I am not quiting just yet, but I will have less and less time to trade. Hence, I will focus on building my long term portfolio.
Don't miss the boat. I am talking about LDK. If I bought at 30, have I missed the boat? What boat are people talking about here? I am not at break even yet !!!
Today I made fun of beanie for shorting FSLR. Actually, I was not better because I had shorted MA. I tried to force the trade because I had made a nice profit from the short position from the prior day. I was lucky and I was greedy.
Risk versus reward. Why would you make a trade if the reward was is not greater than the risk? Why would you make a trade if you don't know where the exit point is?
Today I bought FSLR at 196 with a stop loss at 193. I was willing to take a 3 pts loss on the trade. Yet, when FSLR ran to 197, I sold because I was nervous. Does that make sense to you? I was willing to take a 3 pts loss for a 1 pt profit? Now what kind of idiot would make that kind of trade. DON'T ANSWER THAT !!!
Have a strategy and stick to the strategy. I know I have said this over and over many times. Still emotions just get in the way some times.
Here is the chart for FSLR. I use 4ema, 8ema, 21sma. When 4ema and 8ema cross above 21sma. then it is time to buy.
I posted buy at 196 and had no reasons to sell until 4ema and 8ema cross below 21ema.
The 5 minute charts give you a smoother chart and less noise.
See the first hand where MACD cross above? Then the second hand where ema cross above as well. See the slope started to turn from negative to positive?
Thursday, March 13, 2008
Posted by Unknown at 8:40 PM