Nothing revolutionary here today, just an algo call on a stock that has been a solid performer for me historically.
The rationale:
--In a trading range longer term, but a short/medium term uptrend
--right at short term support level
--1313-1* W/L record with my algo (the 1 being 2 days ago and still would be open)
--Avg. gain per trade is just over 2%
---Avg daily return is about 2.5x that of stocks in general, long term
Initial entry was at 305.70. Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
The rationale:
--In a trading range longer term, but a short/medium term uptrend
--right at short term support level
--1313-1* W/L record with my algo (the 1 being 2 days ago and still would be open)
--Avg. gain per trade is just over 2%
---Avg daily return is about 2.5x that of stocks in general, long term
Initial entry was at 305.70. Per my usual strategy, I'll add to my position at the close on any day it still rates as a “buy” and I will use FPC (first profitable close) to exit any lot on the day it closes at any profit.
As always - this is intended as "edutainment" and my perspective on what I am or would be doing, not a recommendation for you to buy or sell. Act accordingly and invest at your own risk. DYOR and only make investments that make good financial sense for you in your current situation.
Note
Even though it was up 0.02% today, I am violating my FPC rule. When it's that close to break even at the close, you never know if it will end up + or - when the moment happens and I didn't want to have to re-enter after hours if it closed down because spreads are way too wide then. If it goes up a bunch after hours, I'll sell it, but I doubt that will happen. If it opens higher by a decent amount tomorrow, I'll sell it then. If it's down again tomorrow, I likely will not add, since technically I should be out of the trade already. If that happens, I'll manage the trade using another little trick I've developed. Hopefully that won't be the case. A strong open tomorrow would be preferable so I can get that capital back to work as soon as possible.Trade closed: target reached
I'm updating this now so I don't forget to later. I sold at 307.85 at the open today for a 0.70% gain in 2 trading days to close out the trade..Note
Trade stats for my recordsWins 1 Losses 0
Avg gain / lot = 0.70%
Avg hold periods / lot = 2 days
Avg gain / lot/ day = 0.35%
Annualized RoR = 0.35% x 252 = +88%
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.