Right Side of the Chart

...because anything to the left is history

Trading Tips

Various tips and ideas for regarding trading and investing such as placing orders, using stops, etc… These tips are included within the content of the posts listed below.

Nov 132015

The FL (Foot Locker) Active Short Trade has now hit the first target for a gain of 11.8% in just over 2 weeks from entry. Consider booking partial or full profits and/or lowering stops, depending on your trading plan.

FL daily Nov 13th

FL daily Nov 13th

Trading Tip: Yesterday in the Trading Room, I had posted that upon further review of the charts, I believed that FL would likely exceed the first target, likely moving down to at least the 57.70 area and as such, that I was considering lowering price target or trailing stops to allow my profits to run (T2 remains the final target at this time). With the broad markets confirming my bearish analysis today, I just set a trailing stop 50¢ above the current price of 58.80. That will assure that, worst case scenario, I get filled at my original first profit target (T1 at 59.30) if the stock reverses from here while also allowing my profits to build, should the stock continue lower.

The only way that strategy could backfire would be if I decide to let the position ride beyond the close today, thereby risking the possibility of an opening gap that could trigger my trailing stop-loss order above the 59.30 level. As such, I will make a decision before the close to either close the trade at or just above the 57.70 support level or let the FL short continue to ride as a longer-term swing trade down to the T2 level (51.60). However, I just wanted to impress the benefit of using trailing stops and/or lowering your stops to protect profits once an initial profit target is reached if you believe that the trade may continue to run in your favor.

 November 13, 2015 10:15 am  Active Trades - Short, Completed Trades - Short, Trading Tips Tagged with:  No Responses »
Oct 092015

I was just asked the following questions & figured that my response was worth sharing: Q: What’s your opinion on trading VIX? I’m looking at TVIX, which is 2x VIX, currently pretty low at $8.30s. I was wondering if it follows the same charting principles and indicators [continue reading…]

 October 9, 2015 10:54 am  Equity Market Analysis, Trading Tips Tagged with: , , ,  Comments Off on Trading The VIX
Sep 212015

The stock market continues to grind within a choppy trading range for nearly a month now. As with most sideways trading ranges/consolidation periods, the longer they last, the more powerful the ensuing trend will be once prices clearly break out above or below the range. [continue reading…]

 September 21, 2015 1:49 pm  Equity Market Analysis, Trading Tips Comments Off on Cognitive Biases That Effect Your Trading Performance
Aug 262015

Investing.com has a pretty slick app available for phones & tablets. I find it particularly useful to quickly glance stock, currency & commodity futures in the evening after I’ve shut down the PC or in the morning before I boot up (or when out of [continue reading…]

 August 26, 2015 9:41 am  Trading Tips Comments Off on Useful Trading & Investing App
Apr 212015

As was mentioned on Thursday, after PWE (Penn West Petroleum Ltd) hit the final swing target for a very quick 31% gain, an “unofficial” pullback trade idea was posted here on Twitter shortly afterwards. The purpose of this update is two-fold: 1) T3 was the [continue reading…]

 April 21, 2015 2:58 pm  Long-Term Trades- Completed, Trading Tips Tagged with:  Comments Off on PWE Pullback Target Hit, Uptrend Line Support Not Far Below