course derived from the chart pattern itself. A breakdown from a well-defined bull flag or ascending triangle pattern gives me a specific exit plan, and that puts me well ahead of the curve by telling me it’s time to step aside and move to cash, or simply shift those funds into a new setup. [...] […] There’s no incredible magic about how clean or ‘tight’ the pattern itself is in terms of reliability, but there is some real substance in knowing exactly at which point in time you should be IN or OUT of a trade. That is of course derived from the chart pattern itself. A breakdown from a well-defined bull flag or ascending triangle pattern gives me a specific exit plan, and that puts me well ahead of the curve by telling me it’s time to step aside and move to cash, or simply shift those funds into a new setup. […]

]]> by: TheStockBandit.net » Keep it in Perspective http://www.thestockbandit.net/2006/04/05/keep-rolling/#comment-1294 Wed, 02 Aug 2006 04:25:58 +0000 http://www.thestockbandit.net/2006/04/05/keep-rolling/#comment-1294 [...] And if you’re thriving right now, be sure to appreciate it with a greater intensity than you would hate it if you were struggling. Keep it rolling and maintain your focus when the market’s in motion. And once again, remember that when the closing bell rings, there’s a lot more to life to enjoy than some good trades. Surround yourself with good people and spend some time creating something that will last. [...] […] And if you’re thriving right now, be sure to appreciate it with a greater intensity than you would hate it if you were struggling. Keep it rolling and maintain your focus when the market’s in motion. And once again, remember that when the closing bell rings, there’s a lot more to life to enjoy than some good trades. Surround yourself with good people and spend some time creating something that will last. […]

]]> by: Administrator http://www.thestockbandit.net/2006/04/05/keep-rolling/#comment-67 Thu, 06 Apr 2006 21:46:39 +0000 http://www.thestockbandit.net/2006/04/05/keep-rolling/#comment-67 Hello Scott, Thank you for your comments. Interesting that you mention EQIX, we caught the last move in it which was nice http://www.thestockbandit.com/RecentPicks.htm. But I certainly agree, any trader cannot leave money in one place for very long and let it stagnate. I actually use my Swing Trading Strategy as a guideline for when to raise stops, you can find it at http://www.thestockbandit.com/Swing-Trading-Strategy.htm. As far as a time stop, I don't have a rule of thumb other than if a stock isn't moving higher after breakout out of a base with the market posting gains, I lose interest in the trade quickly and ready to shift into something that CAN move for me. Probably 90% of my trades last under 2 weeks, so if I'm still in a position by then, if it isn't really showing me something, then I'm happy to book whatever gains I have and move on to something else. Hope this helps, thanks for your comments. Jeff Hello Scott,

Thank you for your comments. Interesting that you mention EQIX, we caught the last move in it which was nice http://www.thestockbandit.com/RecentPicks.htm. But I certainly agree, any trader cannot leave money in one place for very long and let it stagnate. I actually use my Swing Trading Strategy as a guideline for when to raise stops, you can find it at http://www.thestockbandit.com/Swing-Trading-Strategy.htm.

As far as a time stop, I don’t have a rule of thumb other than if a stock isn’t moving higher after breakout out of a base with the market posting gains, I lose interest in the trade quickly and ready to shift into something that CAN move for me. Probably 90% of my trades last under 2 weeks, so if I’m still in a position by then, if it isn’t really showing me something, then I’m happy to book whatever gains I have and move on to something else.

Hope this helps, thanks for your comments.

Jeff

]]> by: Scott http://www.thestockbandit.net/2006/04/05/keep-rolling/#comment-66 Thu, 06 Apr 2006 21:18:49 +0000 http://www.thestockbandit.net/2006/04/05/keep-rolling/#comment-66 This cuts both ways. I go back and forth on this one. Take a look at EQIX. It showed up in my scans around Jan. 23. It triggered at around 46 and then went no where for about 2 weeks. It tried to shake everyone out the second week of Feb. Those who were bored by then no doubt were clad to get stopped out around 44 -- or, if they tightened their stops, maybe with a small gain at 47 or 48. By the time this was all done, nearly 4 weeks had passed. Of course, we know how this story ends. From there, it marched upwards over the remainder of Feb. and March, to top out at around 64. I realize you can't let your money sit for months going no where, but even 2 or 3 weeks is too long for many folks. In swing trading, these are the moves we love to catch. These are the moves we need to catch to make up for all the other little ones that go against us. What do you use to decide it's time to punch out, or tighten the stops? This cuts both ways. I go back and forth on this one.

Take a look at EQIX. It showed up in my scans around Jan. 23. It triggered at around 46 and then went no where for about 2 weeks. It tried to shake everyone out the second week of Feb. Those who were bored by then no doubt were clad to get stopped out around 44 — or, if they tightened their stops, maybe with a small gain at 47 or 48. By the time this was all done, nearly 4 weeks had passed.

Of course, we know how this story ends. From there, it marched upwards over the remainder of Feb. and March, to top out at around 64.

I realize you can’t let your money sit for months going no where, but even 2 or 3 weeks is too long for many folks. In swing trading, these are the moves we love to catch. These are the moves we need to catch to make up for all the other little ones that go against us.

What do you use to decide it’s time to punch out, or tighten the stops?

]]>