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Sunday, May 16, 2010
AR is $0.40 so 1/3 is $0.13
THIS TRADE is a CASE STUDY ONLY
Monday, May 17, 2010
Trade filled as per plan
Market has not touched 50% stops as per plan at $23.30
Wednesday, May 19, 2010
Market action hit 50% todayt and stops moved to entry minus commission calculated as 4 cents round trip (you need to calculate your own level based on entry price and commission charges.)
This trade already sits a more than 2 to 1 reward vs Risk so realising some profit may be pertinent and trailing remainder of stops according to stock style.
Todays price action closed on its low on higher volume, the price action seems weak to the upside.
Friday, May 21, 2010
Hi All
The Dow Jones Market is down close to 400 points over night and will likely add a pleasant extra profit to this trade.
The plan was to EXIT and 75% of the A to B range this will likely be a gap down this morning. You could leave orders on and be stopped out around this mornings open.
If you have the ability to manage this trade on the open it may pay to cancel stops and watch the open as it may be possible to extract some profit potentially to the 100% level at $19.65.
These are nice problems to have in trading, suffice to say you should still be looking to exit today as per your plan unless you make an adjustment to it ie splitting positions ie selling half the position and managing the other half further?
Personal choice, its been a nice week in the market
Friday, May 21, 2010
We saw ANZ open past the 75% level and trade lower for a short period and then traded strongly higher on investors and traders buying on hope of a bounce.
There is still a good suggestion that more downside is in order but potentially some up movement is required to balance out this market.
We will record the open of this mornings market as the exit, as discussed you may have split your position and that is a good strategy but that cannot be recorded through the recording function of this site.
We will continue to watch this market unfold for future setups.
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