While the Diary of a Mad Hedge Fund Trader focuses on investment over a one week to six-month time frame, Mad Day Trader, provided by Jim Parker, will exploit money-making opportunities over a brief ten minute to three day window. It is ideally suited for day traders, but can also be used by long-term investors to improve market timing for entry and exit points.
Presently we have a 540 Stop on Close for the remainder of our Long AAPL.
I’m moving this stop back to the original entry level of 520 on the last buys.
This order will be a stop on close.
AAPL has to close below 520 to sell the remaing Long position.
The next couple of days could prove to be volatile.
I want to have plenty of scope on this trade so I’m not in and out.
We’re seeing many Instruments hit short term tgt levels and then go into profit taking mode as others catch a bid.
Such is the nature of stock rotation.
You need to find a willing dance partner.
For Glossary of terms and abbreviations click here.