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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures
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To: Tom Trader who wrote (4617)9/24/1998 4:16:00 PM
From: Patrick Slevin  Read Replies (1) of 44573
 
Yes, I just took ten points. I thought lower was in store but I really get a bit nervous when the limits hit. You never know how it will come out of it....particularly in the last hour with the potential for a short-covering rally.

Right at this moment I would have to say I would buy a down Open looking to reverse within 40 minutes. But I have not created anything for certain yet....I don't usually work on that until the late evening, early morning.

In much the same way that you have 45 point targets I use 10 for certain types of trades. Of course, more than 10 is fine but I had to have at least 10 to be happy with the trade. So the exit was just fine from my standpoint.
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