eelfland
Here we go again. I seem to continue to disappoint you with my SWVC play. Some how you feel I'm breaking my own rules when I post about what I'm doing there.
Again I'll say I have not broken one rule to date. And have followed my trading plan every step. Don't remember the subject of your last problem but this one has 2 answers.
1. I had a small position at 2 cents average, after 3 steps in on the second loss there. Didn't take my normal position size because it had no chart pattern, only the TA said ok to re enter at the time.
This one had a double or 50% loss, as targets. It hit 1 cent and I sold. Followed rules.
2. Averaging down in a stock you feel will turn from a continuing walk down bottom, is not a good trade. I have posted about this before. The numbers show you can re-coop more quicker, buy taking a loss, & re entering lower, before a expected turn.
So I watched the trading; saw the 10 mil AH trade and figured the accumulation was done and bottom reached. Also posted I was watching for 2 days without million share block trades to signal accumulation stop.
Well the million share blocks stopped for 2 days during the M&M down trend line/support line dance. And during each day I did what the big guy was doing. Bought back in in 3 steps. During the M&M take downs and before their EOD run ups. The spikes you see in the past 5 days were there for all traders to see. A pattern of manipulation which I took advantage of!
The result was a new position with more shares, at a lower re entry price then the loss was taken.
The post Insane_Vester linked to explains what I did. And he was correct. I am not holding a bag, I am making another trade play. You feel it's a continuing bag because it's in the same stock. Think of it as a different stock if you can.
But the new entry was not made on TA, was because of what I saw the big guys doing. I accumulated at new lows! That is not breaking any rule. I don't have a rule that says you MUST enter only on the 5,19,20MA line up or DMI/ADX up together signal.
So what we have with my SWVC play is 2 separate plays. Each made for different reasons. the first in 3 steps on TA signals which failed. And the second that was made in 3 steps for big guy signal reasons.
It just so happens that because they were both in the same stock. I conceder the second move as a capital preservation move. And again stuck by my don't average down rules.
And because I feel SWVC will run on a big guy profit run soon, I planned on re entering not averaging down. So taking a loss was based on the loss target being reached, but the re enter was for a new trade actually.
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