Nice profitable day, thanks to EMKR's another great performance. It's always scary to go long such overbought stock but my long term backtesting and real trading proves a golden rule of trading - don't go against the trend (especially against a strong trend) and stick to your initial trading plan. This golden rule helped us again today to gain 2.6% per trade on average. (EMKR +7.29% profit).
First 10 min of trading EMKR was very volatile and if you used 3% automatic trailing at the moment of entry, you could probably were out with 3% loss. To avoid this as I was mentioning before, I use trailing stops after 9:45am, when market initial hysteria is over. I use manual 3% trailing, watch first 10-15 min of action and manually trigger stop-loss order when I clearly see - it's done and stock is doomed to fail. 1-min bars help me with that. In other words in use 3% stop loss as the 1st bell ring to get out, but to actually get out I can tolerate 5% loss. Today EMKR demonstrated advantages of such flexible approach.
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