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

To: jitka who wrote (87123)	4/9/2009 1:22:23 PM
From: GROUND ZERO™	Read Replies (1) \| Respond to of 94695

Never feel bad, I'm glad to help, okay, here's what I'm saying... I see a possible trade, the chart looks good and I think this market will move higher... the very FIRST thing I then do is ask myself "Where should the market not go if I'm right?" This will determine for me where to place my exit stop... I see a pull back and it looks like the pull back is over... the market moves higher the next day, so I now buy and place my exit stop below yesterday's low... For example, today the market is higher after a pull back... yesterday was the last day of the pull back... so, I would buy today and use yesterday's low as my exit stop... I'm saying that IF this market is going higher, then it should not move below yesterday's low... if it does move below yesterday's low then I'm out of the trade... If this is not clear, then ask again, never a problem... GZ