Several Oil and Gas names (HAL, CLB, SLB) had very bullish sessions yesterday, and I think there is still opportunity for some “pin action” in other names in the same sector, and for us to determine leaders and laggards in the group to determine which picks are best in a momentum environment vs. a value environment. (more…)
CHTR momentum trade, long
I am relatively new to trading, so please be patient. I have been trying to develop a swing trading system and I am fairly comfortable with my stock choices and entry strategy. Still tossing around some ideas for my exit. I am looking for modest gains (3 – 5%) vs. home runs. I would like to keep my average trade to about 3 days. I have a full time job, so I can only place orders in the evening for the next day. I enter a stock a little above the previous day high (long) or low (short). Currently, my profit target is based on quadrant lines/levels (similar to fib retracement levels) which give me between a 3 to 5% profit. I use a trailing stop, but still working on where to put it. My initial stop is 2%, which I never waiver on. Usually put in two positions, one long and one short. If the long fills but not the short, then the next day I will put in a short order. As the chart shows this is a momentum trade as I trade on increased volume. Along with my entry order, I put in my initial stop loss order (2%). If I have the stock the next day then I bracket my order with a stop loss and target (limit) order. My trading is all technical. I don’t use or really know very much about fundamental trading. I am also putting in a short (NDSN), but not as confident about that trade and I didn’t want to post more than one trade for my first time. Thanks in advance for your patience. These are not original strategies (as most of you probably know). I have read from many sources and watched a lot of youtube videos. I have tried to put them together in a way that makes me most comfortable.
