Well Traders, today I was hit with not one, but TWO news items that doomed me. The first was on HANS. You remember yesterday when I got stopped out (I would have closed the trade anyway since it was the second consecutive day below my trend line), well today, GREAT NEWS for HANS! Anheuseur Busch decides they are gonna team up with HANS and distribute the Monster drink wherever AB sells its beer. WHAMMO, the stock skyrockets to over $3 at one point! Just my luck...a day late and a dollar short. Oh well, I traded my plan, and those are the breaks.Take a look!
Today on ANDE I got stopped out. Funny, I bought the stock on the breakout on anticipated better than expected earnings released by the company, then earnings comes today (which beat the street estimates) and WHAMMO, the stock plummets over $3!Take another look!
It just wasn't my week, but that is okay. I had my plans set up correctly, cleared them with the hotline coaches and traded my plan. It didn't work out the way I hoped, but the law of averages will catch up to me and the trades I play well will more than compensate the trades that didn't pan out. The losses from each trade was less than 1% of my portfolio so it wasn't a big hit. That's called "managing your risk."Next week should bring new opportunities to trade and make money. Have a great weekend!Happy Trading!
Well Traders, sometimes you win, sometimes you lose...or as they say in the market, "Sometimes you eat the Bear, sometimes the Bear eats you."
HANS was a bounce play that I felt could have made a good move, unfortunately it did not go as planned. I was stopped out at my stop loss for less than a 1% loss of my portfolio which is good money management. I would have closed the trade at the end of today even if I didn't get stopped out because the stock would have traded two consecutive days below my trendlines and that is one of my exit rules.Plenty of things on the horizon to make money on!Happy Trading!
It just wasn't my week, but that is okay. I had my plans set up correctly, cleared them with the hotline coaches and traded my plan. It didn't work out the way I hoped, but the law of averages will catch up to me and the trades I play well will more than compensate the trades that didn't pan out. The losses from each trade was less than 1% of my portfolio so it wasn't a big hit. That's called "managing your risk."
