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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
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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