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Strategies & Market Trends : MP - Market Pulse

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To: Stephen M. DeMoss who wrote (1176)	8/9/2001 12:03:12 PM
From: HairBall	Read Replies (2) of 1328

Stephen: Ok I'll share another technique... Enter long position and place a stop loss point at a pre-determined amount below the entry position. As the long begins to move up and you get into a comfortable profit, move your stop up high enough to cover your commissions and maybe a small profit. Let the long trade continue to run. After the first intraday consolidation such as what is happening with Ciena now, to make sure it is not a reversal leave your stop in place until the price action moves up above and away from the consolidation. Once the price action moves up and away from the consolidation, move your stop up to the low of that consolidation or if you really want to make sure you don't get prematurely stopped out move the stop up but set it a little below that intraday consolidation low. This strategy will reduce the possibility of getting prematurely stopped out, but will reduce profits if the bounce fades and reverses...I use both techniques! A reverse of this stagtegy can be used for short trades. Regards, LG

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