A better day
I can't complain about a day where the averages are down but I'm up a percent. I played everything as planned today and it worked well for me.
One of the reasons that I am fully invested now is this chart. If you ask me (I know you didn't, but it's my blog dang it) things have bottomed out. I think there is opportunity for some gains right now, so I'm taking it.
I'm struggling with what to do with NGS tomorrow. My volatility stop system says it's time to sell. It's made 20% since I bought it and it looks like it's still trending up (it gained 4% today). The MACD just went positive and the chart looks good. I think I might follow it with a tighter stop because I don't think I can pull the trigger on it yet.
I'm starting to record my gains and losses as "R" (risk) multiples and that has really helped take the emotion out of my trading. So far I haven't had any huge R gainers (like Ugly), but I'm starting to get the hang of this whole risk management thing, I think.
Posts
1 comment:
Hey Scott,
Well now you're going to have to share how you're doing the risk management thing...can't wait for the post on that...It's an area I can definitely learn from.
I like the tighter stop idea on NGS...wish I'd held it myself from a week ago...dumb...but the tighter stop will protect you going into tomorrow's jobs number...I'm reading it will be bad and the market might sell off quite a bit on the news...I'm hedging my longs with some SKF, FXP, SRS, and QID.
Matt
Post a Comment