Monday, November 2, 2009
Consider booking partial profit around now
on short positions, S&P between 1035-1040.
The temporary low appears to be in at 1029.
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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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- Trade Ideas for 12/01/09
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- Trade Ideas for 11/11/09
- Trade Ideas for 11/10/09
- Trade Idea for 11/09/09
- Trade Ideas for 11/06/09
- Update 11/05/09
- Trade Idea for 11/04/09
- Trade Ideas for 11/03/09
- Consider booking partial profit around now
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Disclaimer
All posts are written by Christopher Wang for educational purposes only.
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