Think Complete Trade | stockbee


Think Complete Trade

Think complete trade (Reproduced from members site)

Get in to the habit of thinking through complete trade. If you buy this what is your stop. What is your target. What is your risk reward. How much should you risk. When will you know it is failed trade.
Anyone can enter a trade but thinking through full trade before entry is critical.
And it is one of the reason you should not chase tips. Because you don't know how to handle that trade after entry.
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Pete said...

Excellent advice Pradeep. I like the price pattern, the three week pullback/flag, and December momentum impressive. But volume in flag didn't dry up enough in my opinion, though it was less vs. volume in December runup. Though the price bar today finished strong and broke the top downtrend line of flag, the volume was pathetic, lowest up volume day in over a year I think. If I had been watching it maybe a small one third sized position today would have been fine to try and front run anticipated patten breakout, but this pattern setup to me looks like one where a trader should really wait for breakout of flag's high. Thanks for letting me nitpick and play devil's advocate.

Pete said...

Sorry, I looked at my Telechart and had not updated anytime near the close, thus the inaccurate comment about up volume today being lowest in over a year for CFR. Please disregard previous entire comment. Sorry for miscue Pradeep on my part.