Are there any recommended methods on averaging down? A % of open loss? Support/Resistance on a chart? What do you use / is there a system or art to doing this? Thanks!
No sorry I can't help you with math or charts. I'm sure someone else here can. I just know if GM is long on a trade, expect to have cash on hand to buy more when it drops. GM has been so consistent that I have been doing well by averaging down and then watching the trade like a hawk when it creeps back to positive and selling when I see resistance. That hasn't made me the most profit possible, but I also haven't lost once so it's definitely working for me.
Still have a small loss. Going to hold through the day maybe get to break even. Thanks for the responses back Lions. Big shout out GM for being a fearless leader of the pride
Greg, your website at traderschoice.net seems to be down right now
True. I just checked and it's down.
I am not upset about our eBay trade. I've been averaging down since we got in @ 5.5ish and now I'm down to 3.9. I'm still excited for it
Are there any recommended methods on averaging down? A % of open loss? Support/Resistance on a chart? What do you use / is there a system or art to doing this? Thanks!
A general rule of thumb is to add at -30%, -50%, and -80%. I very rarely add beyond -30% myself. It's entirely up to your risk tolerance.
Thanks for the ideas!
No sorry I can't help you with math or charts. I'm sure someone else here can. I just know if GM is long on a trade, expect to have cash on hand to buy more when it drops. GM has been so consistent that I have been doing well by averaging down and then watching the trade like a hawk when it creeps back to positive and selling when I see resistance. That hasn't made me the most profit possible, but I also haven't lost once so it's definitely working for me.
Consistent profits even if small add up!
Big print on the tape just now also
Nice little break out starting right now?
Yes, though it pulled off of the high. Still hoping it goes up.
It sure is, and I Hope it keeps moving on up!!!
Thanks for the update GM xx
Anyone still holding the VISA trade. Any opinion on holding 195 Jan152021 calls. Keep or dump. Love for a Lion opinion
It's been stuck in range for the last 3 months. If it can break out above 202.37, you can probably squeeze some profit out of it.
I'm still holding V. Stock is up today. My position is showing a small lost. Option expires Jan 15 so no worries.
I sure hope you're right. I'm showing a little more than a small loss.
I sold it around this range, you're up right now so its up to you
Still have a small loss. Going to hold through the day maybe get to break even. Thanks for the responses back Lions. Big shout out GM for being a fearless leader of the pride
Thanks for the update, G! Any thoughts on GILD?
Thanks Greg, I added to my call positions yesterday so it should pay off before long.