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Originally Posted by ChiliConCarnage
Did you sell? It definitely ran into earnings despite market choppiness. You're probably up 9-10 bucks/share if still holding.
I'd love for Tencent to keep dropping. Keeping my eye on that
They're supposed to IPO tencent music later this year
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Got in at $173 for 58 shares. Put a stop loss at $176 after a few days but that was unlikely to hit based on earnings speculation, it was just a precaution on my part.
Up 9% in a week on this.
I think it pushes near $200 shortly but I'll probably set my stop loss at $180 now and still lock in some profit if it turns. If it pushes over $190 for a few days, I will change that stop loss to $184 or so. It's been known to be very volatile and shift without notice especially around earnings reports.
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Originally Posted by Hog's Gone Fishin
Have you come to a formula for where to set your stop loss? I've learned setting them too tight they get triggered and then the stock rebounds after and you end up losing the gain for the day.
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I try to set them the morning of, after reading futures reports. Usually about 3-4% lower than previous days close, or I widen that gap if I've already made profit and think it will go higher. I'm using it more as a safety net to not have a drastic drop in the $10k I am playing with on these swing purchases. It's better to make a few hundred dollars profit (up 1-3%) than to get greedy attempting for more and losing hundreds of dollars on a quick swing.
My goal with this is generating a few hundred dollars a week swing trading different ETFs or individual stocks. This could also include something like SDOW (inverse) if futures and market outlook predicts sudden drops and trends.