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Strategies & Market Trends : Timing the Trade the Wyckoff Way
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To: cere0003 who wrote (13713)4/22/2015 7:09:11 PM
From: Steve from CA  Read Replies (1) of 14340
 
Hi Kevin. Did some post-trade analysis, and it's sobering. 4 trades.

I joined in late January and my first NGI was #13 R. Bought it very near the LP and it sold off about 10% over the next 3 days. Stop hit and out. OK, move on.

Same day bought #12 I. Bought 5% above LP. Was doing nicely then got slammed with a 9% drop in 1 day. Panicked and sold intraday.

Now, if I had bought closer to the LP I could have withstood the drop. MY FAULT.

2/11 bought #3 T. Bought well above the LP, because I wasn't a member at that time and thought I was being smart buying near the 50 day line @ 26.50. The next week it dropped 16% in one day. Had I bought near the LP I could have withstood the drop. MY FAULT.

Lastly, 2/18 bought #5 N. Paid 10% above LP. Got slammed a couple weeks later with a 10% one day drop. Had I bought near the LP I wouldn't have been stopped out. Once again, MY FAULT.

Had I bought near the LP's, I would be sitting on nice profits in all 3 of those. AAAARGH!
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