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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (13726)	1/26/1999 9:02:00 AM
From: SE	Read Replies (1) \| Respond to of 44573

If you buy in at 36-37, where do you see the logical place to put a stop? IKE's number of 28 at support leads me to believe a number below that would be reasonable, say 26 or so. However, to risk 10 to gain 8 or so seems like kinda a bad bet. There proably is a better chance it closes the gap than leaves it open, so maybe that makes it a solid bet after all. However, 26 is a bit far for a stop for me anyway. Next logical point would be about 32.5-33. The 200 period ma on the five minute bars is at 34, so a touch below that might make sense. Actually, 32 probably would be better since a slight break of the line, which is reasonable, would take you out at 33 probably. So 32, is a risk of 4 or 5 to gain 8. That probably makes sense. What thought process do you go through on this?