Xring01
Well-Known Member
- Joined
- Feb 25, 2017
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I tried your strategy yesterday. Bought a 25% position @ 58.25 , but got sidetracked to the lake and missed the drop. Got out at $59.25, which turns out to be too early.
I am glad you made a buck.... literally... obviously per share.. but it beats the hell out of losing a buck.
But you kinda missed the entire aspect of a swing trade...
There are alot of different types of swing trades...
I do my best to focus swing trading on company's that I feel are on a steady upwards trend.. that are typically making news cycles frequently, and in sectors that are doing well. But I do make exceptions to this, and I adjust my risk accordingly.
Since stocks tend to have charts that look like sign waves. I do my best to get in on lower portion of the sign wave, and sell on the higher portion of the sign wave.
So, my swing trade idea of DKNG was to get in at $58 area, and hopefully get out in the upper $60's, maybe even mid $70's area.... based on the technical analysis of the chart, that I posted, earlier in this thread...
For now, I am happy with my position on DKNG, and I am holding it for now.... if my analysis is correct, it swings upwards, and I start cashing out as it goes up in price. When I feel its "over extended" or over priced, then I will sell off of it, and get back in on the next pull back... rinse and repeat, as long as I can.