tradersams blog

pyramid entry - cmj

CMJ:  Opened a further position in Consolidated Media Holdings  today using SystemB – this was a pyramid entry into an existing position.  For the purposes of tracking here I will simply track this entry.  This entry got in at $2.96.

Looking back on my entry, I suspect I should have held off for an entry ~$3.05 to avoid any round number resistance.  I have taken on slightly more risk than I intended.

This is a nice looking breakout I am trading, however I don’t see this as having huge potential as it’s a media company – but, oh well, the system found it, so let’s see how we go.