Hi, these are just ideas not recommendations, sometimes I trade my ideas, sometimes I don’t.
Always remember, yours is the responsibility for your trades,
Good luck,
Erick



Sunday, May 20, 2018

The perks of being a short term trader


In my last post on April 25th I mentioned being long WEC because it was “accumulating”, this is what happened the following days.

WEC broke in an uptrend that took it past my 63.5 target to a close of 63.71 3 days later.  Of course I took my 1% plus profit.
Then WEC “distributed” for five more days, still plenty of time to take profits.





After that this happened with WEC stock, it went down and now is trading below my entry point. Now, being a great company, WEC will start at some time going up again, but before that, if I had not take my profits,  I would be looking for some time at losses in my brokerage account, and that is really a loss of confidence factor for a trader.




But that was then and this is now

Remember your technical analysis 101, the phases, accumulation, distribution etc., sometimes distribution is not followed by a decline, instead we thought it was distribution but really it was a new accumulation phase, well, right now for the past 4 days the market is either accumulating or distributing, who is to know?, the important thing is to react when we know.



For that I have two ideas that can be either accumulating or distributing, look for the breaks and act accordingly.






Thanks God for all the blessings
Shalom all,

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About Me

I am a civil engineer who likes charts, to me, speculating in the markets is both a hobby and a second profession and in my view the stock market is the most honest environment, since it is only your knowledge and preparation that matters. I live, and work in the construction industry, in the Dominican Republic. I read and answer all my mail so please feel free to write sternloinaz@gmail.com Thanks, Erick