Dont you just hate that?
- Thread starter evand
- Start date
Thanks Steve, that's what I was after.
So...Am I correct in saying that most traders would buy a parcel of shares, and then at the same time calculate the amount that they are willing to risk ie 3%, then set a sell trigger at this level. You then set a sell price that reflects your required return, which will lock in your profit should the stock reach that price.
You then sit back and relax and wait for the market to do it's thing?
Am I missing something?
Boods
So...Am I correct in saying that most traders would buy a parcel of shares, and then at the same time calculate the amount that they are willing to risk ie 3%, then set a sell trigger at this level. You then set a sell price that reflects your required return, which will lock in your profit should the stock reach that price.
You then sit back and relax and wait for the market to do it's thing?
Am I missing something?
Boods
Happy Monday all...
Just been following MCC again, it started off quite strong this morning before falling to less than it opened at!
Yes after getting shaken out last week at 9.06, i managed to pick up some more today 8.68. I just hope it bounces back again
Thanks Steve, that's what I was after.
So...Am I correct in saying that most traders would buy a parcel of shares, and then at the same time calculate the amount that they are willing to risk ie 3%, then set a sell trigger at this level. You then set a sell price that reflects your required return, which will lock in your profit should the stock reach that price.
You then sit back and relax and wait for the market to do it's thing?
Am I missing something?
Boods
He hee...by the looks of things most have gone away for the afternoon allowing the market to do it's thing....
Pretty much you seem to have a handle on things...but you need to read and understand CommSec's specifics when using these type of orders.....especially how long they remain an active order and when they can be purged etc....be careful...
I took profit on all but one stock (CPB) last week, which is slightly down.
Yesterday morning i drove up the coast at 7am and knew i was going to be gone all day so i put in 7 x buy orders before i left. Got back last night to see i was successful with 5.
The other 2 jumped in price from the open which means my buy orders weren't executed but might today as they are still in the buy list.
The market might have a bit of a dip this morning after the US had a slight negative night. We'll see, no biggie either way.
I'm back into MCC @ $8.89. If i was around to watch it, i could have bought in the $8.60's lile you Shuggy. Good price mate.
Anyway, i logged on last night and was in profit a few grand from the days buys doing ok during the day. (Mostly IRE) Easy money, i wasn't here.
Don't know if the profit taking will continue today. I think the market is getting skittish tho, so care is paramount. Set a tight stop loss and watch them like a hawk if you're trading. Or set your conditional trading triggers as has been discussed.
You'll gain on what you don't lose in this market, not only on what you profit on.
Edit: For the punters on here saying its all going to come from China. I think they are right.
If the US sneezes and we get a cold. I think China tells them to bend over and drop 'em. Or will soon.
http://www.dailytelegraph.com.au/ne...r-china-sell-off/story-e6freuyi-1225768173804
Yesterday morning i drove up the coast at 7am and knew i was going to be gone all day so i put in 7 x buy orders before i left. Got back last night to see i was successful with 5.
The other 2 jumped in price from the open which means my buy orders weren't executed but might today as they are still in the buy list.
The market might have a bit of a dip this morning after the US had a slight negative night. We'll see, no biggie either way.
I'm back into MCC @ $8.89. If i was around to watch it, i could have bought in the $8.60's lile you Shuggy. Good price mate.
Anyway, i logged on last night and was in profit a few grand from the days buys doing ok during the day. (Mostly IRE) Easy money, i wasn't here.
Don't know if the profit taking will continue today. I think the market is getting skittish tho, so care is paramount. Set a tight stop loss and watch them like a hawk if you're trading. Or set your conditional trading triggers as has been discussed.
You'll gain on what you don't lose in this market, not only on what you profit on.
Edit: For the punters on here saying its all going to come from China. I think they are right.
If the US sneezes and we get a cold. I think China tells them to bend over and drop 'em. Or will soon.
http://www.dailytelegraph.com.au/ne...r-china-sell-off/story-e6freuyi-1225768173804
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No, i always sit it out. Never catch a falling knife etc.
I have my position size for MCC and that's it.
I have my position size for MCC and that's it.
...and it's still falling...
Evan, does this mean that your stop loss would have striggered already this morning (you mentioned you bought at $8.89)
If people don't mind me asking, what are is your acceptable risk, ie how low do you set your stop loss? Is it a % or a monetary figure?
Boods
MCC is going out the back door! "Elvis has left the building"
I had a stop loss and removed it. Its the overall market that's the problem not the company. Its will bounce back when the market bounces back. I've seen it happen so many times.
That's why trading with healthy fundamental companies is a must.
Also, its a small % of my trading bank so i'm not worried to take a loss if i have to.
I look at the results over a month or year or whatever and a couple losses is no biggie.
I had a stop loss and removed it. Its the overall market that's the problem not the company. Its will bounce back when the market bounces back. I've seen it happen so many times.
That's why trading with healthy fundamental companies is a must.
Also, its a small % of my trading bank so i'm not worried to take a loss if i have to.
I look at the results over a month or year or whatever and a couple losses is no biggie.
Sometimes it's better to cover the downside first,then the upward trend will take care of itself,does not always work out like that you eitherMCC takes a dive again
Is it just a coincidence that this has happened on the back of a shocking night for the DOW?
I bought MCC for $8.26 yesterday, have put a sell order in for $8.81. Hoping for a recovery some time soon!
Boods
make 300%or end up 40% down on floating money..willair..
Steve,
Sad to say, but I did not put a stop loss in place. I have not really risked a lot on it though. The overall trend suggests an upward movement so am not that concerned at the moment. I'm putting it down to a bad night for the DOW (thanks for the tip Evan
). Also the short term and long term moving averages are suggesting an upward movement still, so fingers crossed.Boods
It will be fine Boods. As well as the DOW having a bad session overnight there was a sell off from MCC directors yesterday and while that's not a good sign. It will come back. You cant worry too much about the overall noise in the market.
As a trader, i'm prepared to be an investor as well. Hence - again- fundamentally very healthy stocks (is this getting boring? )
As a trader, i'm prepared to be an investor as well.
Hence - again- fundamentally very healthy stocks (is this getting boring? )Sometimes it's better to wait another day to buy in Boods.....maybe todays the day...? I think it will hit $7 yet....it's clearly dropped out of it's major trend channel so I don't really know where it will stop but maybe backfill that gap at around $7 before turning up again....
If ya miss it then big deal, but this (sell off) is long overdue in general...before it takes off again.....but usually a sell off takes more than just one day especially considering the massive gains put in the last few months....
I'm surprised Ev that you are not trading like your sig. suggests...contrary to what the market thinks....buy when they sell and sell when they are buying....?
What I do anyway....
MBN has bounced off that support channel line that many times now and has clearly jumped right up outta that flag as well...even staying above today in the big sell off....stop loss goes up to 2.75 so far today...just below the 50% retracement point of this latest range...and will track it tightly....got a target of $4.00...backfill that gap up there...
I may get stopped out at times but I'll be buying the trend line each time with stop loss pretty tight...
Then I might join you for a surf Ev...should be nice and warm by then
Of course all the above is NOT advice...just my personal opinion.
If ya miss it then big deal, but this (sell off) is long overdue in general...before it takes off again.....but usually a sell off takes more than just one day especially considering the massive gains put in the last few months....
I'm surprised Ev that you are not trading like your sig. suggests...contrary to what the market thinks....buy when they sell and sell when they are buying....?
What I do anyway....
MBN has bounced off that support channel line that many times now and has clearly jumped right up outta that flag as well...even staying above today in the big sell off....stop loss goes up to 2.75 so far today...just below the 50% retracement point of this latest range...and will track it tightly....got a target of $4.00...backfill that gap up there...
I may get stopped out at times but I'll be buying the trend line each time with stop loss pretty tight...
Then I might join you for a surf Ev...should be nice and warm by then
Of course all the above is NOT advice...just my personal opinion.
Hi, I'd been following MCC since you people talked about it. The fluctuations were irresistable so I played with it a bit yesterday. Bought 7.88 - 7.91 sold 8.01 holding 1250 shares @7.88
I took a look at the news & there's really nothing to account for a massive selldown apart from jittery nerves or it could have run up too much.
The change in directors holdings are the normal 10 thousand entitlement p.a.
I'll be watching it. I'd intended to buy Dominion but got sidetracked! Talk about not being emotionally involved!
You might want to look at the other thread about Korea's and Australia's weighting.
KY
I took a look at the news & there's really nothing to account for a massive selldown apart from jittery nerves or it could have run up too much.
The change in directors holdings are the normal 10 thousand entitlement p.a.
I'll be watching it. I'd intended to buy Dominion but got sidetracked! Talk about not being emotionally involved!
You might want to look at the other thread about Korea's and Australia's weighting.
KY
