Stop Loss: $50
Frame of Mind: Neutral.
Trying out the reverse of my counter-trending strategy today. On the way home yesterday I was thinking what if I reversed my counter-trending strategy before. I would lose a lot of days, around $50-$100 a day, but I would blow up on the upside, making $300 or more a day.
I shorted JPM starting with 100sh, starting at 46.65, adding another 100sh at .57, adding another 200sh at .50 culminating at 400sh.
I was going to cut my position at 46.64, where the 1EMA21 was, true enough it hit it, then was slammed down to .50. I had cut at exactly the pullback high.