Amarin Corp Plc (AMRN)

[FlyFishingStocks]

My trade management strategy

I am committed to hold out for the interim results. If positive, we’ll see a large runaway gap.
From researching the price response of other binary event stocks, I have developed a profit exit strategy that will enable me to take nothing more and nothing less than what this stock is willing to give – whether it involves a go-it-alone or buyout scenario.

My plan:
1. Sell 50% on a close below the 21day EMA (post breakout).
2. Protect the other 50% with a stop loss just below the 50% Fib. retracement level (I will re-enter a half position on a successful reversal from this level)
3. Hold position until a lower high, lower low develops on a daily chart.
4. Place a hard stop below this point. Walk away. The work is finished.

Adhering to this plan in this way will allow me to execute my plan free from emotion.