Too right mate,
I work on a 30% take profit, and try to keep my position open for less than 3 days. BHP will most likely reach for the bottom of the channel now but I'm out, I don't mind, my target was overshot by 20% so its not going to bother me.
Its very easy to hit 30% profits on these type of stocks in just 1 day, when the conditions are right and you have the right trading tool be it options warrants or cfd's.
Another thing I might add, when using these types of strategies make sure you make your analysis at the end of the day or at least after lunch and place your trade at the end of the day.
Thats when the pro's do their trading and sometimes by waiting til the end of the day you can catch a change in sentiment that might just change your mind about your analysis.
Geeze there were some good set ups yesterday wasn't there Monotaur.
bhp, rio and ncm put warrants, page-4
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Last
$42.78 |
Change
0.030(0.07%) |
Mkt cap ! $216.9B | |||
| Open | High | Low | Value | Volume |
| $42.92 | $43.08 | $42.62 | $778.2M | 18.12M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $42.77 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $42.81 | 119112 | 3 |
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| Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
| BHP (ASX) Chart |