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Progressive PGR Stock

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  • Progressive PGR Stock

    I bought PGR this week on 10/30/2018

    I bought it for a swing trade around 3pm. Always buy swing trades towards the end of the day to ensure the day is truly an up day.

    The overall market was nearing an area of obvious resistance on the daily charts and PGR was starting to drop. Rather than hold on through a drop I sold the entire position on 11/1/2018 at a little over breakeven.

    If you don't feel comfortable in a stock (gut feel) cut the line and walk away. You can ALWAYS get back in. Preserving Capital > Growing Capital

    The next morning stock futures were way up so I entered a pre-market limit order to get right back into PGR.

    There are no cut and dry solutions on Wall Street. This trade was the first that I handled in that manner but it showed my willingness to adapt and move like water. Water is liquid both literally and figuratively. It can fit into anywhere.

    In hindsight, I should have held the position into the dip and rode the recovery of that dip but hindsight isn't always 20/20.

    Even the stock market veterans have shaky weeks. It's all part of the game. Keep your wits about you and happy trading.

    Here's what the chart looks like before taking profits...will update once the trade is finished.






    My re-entry position was bought at 8:21 am. I hoped to get in a little closer to my original entry price but I was in and that's all that matters.

    Re-entry price: $70 even

    Just two hours into the open PGR dropped like a rock. The stock has major support under from the 50 day moving average






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    "Step into the arena and hold on to your hat. Don't get discouraged if you don't make 8 trillion dollars in your first month. Trading is not a get rich quick scheme. Realize that trading is a skill and just like any other skill it takes time to learn. Have convictions in your decisions in life and trading. Ignore the comments and "advice" of those that have never traded a day in their life."


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    Disclaimer: This website provides information about the stock market and other investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for informational purposes only. The Author of this website is not a registered investment advisor and does not offer investment advice. You, the reader, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment.

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  • #2
    Out of PGR @ $72

    3% gain

    Notes:

    Always stick to your guns on any stock you buy

    Best Stock Picking Services

    Sign up for the forum to reply to this post!!!


    Best FOREX Signals Software

    Stock Market Investing For Beginners

    Facebook Group
    StockTwits Room


    "Step into the arena and hold on to your hat. Don't get discouraged if you don't make 8 trillion dollars in your first month. Trading is not a get rich quick scheme. Realize that trading is a skill and just like any other skill it takes time to learn. Have convictions in your decisions in life and trading. Ignore the comments and "advice" of those that have never traded a day in their life."


    Terms Of Service

    Disclaimer: This website provides information about the stock market and other investments. This website does not provide investment advice and should not be used as a replacement for investment advice from a qualified professional. This website is for informational purposes only. The Author of this website is not a registered investment advisor and does not offer investment advice. You, the reader, bear responsibility for your own investment decisions and should seek the advice of a qualified securities professional before making any investment.

    Promoted content: You should assume that this website has an affiliate relationship and/or another material connection to the persons or businesses mentioned in or linked to from this website and may receive commissions from purchases you make on subsequent websites. Always exercise due diligence before purchasing any product or service. This website contains advertisements.

    Comment


    • #3
      You make it look easy!!!

      I've always had trouble buying those high riser stocks. It just feels like you'll end up holding the bag.

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      • #4
        Originally posted by Chang View Post
        You make it look easy!!!

        I've always had trouble buying those high riser stocks. It just feels like you'll end up holding the bag.
        That sounds more like the concern of an investor. It's understandable but as a trader, I have no problem buying extended stock. There's really no "holding the bag" when trading. If it isn't going your way you would bail. Investors by definition have to hold on.

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        • #5
          PGR was one of my plays this week. Bought it on oversold prices monday

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