Sargeant, I haven't broken any of my trading rules, nor rationalised a position in hope, nor do I trade emotionally. I trade weekly charts not intraday and the next morning of a stop being hit is within acceptable tolerence for my positions. Yes $12 is likely to break tommorrow and I'll pay more, but it may not and it was prudent not to exit at the day's high just under resistance.
CEOChair, I'm a trader not a guru. That means accepting losses as part of the game. I know the win-Loss ratio and profit:loss ratios for my trading methodology and the probability is that I'll win the war with consistent long-term profits, I don't need to win every battle.
I suggest to you though that the markets are a pretty humbling place. I'd be careful of crowing every time world events conspire to save your ass from a fall in the stock and leave you thinking you’re a genius.
MMM, yes I understand the risks and $12 may be smashed tomorrow. That will be as it may, but at least it will be a clear break up. I just wasn’t going to sell at $11.98 cents or similar at the day’s high right under support.
NCM Price at posting:
$11.99 Sentiment: Hold Disclosure: Held
