Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: jitka who wrote (87113)	4/9/2009 11:57:52 AM
From: GROUND ZERO™	Read Replies (2) \| Respond to of 94695

Before I take on any position, I always plan a route of escape so I won't get trapped in a losing trade... the reason I jumped on the RSX so quickly yesterday is because I knew if we closed higher yesterday, that my risk would be a break of the lows made on the previous day... that was 15.21, so my risk was only one full point, a low risk for a potentially high reward, so I took it... and that's where my stop is placed right now... if I didn't have any RSX right now, I would buy a little bit on this minor pull back we have right now and add if we go lower, using that low day low for my exit stop... realize, I'm not telling you that this strategy will make any money, I'm also clueless so I'm not giving market advice, but I'm merely sharing with you my trading strategy for that particular market... the chart pattern itself looks very solid to me, so I thought it was well worth the risk, the same for the banking group, banks were getting ready to move higher, I only needed to wait overnight for that group to break out, provided we close firm today... the exit stop for the banking group is at the same previous day's low... GZ