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Trade Management

USDCAD continues upward march - how to manage your tradeI wanted to share this trade idea because its a great example of how to manage your trades once the market moves in your favor. Notice that since I got in a big hurry to get in this trade, my entry, while decent, could have been much better. If I had just waited a few more days with a nice limit order sitting on the red sliding parallel, then I would have had an outstanding entry location with an extremely small stop. Well...make a better plan next time and deal with this trade now. Now that we have formed a nice new swing low as price is climbing upward, I can move my stop upwards to the red line at 1.0905. When another swing low forms and its confirmed by taking out highs, I will move my stop up again below that. I'm also working my profit target order upwards along the upper channel as price moves to the right on the chart. Some basic info on making your trading plan and sticking to it: www.itradingforex.com
Long
by iTradingForex
3
SLB sentiment changing to bearishDuring this recent move up in S&P (100 handles from the last bottom) Oil&Gas ($XOP) stayed one of the weakest sectors and specifically shares of Slumberger. After exhausted move up on the end of June, it entered into correction and broke down its 50 EMA that was in control since the beginning of 2014. Now, sellers keep preassure and hold resistance at $110 which could be stop line for short position. My approach is active trade management. Initiate tier 1 now, then add on break down of $107.50 gap point, then add if it will close and hold below $105.39 with target at $102 - reasonable level, earlier it acted like resistance and now should act like support.
NYSE:SLBShort
by andrew.berg
NTAP showing relative strength above important levelNetApp holds well above broken resistance level at $38. This is very important level as it is in play since March. We had some clues before break up as buyers managed to build series of higher lows with recent bottom at $36. Below this, idea will loose its luster. As broad market entered into corrective phase, i like how this specifique stock showing us relative strength and wedging above important level. Sector of Data Storage devices also keeps its buying momentum ($WDC, $STX, $VMW). Use your trade and risk management rules to keep odds on your side and control risk the same time. I am tier 1 here, add tier 2 if market will find its footing, add tier 3 on break og wedge. If it will go through $39, it will open doors to $41.
NASDAQ:NTAPLong
by andrew.berg
TDC found strong support and looks ready to goTeraData has been hot stock during 2010-2012, then it lost its luster after soften in margins. But in terms of net profit and total revenues it is showing us solid numbers. Stock found strong support at $39-$40. Looks like funds accumulate this stock during last three quarters. Yesterday, it gave us Day #1 (broke of flag and trend line). If the next days it will hold 1/3-1/2 of its range and will go through pivot high $43.65 then it will open doors to upper resistance at $49. With stop below $41.70 (bottom of flag) and more strategical $40 makes this trade acceptable from R/R point of view. Company will release its earnings on 7th of August before market opens.
NYSE:TDCLong
by andrew.berg
FOE major supportFerro Corp is sitting on its major support showing us relative strength, while SPY broke down its intermidiate trend with big, ignited candle. I will be watching for stocks that show us resilience during this corrective phase, as we remain in macro trend. If indexes will find its footing, then we can see an upward move in this stock with resonable risk/reward and high probability of winning. Trade management is the key. Tier 1 here, close to support. Add when market conditions will be favorable and stock will go through $12.80ish with potential to $13.90ish resistance, then we have $15.
FLong
by andrew.berg
USDCHF Bear Bat Follow UpFollowing up on an idea that I posted last week. The USDCHF is now at a point where traders who are aggressive with their risk management can look to roll and trails tops with structure (on the 4hr TF) One of the most important lessons that I've learned over the years from my personal trading and from my time as a money manger, is that how you manage a trade once you're in it, is almost as important as finding the right entry. The key to success is CONSERVATION OF CAPITAL. We are going to be wrong in this industry and wrong alot. The key is to learn to tell when we are wrong and cut our losses before they get us in trouble.
Short
by Akil_Stokes
6
PM tight pattern gives calculated entry After V-shape move off the bottom on February, stock formed double top at $91.62 and sold off from there with two gap downs (means strength of sellers). I will us gap pivot point as stop/ Until it stays below $87, I am bearish. Price is below key moving averages. You can manage this trade in different ways I use active trade management. Enter with tier1 in this tight pattern, add tier2 and tier3 if it breaks down and close below $83.83. My road map is move to $79.
NYSE:PMShort
by andrew.berg