Breakout Play 5: $NOW
This is how it looked like when I bought it. My exit price/trailing stop is the 0.236 Fibonacci retracement level. Everytime it hits a new high, I would simply move the end of the Fibonacci retracement to the new high. And this is how it looked like when I sold it. I immediately sold the moment it dropped below the 0.236 Fibonacci retracement level. I sold around 12 because the price action was too fast. It's a hell of a drop, I can say. Remarks... January and February were the month of telcos. Many have said it was a gold rush. Ms. Market was very generous at that time, giving free money to newbies and pros alike. But I wouldn't call it a gold rush or any positive label. I call it the open season. It is the time when newbies are about to be slaughtered. Why? you ask. It is because of how they handle their emotions. Most newbies refused to adapt themselves to their environment, instead, they adapted their environment to suit them. The most common thing the...
