15.49% profit in 19 days! This article reveals the secrets of a successful trade, which means that by copying the strategy, you can have similar results.
In a world brimming with promises of overnight riches, this might sound like just another pie in the sky. But here’s the twist – it’s not about empty promises but about a concrete strategy, a dash of discipline, and yes, a touch of audacity that doesn’t involve deciphering hieroglyphs.
Setting the Stage
Before we dive deep, let’s set the stage with the initial moves that paved the way:
The Leap of Faith
- Date of Opening: On the 15th of February, 2024, a new chapter began.
- Initial Price: ELF was poised at 169.33, ready for takeoff.
- Stop Loss and Profit Target: Anchored at 159.17 and 203.20, because even adventurers have maps.
- Market Outlook: The stars aligned, signaling a confirmed uptrend.
- Position Size: I ventured 7.69% of my treasure chest into this quest. Because even in tales of valor, there’s wisdom in restraint.
The Master Plan
- Why This Trade?: It wasn’t about chasing shadows. The stock’s leap from EMA 21, impressive earnings, and alignment with CAN SLIM strategy made it as enticing as discovering an uncharted island.
- A Hint of Doubt?: Not in the ideal buy zone, they whispered. Yet, where’s the adventure in always walking the beaten path?
The Turning Point
As our saga unfolds, we reach the climax:
The Final Countdown
- Closing Date: The tale took a twist on March 5th, 2024.
- Closing Price: ELF stood proud at 197.72. Quite the trophy, eh?
- Market’s Whisper: Still whispering sweet nothings of an uptrend.
- RS Rating: Ascended to 97, like a knight after a victorious quest.
In Hindsight
- Triumphs: Managed the position with the finesse of a chess master, navigating through the game with calculated moves.
- Reflections: The cup’s depth was more than usual, the trend slightly seasoned. A reminder that even in tales of triumph, imperfections weave the most compelling stories.
Beyond the Numbers
Diving deeper into the treasure trove:
The Spoils of War
- ROI: A hearty 15.49% profit. It’s like finding a hidden gem in a pile of pebbles.
- Journey’s Length: A swift 19 days. Brief, yet bountiful.
The Moral of the Story
A Strategy Unveiled
This journey isn’t just for glory (though the glory is nice). It’s a testament that with a robust strategy and a level head, turning the tides in your favor is more than just a fanciful dream.
The Invitation
So, do you still cast a forlorn gaze upon your trading results, or are you ready to embrace the strategy that beckons a new dawn? Remember, it’s not about chasing after the tempest but knowing when to sail.
Opening
- Underlying: ELF
- Date of Opening: 15 Feb 2024
- Underlying Price at Opening: 169.33
- Stop Loss: 159.17
- Profit Target: 203.20
- Market Outlook at Opening: Confirmed uptrend
- RS Rating: 96
- RS Line Trend: Upward
- Industry Rank: 114 out of 197
- Volume U/D Ratio: 1.0
- Institutional Ownership Trend: Upward
- Position Risk, %: 5.96
- Position Risk to Next Level, %: 0.46
- Potential Profit (position), %: 19.88
- Risk to Reward Ratio: 0.30
- Position Size, %: 7.69
- Reason for Opening Trade: The price of the stock bounced up from EMA 21. Recently announced earnings showed positive market reaction, with rapid EPS and sales growth. Selected as a CAN SLIM stock.
- Ideal Buy Status: Not an ideal buy due to price not being in the buy zone.
- Remarks: The stock stands out in its industry with strong advancement but has a low industry rank. Lack of heavy accumulation suggests a need for vigilance. Institutional ownership has nearly doubled over the last year. Triggered the 8-week hold rule with a 20% increase in 2 weeks on 20 Feb 2024.
Closing
- Closing Date: 5 Mar 2024
- Closing Price: 197.72
- Market Outlook at Closing: Confirmed uptrend
- RS Rating at Closing: 97
- RS Change: +1
- Closing Remarks: A sharp price drop followed a long uptrend, likely due to institutions realizing profits. The price action triggered the 8-week holding rule, suggesting a potential buy-back once it recovers.
Results
- What Went Well: Timely earnings realization and profit-taking before a decline. Effective position management yielded a handsome profit in just 11 trading days, with appropriate stop-loss adjustments.
- Cause of Error/Improvement: The latest base was 37% deep, exceeding the accepted maximum of 35%, adding risk. The trend was somewhat old at the time of purchase.
- Lessons Learned: Despite triggering the 8-week hold rule and no immediate price decline, the possibility of outperformance by a single stock in an industry based on continuing EPS growth.
- Position ROI, %: 15.49
- Position ROI (portfolio), %: 1.19
- Position Open Time (trading days): 11
- Position Open Time (days): 19
Epilogue: The Next Chapter
Ready for More?
As our tale concludes, the horizon beckons with new adventures. Are you prepared to chart your course using the stars of strategy, discipline, and a sprinkle of daring? The quest for treasure is never-ending, and the map lies within these pages.
The Path Forward
Embrace the lessons, both the victories and the setbacks. Each chapter is a step toward mastering the art of the trade. Remember, the most celebrated stories are those of resilience, strategy, and, occasionally, a leap into the unknown.
So, adventurer, what’s your next move? Will you join the ranks of those who dare to dream, equipped with the knowledge and strategy to navigate the vast seas of the market? The choice is yours, and the journey awaits.
