FUQI is a perfect example of how we must make trades our own. How we must develop our own playbook.
I am short FUQI from 12.60. The intraday fundamentals are so compelling TO ME that I am playing FUQI to finish near the low. My win rate is probably 10 percent for such a set up. It is very likely that at the end of the day you could say,” Oh Bella you are a dope for holding that FUQI short. Dude you could have covered 40c in the money.” My downside is 5c and my upside is about $1.60. So my risk/reward is 1×30. I don’t have to be correct too often with this set up 🙂
I see an equally compelling trade for those who focus on intraday technicals. The intraday downtrend was broken technically at 12. A long from FUQI at 12.20, as a Trade2Hold through 13, with a stop below 12 makes perfect sense.
This is a question of how you see this trade, the screen, and interpret the market. Make this trade your own, from your playbook.