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viceroy

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Join date : 2008-09-05

PostSubject: hesitation   Fri Sep 12, 2008 11:05 pm

Over the past few months, I've noticed that in this choppy market, I've been having problems when it comes to pulling the trigger in entering a position and as soon as I see a profit, I'll sell out just to take it.

For example, I was short on 1,000 shares of TM and sold it today for a $980 gain...

Can anyone offer some advice on playing this market?
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PostSubject: Re: hesitation   Wed Sep 17, 2008 8:00 pm

id probably be playing somewhat similiar except when you enter into a trade, try using the last bar's low as your stop loss. when you become somewhat profitable, change your stop loss slightly above your entry so that you play with the markets money.

then if the trade keeps working in your way, i would take profits based on 1 of 2 things happening...

either the stock STOPS making new highs if youre long (or new lows if your short)

or

the stock price touches the previous candles low (i'd go a couple of ticks lower since most people tend to use the low as a stop)
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