As the year draws to a close, let’s look at our other open trade in the 52-week strategy, states Ian Murphy of MurphyTrading.com.
The entry on November 24 (green vertical dashed line) was at $59.74 and was based on the aggressive approach to the strategy (washout of -1000 by the 52-week indicator). On the day of entry, the -1ATR soft stop at $52.51 gave a risk of $7.23 per share ('a' on the chart).
The trailing stop has since moved up to $54.87 (as of yesterday’s close), reducing the risk per share to $4.87 ('b' on the chart). The trade has some way to go to break even, but it’s going in the right direction.
Learn more about Ian Murphy at MurphyTrading.com.
