Thursday, July 30, 2009
Dangerous levels
Blow-off top may have just occurred—any new positions taken today, look to exit some or all on the next push above the highs (currently at 995.35 for S&P)
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How to Trade The Ideas
Search Chrib's Trades
How to Trade The Ideas
Please read my full post on this topic: How To Trade My System
My ideas are stocks I think might break out in the coming days. In most cases each idea may be traded in one of two ways: Aggressively or Conservatively. Aggressive traders should refer to the table's Exit A column, and Conservative traders the Exit C column.
Entry: The breakout price level is indicated by the "Entry" column. My system buys on the breakout, not in anticipation of a breakout; thus, a stock is only purchased if it's trading at or above the Entry price.
Exit A/C: Depending on whether you plan to trade in an Aggressive or Conservative style, use Exit A or C. This is your initial stop-loss price. If the stock should trade below this price and you own it, SELL THE STOCK. You may also combine the two exits by making Exit C the initial stop-loss and, in addition, sell at market if the stock goes below Exit A on a closing basis.
Order Entry: Use stop-limit buy orders through your broker to buy the stocks, and stop-limit sell orders once you've purchased the stock to protect your capital in case the stock moves against you.
My ideas are stocks I think might break out in the coming days. In most cases each idea may be traded in one of two ways: Aggressively or Conservatively. Aggressive traders should refer to the table's Exit A column, and Conservative traders the Exit C column.
Entry: The breakout price level is indicated by the "Entry" column. My system buys on the breakout, not in anticipation of a breakout; thus, a stock is only purchased if it's trading at or above the Entry price.
Exit A/C: Depending on whether you plan to trade in an Aggressive or Conservative style, use Exit A or C. This is your initial stop-loss price. If the stock should trade below this price and you own it, SELL THE STOCK. You may also combine the two exits by making Exit C the initial stop-loss and, in addition, sell at market if the stock goes below Exit A on a closing basis.
Order Entry: Use stop-limit buy orders through your broker to buy the stocks, and stop-limit sell orders once you've purchased the stock to protect your capital in case the stock moves against you.
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2009
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July
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- Trade Ideas for 07/31/09
- Dangerous levels
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- Trade Ideas for 07/29/09
- Trade Ideas for 07/28/09
- Trade Ideas for 07/27/09
- Trade Idea for 07/24/09
- Trade Ideas for 07/23/09
- Trade Ideas for 07/22/09
- Trade Ideas for 07/21/09
- Trade Ideas for 07/20/09
- Trade Ideas for 07/17/09
- Update 07/16/09
- Trade Idea for 07/15/09
- Trade Ideas for 07/14/09
- Trade Ideas for 07/13/09
- Trade Ideas for 07/10/09
- Trade Ideas for 07/09/09
- Trade Ideas for 07/08/09
- Trade Ideas for 07/07/09
- Trade Ideas for 07/06/09
- Trade Ideas for 07/02/09
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Disclaimer
All posts are written by Christopher Wang for educational purposes only.
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