There are reasons for me (and certain other traders not exiting A2M yesterday):
1. Exits when needed are almost always made on the following trading day. This allows time to review the chart after 7pm when my software data downloads.
2. The written trading plan may not yet call for an exit. A2M may have had to drop further in order for an exit to be taken.
3. This is the more discretionary side of trading: open profits may be sufficiently large that the trader is in no hurry to exit. Someone who bought A2M back when it was around $2 would not be easily shaken by yesterday's fall.
Take an extreme example where a trader took out a long CFD on BTC back when it was trading around AU $500. You would now be letting the extreme profits ride, with perhaps quickly checking BTC once a week. You wouldn't be counting coin, otherwise you would be a nervous wreck from being scared it could be taken away!
4. In the recently cited example of the QAN (Qantas) large intraday fall of 5.55% on Oct 27, it quickly recovered. A2M like QAN has the backing of widely separated short and longer-term moving averages headed up. These are the standout features of extremely profitable traders such as Dan Zanger, Mark Minervini, David Ryan, et al.
5. Most often taking notice of advice on HC will lead a trader to the poor house. The trading plan takes precedence over HC transient noise.
I may add that soon may be a time to gradually scale out of A2M by banking partial profits while the trend appears to be in an advanced stage.
(ACX_ALQ_ALU_ASL_A2M_BAL_BKL_BSL_BUB_CWY_EHE_EVN_ILU_SDF)
DON'T GO h00ts, page-28
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Last
$5.74 |
Change
0.040(0.70%) |
Mkt cap ! $4.149B |
Open | High | Low | Value | Volume |
$5.71 | $5.74 | $5.55 | $29.35M | 5.184M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 22 | $5.68 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$5.74 | 55601 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 22 | 5.680 |
1 | 482 | 5.670 |
1 | 352 | 5.650 |
3 | 8016 | 5.640 |
3 | 32034 | 5.630 |
Price($) | Vol. | No. |
---|---|---|
5.740 | 16601 | 4 |
5.750 | 47132 | 9 |
5.760 | 33436 | 5 |
5.770 | 13582 | 1 |
5.790 | 13582 | 1 |
Last trade - 16.10pm 20/08/2024 (20 minute delay) ? |
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