d27283
19 posts
msg #63410
- Ignore d27283 |
6/5/2008 9:13:13 PM
It's tough getting started. I've been allowed $500.00 to begin to build our fortune. Using some moving averages I identified a stock(LSCC@3.77).
I had to go to work (the whole work thing is begining to cramp my style) so I set a trailing stop at 4%. The stock made it to $4 but my stop loss order went off at 3.80. Good news----I made money Bad news ----not enough to pay for the round trip.
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chetron
2,817 posts
msg #63412
- Ignore chetron |
6/5/2008 10:01:09 PM
since your original plan was to exit if the ma(3) crosses below ma(13), why not set your stop loss each night at the value of the ma(13).
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d27283
19 posts
msg #63413
- Ignore d27283 |
6/5/2008 10:36:46 PM
That was my first trade and I happened to be home on a sick day. I was watching the chart and next thing I know it stops moving. After closing all my programs down and restarting to repair the clitch I noticed that what happened was the market closed...haha. It sounds so simple now that you point it out but at the time I was just sort of stunned, like the deer and the headlights and all that. So next time I'll all find the value of MA13 and set a stop loss accordingly. Hey Chetron how about an entery point that occurs late in the day? Would there be more, as they say " on the table " for the next day? Sadly I'm going to have to get this down to where I can set it up the night before and check it when I get home. I do have a phone(Blackjack) with internet. Once again thanks for taking an interest, you are very kind.
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chetron
2,817 posts
msg #63426
- Ignore chetron |
6/6/2008 8:03:46 AM
actually, if you entry is at the ma(13) your stop loss should be 10% to give your stock room to move. once you have a profit, move it up to the ma(13).
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