I have received questions why I do not enter my orders before market open.
I think it is not good idea to enter orders premarket. I try to explain why.
What is your experience and your stock trading strategy for stock orders? Let me know….
Time during next week till the end of year will be quiet on stock markets. And it is good time to look to own trading statistics in stock trading journal.
It is good to check what was your trading this year. What did you do well as a trader ? And what did you bad ? What do you need to improve ?
I have one tip what to do during this free time. I plan to check my stop loss placement and trailing stop strategy.
Have you ever tested if your stop loss placement is done correctly ? What method of trailing stop do you use ? There is good tool which can help you test several different approaches to using stop losses in your trading.
This tool is Stop Analysis Center.
This tool is incorporated on Stocktickr web page (it is great online stock trading journal). I use this journal for my trading. I am going to use this stop analysis center to see how to improve my stop loss usage in my trading.
Have a nice Christmas time
OSIP did nice move yesterday. And formed bullish pennant chart pattern on hourly chart and so possible continuation move up can happen today.
I entered OSIP swing long trade yesterday, but in case of breakout of mentioned bullish pattern I plan to add to trade. I also want to enter stock position trade in OSIP with targets around 50.
Todd asked me about bearish chart pattern on LOW. Stock is in downtrend. Now it is in major support area between 24 and 26 USD (see monthly chart) . Downtrendline and declining 20 and 50EMAs are pushing price down. There is really good possibility for breakdown.
So aggressive traders could enter short immediately under 24.68 with stop above 25.48 with expectations of further decline, breakdown and then strong move to 20USD area.
Or it can be shorted after breakdown 23.825.
I added YHOO into my watch list as it is again above 200MA.
It approached resistance zone in 32 - 34 USD area. If it will be able to breakout it , then target between 40 - 44 USD could be reached very quickly.
P.S. STX broke resistance on Friday with above average volume. I entered long trade.
Good day today. BRCM trade is in nice profit, 2/3 of position is already taken as it is near my target under 40. Stop for rest moved to 38.90. I am waiting if rest will be able to break above 40 and produce more profit. Next significant resistance is around 44. I also entered BRCM into my position portfolio today with this target.
ETR is only second swing trade I have opened now. Stop is also in profit level (around 113).
