Menu Close

Clarification for managing trades

QuestionsCategory: QuestionsClarification for managing trades
Nate asked 6 years ago
  • Background: I do go to work from 2:00 AM till 11:00 AM ET. (I am in a different time zone)
  • That makes it difficult for me to trade the open. 
  • I still would like to buy the greatest stocks with longest bases that setup quite nicely. 
  • That's why i am thinking of doing the following (Stock MEDP - Cup with handle setup): 
  • Example Setup Buy Stop Limit order:
  • 50% purchase order stop buy - 61.98 with limit 62.08
  • 30% purchase order stop buy - 62.50 with limit 62.60
  • 20% purchase order stop buy - 63.00 with limit 63.10
          All three orders would have a 8% trailing stop attached to them and once i am home late in the afternoon i can start manually managing the trade if needed. After the initial purchase i start tracking the stock day by day for clues and track it's price volume characteristics. Please advise me if you notice any problem with the above approach or you have any suggestion on how to improve it. Thanks a lot.    Nate
1 Answers
Avatar photoOwen Staff answered 6 years ago

Hi Naiden,
Video from Pat:
https://youtu.be/j2pmMIVDcO4