Venice
82 posts
msg #100665
- Ignore Venice
modified |
5/9/2011 11:50:58 AM
For protecting losses, a close below the entry candles low.
For taking profit, when you see the price line cross back below the signal line.
Granted, sometimes the first day is a down day, so take advantage of the cheaper prices.
After the first day close, if I'm in profit, I always lock it in with a stop loss.
This method had a high probability of having at next the next days candle be in profit. After that it tends to go back to a more 50% chance of continuing the run or reversing. This does catch some pretty good runs though too.
I also don't take any trades that have had a sizable gap up, or if the current days bull candle is a big'un.
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