Receive all the latest news from Wyckoff Analytics! Weekly notifications about upcoming events, as well as market updates, newly posted articles and videos, delivered straight to your inbox.
Wyckoff Analytics is committed to protecting your privacy. We do not sell, lease or otherwise provide your personal information to anyone, ever. You can unsubscribe at any time from this list.
The trade began well:
My mistake was in trade management. The initial move after the late March reversal had strong momentum. Eleven straight up days before the first reaction. I sold on day six. This is why I will always use mechanical trailing stops in the future.
Momentum moves like the early April rally in this stock almost always continue AFTER the FIRST reaction, albeit with less momentum. Selling even during the initial reaction in mid-April, if I had let the stock get that far, would have been selling too early. Wait for momentum to dissipate before selling, in conjunction with awareness of potential targets (where institutional buying or selling was previously present).
I am not afraid of making mistakes. Everybody does it. I will take the lessons learned and improve my future trading results.
Trade with (not against) institutions!
|