[Boggers]

Hello all

I am still very new to this and I know the market is still pretty volatile, but I wanted to ask about entry points.

I am looking at shorter term trades atm and I have screens set up so that I can see when a share breaks on volume.

I seem to be missing a lot of entries because some stocks are moving fast and I'm not sure whether to come in or not because I'm not sure where to put a stop loss.

Today for instance while I was out, GMR.L Gaming Realms broke a new high and I received a notification. When I got home I had a look but it had already moved ~12%. It did pull back to ~8% at some point in the afternnon but I decided to wait until right at the end of trading to see if the price pulled back some more. Unfortunately at the end of trading it was up ~14%.

I guess what i am asking is where you would come in or would you leave to the following day and where would you put stops?

Hi Boggers, where you place your stop is going to be very much dependent on your timeframe. so when you say shorter term, how shart are we talking about? obviously the book looks at the investor vs the trader so are you looking at the weekly still but leaning more toward the MA(10) rather than the 30?
or are you actually going shorter still than weekly..which is probably not advised until you have some experience of the method

Hi Malaguti

I'm still mostly using weekly charts and I have only been looking at shares where the 10 MA is above the 30. 

Even so shares that break on volume are moving quickly. GMR.L is up another 7% atm and I've noticed that shares that have been building volume before a break really move, but when I've traded in the past I don't like to have have a stop more than 7-8% away from the buying price.

Really the only reason I'm calling these short term trades is because the 30MA is still way above price on the All Share index