Big Wave Trading incorporates a Mechanical Disciplined Signal Generated System and uses a Market Model system to invest profitably in the stock and futures markets. Big Wave Trading also incorporates a strict risk management system and cuts losses immediately if a new purchase does not work in our favored direction right away.
Friday, April 15, 2005
Learning a valuable lesson AGAIN
USG OI UGI I recommended these a couple days of go and had to cut all losses according to my rules. But I learned a valuable lesson a breakout on news in a bear market is not a good position to take. This has happened to me before and I still keep falling for this. Maybe now I have learned my lesson. In a bull market the news usually still moves a breakout. Example of breakout on heavy volume yesterday that i mentioned MAIN. Huge volume move for no reason. And if you think the news of their upcoming earnings call caused the volume surge. ERR you are wrong. Look at the move today. +4.6%.
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