$60 Degrees Pharmaceuticals (SXTP.US)$ hey guys, I've just s...
$60 Degrees Pharmaceuticals (SXTP.US)$ hey guys, I've just sold my shares at good price.i knew the price would go down, so I did not wait for higher price and I sold them immediately at the highest price 😀 look at the photo you will see the s stands for sell 😀 . if the price goes lower, I may buy again.
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Studied psychology at Curtin University, Jazz dancer, political & business analyst, author. fb: Isabel Los
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RobertW : if you don't mind my asking did you scale into your position and what kinda size were you in with?
Jazz Dancer OP RobertW : Sorry, what does "scale into your position and what kinda size were you in with?’’ mean? Can you please specify your question? I'm still a new stock trader so if you talk about terminology of stock trading I won't understand.
RobertW : lol, no worries. I'm kind of new myself. So scaling into a position is where you're kind of cautious about the stock You are wanting to trade, but you still want to get in so maybe you jump in with 10 shares right, and the stock price starts moving up and you see that it has good momentum on the upward trend so you add another 10 or 20 shares to your position until you reach a Max number of shares you are comfortable having. That is what scaling is. Size just refers to how many shares you have in your position on a certain stock.
Jazz Dancer OP RobertW : How many shares I buy depends on how many people are buying the stock. I would only add if there are many people buying the stock. If the price drops and not many people buy it, I won’t add it, because sometimes, when the price goes down, people lose more if the add more. If I bought a bad stock that is falling. I will sell it immediately, so the strategy of adding shares to lower the original price is not my first choice, and it does not work for stocks that are falling.
RobertW : oh no, I think you may have misunderstood me. when I scale into a position, it's only after the technical analysis that I've done is showing signs of the stock going up, as well as the visual indicators that the stock is going up. based on relative volume as well as free float I will determine whether or not to you buy a stock in the first place, then I will purchase 10 shares of that stock on either a micro pullback or a small lull. if the vwap is holding and the stock is moving up then I will scale in another 10 shares. and so on as long as the stock is moving up. if the stock starts a dissension process and that dissension reaches 10% of the last candlestick that it made I will sell my shares because that's showing signs of weakness and instability. I completely agree with you though with your method.
FattyChick RobertW : In summary, just thank me for giving a good entry point.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
RobertW : lol thanks Jazz.
So if you don't mind me asking, how long have you been trading?
RobertW : Sorry Thanks FC
Jazz Dancer OP RobertW : Sorry for replying to your message so late as I went to bed, and we have a 12 hour time difference, the opening hours at 9:30am is our 9:30pm our bedtimes. Thank you very much for your explanation, this is the first time I hear someone like you using these methods as I am a very new trader, I have only been trading stocks for about three months so I didn't know much about these methods. I use what I learned from psychology to do this trade, so my approach is really different, but some of my methods may be similar to yours! I may ask you how to use these methods later!
RobertW : No worries! where ya from Jazz? 9 hr. difference? Are you in the UK by chance? I've got a really good friend in the UK.
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