I bought this put on 3/26 for $7.40. My original exit level for a loss was set to $27.80, but I had lowered it to $27.15 as the resistance level went lower. Today it crossed up above that and triggered my exit order.
This position was up to $120 profitable at one point, but the recent upturn in the market cause this ETF to also go back up. There wasn’t anything I can see that I should have done differently on this trade.
I bought this put on 4/4 for $8.60. It went up as high as $10.50 before the stock started to shoot up and finally broke through my loss exit level of $28.75 today. The stock actually traded as high as $29.58 today.
The unfortunate thing about this trade is that I had recognized that there was a potential support level at around $23.75, but decided to leave my original exit orders in place. It turns out that was about a $500 mistake.
I bought this put on 4/22 for $9.80. The put was actually doing nicely as of yesterday, but today the stock surged up over $4.00 at one point. It reached a high of $49.24, which took out my loss exit level of $48.70.
This stock has been in a downtrend since last May, and I traded an earlier bounce off a resistance level earlier this year. Since then, it has broken the trendline it was using as support, and is now using that line as a resistance level.
The stock has come up to this line again and bounced down, with confirmation from the MACD and stochastics. The stock actually closed the day up $0.09, but it was down by about $0.10 when I entered the position.
The stock is currently at $46.50. Support is around $38.15 and resistance is around $47.25.
My exit orders are:
This trade actually happened yesterday.
I bought this put on 4/8 for $5.40. My exit price for a loss was set to $32.15. Yesterday, the stock went up as high as $32.73 and took out my exit order. It has sinced bounced back down off the higher resistance level, but I was trying to trade the earlier bounce which did not pan out.
This trade actually happened yesterday.
I bought this put on 4/7 for $9.50. My exit price for a loss was set to $27.75, which the stock took out yesterday. It turns out that since I was using the 200-day moving average as the exit point, I should have set my exit a little bit higher. Today, the stock fell back down by over a dollar.
I bought this call on 3/25 for $8.80. My original exit price was $48.50 based on the uptrending resistance level I had identified originally. However, I later saw that the stock had also encountered a horizontal resistance level around $47, so I lowered my profit target to 3% below that, which was $45.80. Today, the stock crossed above that and triggered my exit order.
I had originally intended to test out my plan of selling the at-the-money call the day before earnings with this position, but I think I prefer just getting out with a profit. I do have another position, TRN, which has earnings coming out soon, so I may end up testing it out on that instead.
I bought this put on 3/27 for $8.20.
My original profit target based on the supporting trendline I had drawn was to get out if the stock traded below $18.75. However, after the stock dropped as low as $19.19 on 4/4 and then started to recover, I noticed that there was actually a much stronger supporting trendline slightly higher up (see updated figure below).
I updated my proft target to $19.25, but at that point I figured I had missed my chance to exit profitably because it had already made that move and was starting to move back up. Luckily, the market gave me a second chance today when the stock went down as low as $19.24 and I was able to get out today for only about $20 less than I would have if I had exited on 4/4. One thing I am happy about is that I didn’t panic and sell manually when the stock had gone up a bit last week.
Another positive thing is that I went back and reviewed the trendlines on my other positions and found that a couple of those needed to be updated too. Luckly, I found those before I missed a potential profitable exit opportunity.
This stock has been in a downtrend since May 2007. It was using a trendline as support until November when it broke below it and it now appears to be a resistance level. The stock has come back up to the line and bounced down. The MACD and stochastics also give a confirmation because they are both high and starting to head down.
The stock is currently at $29.90, and it was at $29.95 when I entered the trade. Support is currently around $26.60 and resistance is around $31.25. Coincidentally, the 200-day moving average is also almost exactly at the same resistance level, so this is also a bounce down off the 200 DMA.
My exit orders are:
This stock has been in a downtrend since mid 2006, with a more tightly contained downtrend that started in March 2007. It has been mostly bouncing between a pair of trendlines, with one break out to the downside in January. It has now come up to the resistance level and bounced down. The MACD and stochastics both provide confirmation because they are both at a high point and turning back down.
The stock is currently at $25.79, though it was at $26.07 when I got in. Support is currently around $21.10 and resistance is around $26.20. The 200-day moving average is also very close overhead at $27.69, so I’m actually using that as my exit point.
My exit orders are:
