Long Position in GILD After Bullish Bounce
About a week or so ago, I published an idea about GILD hitting some serious support levels going back to mid to late 2014 - 2015. What I thought back then was that if GILD were able to hold on to that support level, even bounce around it without falling below it, I would enter a position in my paper account at that support level, and place my stop below the support line. So, if my stop is triggered, it signals that my thesis was wrong, and perhaps that I should try it on the short side (still working with ways of changing direction on a time to profit even when my hypothesis is wrong.
Anyways, let's look at the trade. I risked 1.0% of my portfolio with a stop loss at $63. I didn't set any profit targets, and I think I'm going to keep not setting profit targets. The reason being is I want to make sure that I am being diligent in moving my stops with the direction of the trend (if I am right), and let the profit take care of itself.
Trying to stay discipled in capital risk management, and I am getting more confident with it.
All the best,
RC
Anyways, let's look at the trade. I risked 1.0% of my portfolio with a stop loss at $63. I didn't set any profit targets, and I think I'm going to keep not setting profit targets. The reason being is I want to make sure that I am being diligent in moving my stops with the direction of the trend (if I am right), and let the profit take care of itself.
Trying to stay discipled in capital risk management, and I am getting more confident with it.
All the best,
RC
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