05/09/14 – Since placing the trailing stop for this Bank of America trade, it hasn’t really made any head way and would leave me no increase in adjustment next week as this weeks low is very close to the existing trailing stop. Also my EXK-NYSE is not looking good at this moment and may stop out today giving a 1% loss on my trading account balance. With these two factors in mind I have decided to Time Stop this Bank of America trade and take 1.1% profit on my trading account balance. I still have other Trailing time stops in place and also need to consider those the end of the week. Chart as Below
02/09/14 – This Long trade on the Bank of America has been on for some 14 bars (weeks) and seems to have massive resistance around the 16.00 price. In line with my trade management strategy I have considered time stopping this trade, but have decided on a Trailing Time stop similar to my CRM-NYSE trade. The Trailing Time Stop has been placed @ 15.92 which is below the low of last weeks bar and locks in 0.75% profit on my trading account balance. This action gives the trade space to work too try and push through the resistance level whilst locking in profit and making this a “Risk Free” trade on this Bank of America trade. Chart as Below
30/05/14 – The BUY order has been triggered and I have tip toe’d into this trade on this Bank of America Long trade at the end of the week. I am looking for another positive bar next week and a close above the entry point. As Below
24/05/14 -The Stochastic hasn’t crossed over in the Over Sold Zone yet for this potential trade on the Bank of America Stock, but is very close to. With positive price action next week, this will happen and give 7/9 indicators in the green. As I am away next week and do not want to miss an opportunity of getting in this trade I have opted for a conservative entry as follows; BUY order @15.23, which is way out of the trend channel for next weeks bar position (Blue Vertical Line on the close up image of the chart), above the highs of the last three weeks and above the Fib 0.25 line taken from W2 to W3. Stop Loss @ 14.30 and the Take Profit Limit order @ 19.50 giving a risk to reward ratio of over 1:4, which is a fantastic potential profit. Charts as below for this Bank of America potential trade.