20/04/15 – MENT NASDAQ – The price for this stock has rebounded today, towards the previous high on this current wave 5 move and so I have time stopped this trade and taken a 1% profit on my trading account balance. I am happy to walk away from this trade with profit at this stage as staying in much longer will incur costs and the potential of a break even trade. I will keep this stock on my wathclist for potential scalps for the next couple of weeks. Chart as Below for this Time Stop.
19/04/15 MENT NASDAQ – Unlike my trade on FAF-NYSE where I let the trailing Stop get taken out, I did something very unusual, for me, with this trade on MENT Nasdaq. Since placing my Trailing Stop at the beginning of last week the price steadily pulled back and I wanted to see if the Trend Line Support would hold on Friday so I adjusted my trailing Stop own below this line to 23.71. The Trend line support did hold on Friday but I fear i have lost out on this trade now. I will not be adjusting the trailing stop down again this down again and if it does get taken out then i am break Even really between this trade and that of FAF. Looking back I should have been more aggressive and Time Stopped this trade at the 1% profit line and is something I will look to do on future trades that need a time stop strategy if these market conditions do not change. Monday is critical for the survival of this trade. Chart as Below.
13/04/15 – MENT NASDAQ – The price broke though and closed at 50% to my target price so I have placed a Trailing Stop @ 23.90, just above the entry level. This move is in line with my main trade management techniques and now makes this trade “Risk free”. I will look to adjust the Trailing Stop more aggressively if the Bullish momentum continues next week. Chart as below showing the Trailing Stop Placement.
13/03/15 – MENT NASDAQ – My Buy order for this Long trade triggered in yesterday’s session and closed positively near the Daily High and on the 6/4 MA High line. A higher High and higher Low for today’s bar will confirm this movement and be a good sign for momentum. The minimum I am looking for is to close above the entry price and even better would be to close above and clear of the 6/4 MA high line. Chart as below for the entry into this trade on MENT Nasdaq.
12/03/15 – MENT NASDAQ – A very large Bullish price movement for this stock in yesterday’s session and a close out of the trend Channel indicated the Wave 4 pull back could well be over. I was keeping an eye on this at the beginning of the week but did not expect yesterdays price action. There are still 8/9 of my setup indicators in the green for this potential Long trade on MENT Nasdaq and have opted for a middle of the road entry strategy to ensure a decent Risk to Reward profile. Stop Buy Order@ 23.82 which is above the high of yesterday and above the Pivot P during the 2nd wave which was a previous rejection point by the market. Stop Loss @ 22.74 and the initial Take Profit Limit Order @ 26.20 giving a Risk to Reward Profile over 1:2. If I went for a conservative entry above the 6/4 MA high then the Risk to reward would be just within my minimum 1:1.6 requirements. Charts as Below for the setup of this potential trade on MENT Nasdaq.