SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Trade What You See, Not What You Think
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: KM who wrote (26)10/15/2000 12:03:53 PM
From: Threei   of 867
 
KM,

That's a tough concept for some people (me too in the beginning) - to say, "I bought XYZ at 30, sold at 32 - now you want me to buy it again at 34?" but each trade has to be viewed as a "new" trade with new history, etc., agree?

I do agree with it. Ideal mindset for me in this regards is:
I remember what happened before in order to gauge following activity with more accuracy, but I do not allow emotions to impact next trading decision. Let me elaborate on it a little.
In the example I set those were two different setups and they were to be treated separately. While stock was trading in a range I was scalping it within a range. When stock showed signs of breakout I bought new high. Usually it goes like this:
ABCD went from 19 to 20 1/2 and pulled back to 20. I bought 20 1/16 on signs of bottoming and sold 20 7/16 if stock has paused there. It made a couple movements within this range bottoming at 20 3/16 and 5/16. I consider it to be "mini-trend" within a range - sign of underlying strength and breakout upcoming. Now I am willing to buy 20 9/16 or 5/8 if stock goes through 1/2 barrier with conviction.

It does take guts initially to buy higher than where you sold... then it becomes routine: see setup, take the trade.

Vadym
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News