Wyckoff Wave Technometer has returned to overbought, so we want to enter a few short positions….
Wyckoff Wave Technometer is now over 50 so we want to enter a few shorts.
Sell short SPY for Model ETF Portfolio at the market, Current Price: $215.88
Sell short ORCL for Model Stock Portfolio at the market, Current Price: $39.55
Sell short GE for Model Stock Portfolio at the market, Current Price: $29.62
Hi Guys I started with your service ProTrader Membership a few days ago. Looking at your latest rec I am wondering that you are not operating with stop orders at the time of entering the trade. Isn’t this contrary to Wyckoff’s idea ?
Related to that, what would be the related stop-orders (were do I find them?) with the short-trades SPY,ORCL,GE and Long-Trade GDX,AEM? Thanks for your reply. Roger
Hello Roger, I do normally place stops on positions when I enter, but if I am really busy trying to enter positions I might wait to place exact stop, or I might be waiting to pick exact point I want to place stop after I see a little more price action. I am constantly monitoring positions so I would always come on line and email update if I see a move near/through a stop level that I am watching. I understand that this might not be best if you are not monitoring emails and want to have stop already placed so as to not have to monitor, or be worried.
I also normally have mental stops entered on my “MODEL PORTFOLIO” tab. Currently I was using stops: GE $31, ORCL $40.06, AEM $40, SPY $218.31, GDX $20.13.
Sorry for any confusion. I will try to give more exact figures on emails, versus posting to the Model Portfolio area.
Hi Todd Thanks a lot. I appreciate. Best Roger