Trade Review EWJ 3/23/2011 | Bulls on Wall Street

Trade Review EWJ 3/23/2011

 

this trade explains the parabolic bounce setup I use.  Its specifically used for bottom fishing stocks that have fallen greatly.  One of the greatest truest things in the stock market that will always be around is men and women trying to find cheap deals.  Automatically something falls 10-20-30% they think its a deal.  You can go broke like that.  A stock that falls 10% how do you know that it wont fall 50% where is the bottom. Ive seen dozens of people get nailed like that.  But on the other side 99% of real traders will tell you not to try to catch bottoms. Not to bottom fish.  dont fight the trend etc.  That is true in a way but there is a way to catch bottoms.  There is an art to it that if you apply it you can actually take an ugly chart/and setup and make it a low risk high probability scenario for yourself.  I made good money on this trade selling my last shares in the 10.5s from 9.3 buy.  doesnt seem like much but i had 5 cents risk on the trade!

 

My trade on the japan etf EWJ is a good example!

 

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