Hey: what's going on team, it's ricky with tackle solutions and first things: first, if you guys want to see continuous updates on this swing trade with my girlfriend on urban outfitters, please make sure that you all you have to do is drop a thumbs up and consider Subscribing i actually made this video with my girlfriend about two and a half weeks ago, and the thing that i really like about this swing trade is that it didn't go according to plan right away and in comparison to a video that i just made last week. You guys saw that i went into peloton at 97 and two days after it hit highs of 118., that's over 20 growth in just two to three days, and that is a perfect example of a really good swing trade. But, let's be honest, they don't always play out that way, which is, i feel why i really want to talk about urban outfitters. This one did not play out exactly according to plan, but it's because of the steps that we took.

We were able to stay well balanced and comfortable during the swing trade, which is, i think, a very common mistake for a lot of swing traders. So again, if you guys have any questions at the end of this video, please make sure that you comment them down below right now with urban outfitters, it is trading at 32.52 cents. It previously hit highs, as you guys could see at highs of 33.57. It hit lows of 31.

I decided to buy when it was already in the high 33 right, so it was still indicating signs of a sell-off, but, like we talked about before the three stages of a reversal, there's the rejection, consolidation and confirmation first off. If you're the worst at risk management or you don't like cutting losses, you should never buy during the rejection phase, you shouldn't even really buy during the consolidation phase, because it's not indicating signs of an uptrend. But, like i shared in that video, i was buying. Ten thousand dollars worth of a stock, she had the option of selecting pinterest urban outfitters and your favorite retail store target target right.

She selected urban outfitters as it was the kind of in between it wasn't as risky as pinterest, but it was a little bit more. What would i like to say, uh, attractive in comparison to uh target, and we decided to go in with a ten percent position, which is ten thousand dollars, as we intend to go in with a hundred thousand dollars into this position? So an example would be if you are trading with a thousand dollars, that's like you buying a hundred dollars worth of a stock and think about that emotionally and psychologically, even if the trade doesn't go exactly according to plan right away, because you have such a light Position only a hundred dollars with an account of a thousand dollars. It allows you to be able to tolerate that pullback. Just imagine if you were in it with a thousand dollars and it's still selling off.

You might be a little bit more unpleasant right. So what i want to talk about is because this trade didn't go according to plan. It made me feel like i had to work for it a little bit more and it's still not going exactly according to plan. You guys could still see that right now it was trading above the four hour time frame on friday.

It pulled back, it actually had a red day and it sold off even more during the extended hours. You can see that it did begin to indicate and trade above the ema line, which is what influenced me from going in with ten thousand dollars to adding an additional twenty thousand dollars behind this trade. And it was because i was so light in my original position of just ten thousand dollars that, once that direction actually began to indicate signs of an uptrend and showing signs of growth, yep confirmation, it makes sense on why i want to add more to a position That is making me money or indicating signs of growth, so i'm from ten thousand dollars to adding twenty thousand dollars, i'm in with thirty thousand and then it broke above thirty three dollars a share. So then i decided to add an additional twenty thousand dollars all together.

I wanted to update you guys on position. This is by far not a perfect trade. This is with urban outfitters. I have a total of eighteen hundred shares as of right now and i'm up only three percent one thousand seven hundred and forty five dollars is what i'm up due to my position size.

But again, it's simply just three percent. A very similar trade to this is something that was selling off and then i really stepped on the gas when i began to indicate signs of an uptrend is sq, but the thing that i really like and the reason i really wanted to follow up with this Video is to highlight the importance of position size, especially when things are not going according to plan peloton when i went from 97 to 118 is a great example of when things go according to plan, but more often than not, they don't play out that way. So this is a very real example of a swing trade that i had to take a light position tolerate it's still selling off and then once we did get that indication of an uptrend i added more, but even when i decided to add more, i added more Twice and now it's trading below the ema line once again, so i'm going to have to follow up with it and see if it continues to sell off i'm going to have to reduce my position size because i don't want to have a 60 000 position on Something that's still selling off and or if it begins to indicate signs of an uptrend, then i can begin to again add a little bit more to this specific position. So i wanted to ask you and you guys can share in the comments section what you think.

Let's say urban outfitters does begin to indicate signs of an uptrend right. It begins to trade above the ema line and begins to make higher highs higher lows. I know our original sell price was around 40 because it was trading within that channel of 35 to 40. Where would it make sense to potentially lock in profits for there to be a potential resistance level and again yeah? I haven't even oh what the heck yeah.

I haven't even talked to her about this, but, as this thing begins to indicate signs of an uptrend yeah, where might we experience a slight resistance level? Look at my alerts. Look at the indicators. Um come on like wait. Wait move that 35-59.

Do you know what the estimate? Oh, i was going to ask you. You know what indicator this is yeah. It's the estimate, and one of the things that you should know is that patterns tend to repeat themselves right. Oh with the idea that patterns tend to repeat themselves, support level and resistance level, but more often than not, sometimes when we break below a support level as we broke below 35 dollars, we hit lows of 30 and then now when we try to recover, sometimes old Support levels off that one: no, let's make it or old support levels, become new resistance levels yeah that term yeah okay.

So it's just really important to understand that, sometimes as we're approaching a previous support range, it might act as a resistance range and vice versa. Yeah, if we are breaking through a resistance level and then we pull on back, it might act as a support level, but made me nervous, i feel like i would have known that i don't know, but um yeah. So one of the things that i had originally intended was to make about uh from 35 dollars to 40, that was about 13 or 14 right and when it comes down to this current trade uh with my average purchase price uh. Let me go ahead and get rid of this thing, but when it comes down to my average purchase price of around 31.72, you could see that based off of where the sma line is, i don't have to sell back at forty dollars to make that thirteen percent.

I can sell at the sma line, because i did a really good job, managing my position, size and averaging up into when it actually began to indicate signs of an uptrend. So, although my original plan was to go in from 35 to 40 again because it sold off a little bit more, it's the idea that it pays to be patient because the stocks sold off more than we anticipated. We allowed the opportunity to present itself and then added more when it made sense. So, although i still would like to sell at 40 a share and then from where we're at right now to 40 dollars a share that would be about 24 instead of the original uh 13 to 14, i'm not going to hesitate to lock in profits at the Sma line if we actually end up showing signs of a potential rejection level, so i really do appreciate you guys time.

I hope that i earned your thumbs up in this video if you guys have any questions whatsoever feel free to share those down in the comment section and also, if you want to learn a little bit more about swing trading or day trading, i trade live every Single day at market open with the learn plan, profit group, and if you want to join us on monday at market open, make sure you click the second link down below and i'll, see you at the morning bell. Like always, let's make sure that we in the year on the green now take it easy team.