Saturday, August 25, 2012

One of my current postions

On the 23rd of August and also via Ibankcoin, I purchased CTRP. Once again, they are in and out and I'm still holding the bag. I do have rules, I just do not always follow them and sometimes my emotion override common sense based on all that I have read in books and on the Internet. On this transaction the only mistake that I feel that I made was being late into the trade. The second mistake I might make and based on the stock movment Friday, is moving that stoploss in pretty tight. I guess I would be more tolerant this time if I had entered on the breakout day between $14.92 and $15.43. I on the otherhand got in at $16.31, really small position and then again same day, at $16.71. So my stoploss is tight. Currently in the money with a 3% gain. 



If your reading this for the first time and are even thinking about getting in, I would wait. I would wait for another pivot low and I would not purchase above $17.48 until we have that lower pivot. Right now it looks like there is more of a chance of profit taking, than another surge up.

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