Time for another foray. I think NCP has fallen enough to jump back in.
Nice profit for two weeks holding. For those who don’t want to work it out it is 6.48% before commissions.
I’ve been trading NCPDP and other stuff without much success over the last month (nor keeping a diary). I return to a stock I think I know something about. But my position size is scaled back to $10,000.
Glad to be out with a tiny profit. It will probably jump up a bit, but the trend is down.
It seemed too cheap.
Back from holidays and NCP is down again. So like a moth to flame I jump back in.
On holidays in Queensland and having a losing open position is stressing me. Sell so I can at least enjoy my holiday. Plus I can return and trade without waiting for my stocks to recover.
Stop loss set at $1.00. Had to learn that lesson sometime.
NCP opened at 15.00 so I placed the order. I am worried that if it hits 14.90 it will keep falling as a key support will be breached. But I’m testing a system and I’ll be in meetings most of the day. Here goes.
Ouch! NCP opens low at 15.14 and trades lower spending most of the day below 15.00. The strategy calls for buying more stock if it drops another 2.5% to 14.90 which it nearly did. NCP closes at 15.04.