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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Jerry Olson who wrote (3511)9/9/1998 9:39:00 AM
From: Patrick Slevin  Read Replies (1) of 44573
 
<you buy 1 contract at 1020 with a stop & reverse at 1026>

No, you have a trailing SAR at 1016 when you buy at 20. So if you are wrong it reverses you at 16 and you lose 4 points.

When you put the trade on, it is prudent to place the stop first. Tell them to place a sell-stop for 2 at 16. Then buy at 20. If it goes to 25, say, CXR (Cancel/Replace) the 16 with, say, a sell-stop at 22.

So you are trailing the stop up, locking in the gain to some degree.

The first stop is at 16, not 26. Re-read the first post...I put in 26 where I meant to say 16. I got ahead of myself but went back and changed it.
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