On another post, I mentioned my two biggest shortcomings as a trader...Both cost me money...
1)Not always selling when stock moves 3% below my entry price...
2)Not always setting protective stops to guard against large losses...
Amazing when you know what is right but don't always followthrough...
KERA mezmorized me with its pattern..I like Head and Shoulder Bottoms...This one is such a pattern..Likewise, once a neckline is broken and holds, you have powerful upmove potential...The pattern on KERA is 5 by 10.62......A 6 month target of 15.62 a share with stopping points at 11.50 and 13.67 along the way...ADX has been moving up from 14,15,18...Getting close to my early 20's in ADX, where I love to buy a stock, the birth of a trend...
Again, How often Mark, do I have to talk to you and tell you this....
When you break rules, YOU GET HURT......
I gambled on the neckline being taken out and lost...A pro trader would have waited for 10.62 on bid before entering this stock, or would have taken the ride from lower levels to the neckline and then sell, as many did yesterday....
I did not do my overhead study on this stock...There is a HUGE OVERHANG at 10.62....Unless volume picks up significantly, it will not be taken out and this stock will meander in the 9.00-10.62 area for the forseeable future...I probably shouldn't tell you this, since I am slitting my own throat...But unless I come down hard on myself, I will never learn....Regards, Mark |
