GREY:FTPLF - Post by User
Comment by
OptsyEagleon Mar 02, 2011 12:51pm
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Post# 18219716
RE: Unbelievable
RE: UnbelievableSo this is all your fault? Just kidding.
In my opinion, you do have the wrong trading strategy. You need to be able to ride these downdrafts out, or even better, be able to add to your position opportunistically.
In a stock like FTP, you have to know a lot of momentum players are going to be attracted. These guys know nothing about the stocks they buy and because of this, almost always use stop losses. During these times, one stop loss market sale pushes the stock into the next guys stop loss and by noon or 1:00 pm you have yourself a pretty good pull back. Usually the institutions will come in during the afternoon to take the money from these guys. I have been known to participate in this feeding frency as well.
Anyway, if your portfolio can't handle a move like we have had over the last week or so, you probably either need a new strategy or perhaps should look at ETFs or mutual funds. You won't be able to make money in individual stocks. That is my opinion, anyways. Good luck to you in whatever you do.