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No After the Open video today due to time constraints. Evening video will be early today...
No After the Open video today due to time constraints. Evening video will be early today...
Pre-market Up: CHK, FTI NUE, EQT, KORS, INCY, KEY, DVN, EOG,
SLB
Pre-market Down: TIF, M, IRM, NVDA, EXR, AMD, MO, WU, CCI, KO,
CCL, FCX, LEG, DLR, XEL, MRK, COH, MU, EMN, GRMN, GILD, ABC, CHTR, MSI, XL,
PKG, AIG, WD, AA
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2 comments:
Dave:
Another great session last night, thanks for what you do.
I think most traders greatest struggle with how to protect yourself from turning a Winning Trade into a Big Looser.
I actually had a long Call trade on KO as a great example. I entered a 17 NOV 46 Call on a Bull Flag on 8/31 at a cost of $0.61/contract, On the evening of 9/11 I raised my stop to $46.25. Last night I looked and had a profit of 103% considering raising the stop to $46.45 but did not. This was placed as an intermediate term with trade the November expiration giving myself plenty of room, .When I calculated the stop for last night, it would have been at $46.25 which was only $0.02 above the support at the BO level. I didn’t want to get stopped out and watch it go back up. This was very close to the daily low. I could get out and immediately enter a new trade, but I didn’t follow your advice.
Luckily, I was partially protected from the previous day's raised stop, and when I turned my head this morning, it stopped out today with a 80% profit. I started the day watching and was first thinking the downside was barely over the dividend, no big deal. Even though I didn’t take full advantage of your daily focus, the process still worked well.
ALL I CAN SAY IS EVERYONE SHOULD PAY ATTENTION TO DAVE'S COMMENTS. THEY WORK OVER AND OVER AGAIN.
Dave: As previously said...Incredibly good advice. Thank you!!
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