SSRX moved up 17% this morning – I took the out on this one. Don’t worry about providing feedback for this stock.

I didn’t have the opportunity to post additional numbers for my trade with JASO yesterday, but this is how I look:

Buy Price: $44.23
Initial Stop Loss (Under 15% Gain): 5% or $42.02
[Anything over 15% gain, I begin using the Retracement Stop Model you have presented so that my stop begins to move with me and give a little room for the stock to work]
Target Price: $60.00
Risk Per Share:$2.21
Profit Per Share:$15.77
Target [R]7.13:1

At Current Price Gain: $56.06 (at close on 10/26)
Risk Per Share: $2.21
Profit Per Share (Current):5.35
[R]5.35:1 (Current)

To share my progress with trading, after months of taking whatever I could get – usually 12-15% gains (I would sell often for no good reason – operating more on fears that I rather take something than nothing). I am now focusing for the gains of 20-30% and trying to tell myself DO NOT sell if I don’t have a reason to sell. I finally had to shut off the stupid CNBC crap about 2 months ago – they kept me a mess mentally as I listened to what *they* thought the market was going to do. Want an example?

I am on my 6th time of holding EDU this year – if I could have just held my initial buy earlier this year at $39.98 – I would have been up 112% on that trade alone. But my confidence was rocked with that correction in March (a newbie in the market for 3 days and then SMACK!) and any other time something happened in the market – I just sell off with fear, though I didn’t have any violations.

I feel that I am getting more confident with my system and am relaxing a little – it just takes time to settle into it. Your instruction & advice has helped me accomplish much of that this year. Thanks!

I went with a $2.21 risk per share since things were a little rough a few weeks ago. My R on the trade is currently at 5.62:1 ratio and could easily realize a 7:1 near $60.00. I knew the gamble was buying in (way) before the confirmation of a break through the pivot. I took the risk and was able to grab more reward. With JASO heading for the $60 range – you think this one will also make a run to the $60-$100 theory?

One more thing – what is your outlook for SSRX? – I am down on that one right now and am about to cut this one loose, but I am not ready to ditch quite yet as it looks like it may try to hold the $16 zone and re-attempt a build from there. Thoughts?

Thanks,
Steven Mac

Steven,
That is fine as long as you understand the trade’s risk/reward. It paid off in this situation. Waht was the risk?

What is you R value on the trade? Looks to me to be at a least 4R or 4-to-1 trade.

However, either way has paid off!

I made a No-No with JASO by accepting the risk with a purchase of the stock nearly 3 weeks ago before the pivot point was realized. I decided the risk-to-reward would be worth it using a tight stop in case. I am currently up 29.19% with my retracement stop now at 21%. I started taking interest since your covering in previous postings with this one. Thanks!

Also Long on RIO & SNCR

Don’t give your good work Chris! I am reading you everyday

Now just repeat a couple hundred times and you can retire!