spunkyblonde
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i found a freind has the steve nison book ..he has had it 4 a long time ..i didnt relize how good the book was till you mentioned it thanks again des ..regards sally
liamfitz said:HEY EDDY HOW DID YOU DO WITH THAT VERISON TRADE ?
ddunne82 said:Des,
Doing a really nice job with your videos and explanations mate. At the moment, I only trade index and currency futures with intra-day mechanical set-up but am looking at starting to expand into individual stocks. Got a few questions for you:
1) Do you liquidate all your position in a stock the day before it announces quarterly/semi/annual earnings?
2) Do you only look at stocks on the IBD 100 and if the stock then 'loses' its place in the next list, do you liquidate or do you make a judgement call on how the individual stock is looking in the chart - i guess its fairly self-fullfilling as if it still looks good on the chart, its not likely to lose its place in the list is it?
3) When you enter a trade, is the stop loss placed at the previous days low or again is it more of a discretionary decision?
Thanks
David
des44 said:Hey David,
1) Do you liquidate all your position in a stock the day before it announces quarterly/semi/annual earnings? I find it better to actually tighten my stop-loss on the stock. In this case I am still in it if it still has legs to head north. By just selling the day before, which many people do (and I applaud), they have no chance at benefiting from the 20% of stocks that shoot up after an earnings date. I am willing to chance a small part of my profits in hopes that it will gain me additional profits.
roguetrader said:Hi des, isn't there a reasonable risk that your stock will miss badly and or guide badly and blow right through your stop out of hours to open significantly below. I would have thought that a stock that had run nicely would breed much higher public expectation and therefore fall all the harder, (been there in a former life ) You could unload a significant proportion of your position truely locking in the profit you had made while still holding a percentage for that trip to orbit should it come..
In truth I am more curious why you don't do this, than actually offering a suggestion, as you seem to be an accomplished trader and I'm sure you have a great reason for the way you do it. Just explaining it like a suggestion better illustates what I am getting at......I hope. :cheesy:
eddyjo said:Hi Des, And how about the great country of WALES?
des44 said:Would you trade this stock?
Does CTSH meet all of your requirements to enter it long?