Despite its call letters NFG was anything but "No Fucking Good". It was a stellar performer.I was late to this trade but shorted it at the top after it put in massive volume.
and covered it down here.
After playing the SVNT pop and shorting the pullback, I went long again right after and got stopped out when it fizzled. I thought to myself if I was the ones that wanted to acquire this stock I'd wait until the markets were going down in order to disguise my buying(if that was the reason for the big pop earlier). So I waited. When the markets did a feeble pop then moved down SVNT popped up. AH ha!Soon a nice little trend developed
SVNT exit
5 comments:
Unreal. Thanks for posting.
Just curious - how often do you find yourself consciously thinking in terms of the other side of the trade - or other traders?
Your SVNT trade was pure adrenaline lol. I have no idea how you got that timing in - did you place limit orders on that one?
Oh - and one more question - do you find breakouts being more reliable at certain times of the day? For that matter, do you change your entry strategy depending on the time of day?
Thanks!
DTF- all the time. It is reading the crowd mentality that brings success.I try to be as close as possible to the powers that are moving things, that way I am ahead of the crowd.
SVNT first popped up and as I remember displayed a few moments , 10 seconds or so, of calmness before they lit the rocket engine. after it went vertical it was just a question of, "I'm taking that profit pop now 'cause I'd be stupid not to" and threw in a market order.
Breakout during the dead zone, 9:30-11 an PST are generally less reliable but you must be ready for anything to happen at anytime.
Thanks for that insight!
Trying to think about ways to weed out some of my non-movers and fine tune the probable. Do you tend to consider prior price action - as in same day or prior day moves before entering a position? I know you have mentioned something along those lines a few times (e.g., the NFG entry on Friday). This would make sense - just wondering about the kinds of questions you ask yourself.
dtf- for sure I keep some of the days or previous days movers in th eback of my mind if not on a watch list.
the hitting new highs/low tick then tells me when they are back in play. most of the time i will set an alert a bit under the high or low and so if that goes off i get a jump on the possibility of it going to new highs /lows. so i will have already decided if the stock reaches this point I will get in most times, even more so if the markets are in sync. things will get swept along in the current so to speak.
i view that hitting new highs/lows ticker as my invaluable realtime indicator friend. something this simple shows me what is moving now, what is breaking out now, what has power behind it. I don't about news or why a stock is moving - ultimately it is moving to new highs or lows because more shares are being exchanged in those direction. end of story.
now then my job becomes one of applying my system to capture this movement. when it stops moving or has really run away, i need to recognize this fact and end the trade. this is where concentration, focus,no opinions of where a stock can go, cutting the losers, riding the winners, getting in the flow, positive thinking, confidence, listening to mood music, working with the markets and my personality and not against them come into play.
all these factors are inextricably intertwined.
Post a Comment