Canopy Growth Corp T.WEED

NOTE TO SELF

[goldman777]

How to trade your way out of a position.

I`m sure I`m not alone on this one, whoever says they get it right everytime is a liar - plain and simple.

Original "fair sized "position @ 55 cent average
Watching it languish for the past week or so
Growing a little impatient ( possibly your own worse enemy )
Nice pop to 70 cents and quick to pull a swing trade and book profits
Just knowing it will revert to ...maybe 60 cents and rebuy a larger position
Keeps going to 87 cents and all I can say is fooke
Quick to jump back in for a smaller position when it receeds to 80 cents
Now back to 75 cents

So now I need 2 x 10% trade to get back to where I was before my venture into the abyss

Maybe not so easy to pull off with the volatility in this sector

I suppose it could be worse, lot`s of guys banging their heads who were selling in the low 50 cent range.

Moral of the story....

Revisit your original thesis for getting on board and work on the discipline end of your trading.

The flip side is, no body knows what will happen next and my original reasoning for the attempt at the swing was based on T.A., which if a guy can bat 7 out of 10 on, he`s doing pretty good. This is how I got to where I was before giving some back.

Can`t win them all and no doubt there will be another kick at the can.

I`m sure I`m not alone - This is what it`s all about !

GLTA

[quinlash]

What you are venturing into is called "Dollar Cost Average Trading".  It's mostly focused on partial buys going in and partial sell orders going out.  Your task is to set the buy and sell targets and determine what sharecount you wish to hold at what "Dollar Cost Average Per Share".  One very simple example of this is selling 1/2 of your shares once you are

[goldman777]

Thanks for the insights quinlash, I`m actually pretty good at itthe old fashioned way - pen and a peice of paper. I always sell 1/2 my position on the double and like you said - remove all risk and let the balance ride for free. That being said I haven`t had that priviledge for a while now. Following this logic an investor can build an entire portfolio of risk free investments. The trick is to

[quinlash]

You're welcome, it's actually a nice change to have a decent back and forth about investment stategies on a forum.   One other little tip / trick I use is to always try and have "something for sale".  When I am not sure as to what price I should use I just max out a Limit Order to however high my bank will let me set the order for and leave it open for a couple of

[peppesilver57]

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[goldman777]

I usually do the same for the disposable portion of any given holding. Set the ask a fair bit above the current bid and always hit the max time frame to leave it open. Sometimes you lose but most times you win....feeds my addictive nature either way and gives me that sense of controlling my own destiny - whether it be good or bad.