Book: Hit And Run Trading by Jeff Cooper Message Board

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Strategies & Market Trends : Book: Hit And Run Trading by Jeff Cooper

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To: Steve G. who wrote (95)	1/28/1998 8:45:00 AM
From: Joe Sheets	Read Replies (1) of 438

Steve, Cooper's "system" is more of a position trade than a Day trade. He expects to get at least 1.00 on the day with stops at -1.00, but will hold a trade overnight if it ends profitable. He WILL, however move his stops up to the profitable range before the close to "lock-in" profits. The only problem I see with this method: If the stock gaps down(if your long)or up(if short) you could get into trouble. But that's not very likely because he trys not to play stocks that are "newsy" at the time...but there is alwaye the chance of supprise! I've been trying his method for a week now using his nightly e-mail suggestions. I'm about even on the week. I would have been ahead but I broke one of the cardinal rules of Cooper: Set your stops at -1.00 AND KEEP THEM THERE!!! I was long NGC at 30 7/8 and my stop was at 29 7/8. The stock started to move up and I was happy! The stock started down and I MOVED THE STOP!! the stock I bailed at 28 13/16(-$1035.00) ouch! Lesson Learned!! Joe

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