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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: wilywilly who wrote (93775)	6/23/2017 10:02:02 PM
From: Wayners	Respond to of 222478

That is an excellent question. I'm glad you like it, its about as good as it gets visually. I trade futures exclusively so there are algorithms out there to take out stops in thinner traded stuff so if I'm trading oil or gasoline or coffee I don't put in an initial stop loss for that reason, however since I know this works really well on a 30 min hour or 2 hour chart, I put in a breakeven stop as soon as is feasible. That is a professional move. If you can just get some distance behind you, place the breakeven stop then you have a free ticket to wherever prices go. There is a tradeoff between taking profits on a spike in price up, or waiting for reentry into the cloud. Its a judgement call based on trend and everything you see. You never go broke taking the money. If I see anything I don't like, I take the money.