Trail the money is order management. Once your in a trade, move your stop into a profit position. PA away from your entry is followed until your stop hits. Generally, it is -1 to -1.5 from PA highs, either candle to candle or new highs being established in the market. Short trailing is the reverse.
Example from today. We entered the trend line hit, and trailed the PA.
[10:02] <Chartmaster> mkt moving up again
[10:09] <Chartmaster> part 26.5 bal runner at be+1 25.5
[10:13] <Chartmaster> ok follow now st 26.5
[10:14] <Chartmaster> i m not worried if it hits and takes me out. will be more trades but when mkt moves I follow with the stp
[10:15] <Chartmaster> 28 breaks go to 27 etc
[10:16] <Chartmaster> 27.75
[10:17] <Chartmaster> you hold because it's in the money how much, whenever it hits stp
10:17] <Chartmaster> 28
[10:20] <Chartmaster> ding ding out 28
[10:22] <Chartmaster> out of long
TODAY:
Today actually started last evening. The bias has remained bullish, and the after-hours market was very productive, following the setup described in Playing the Market.
[20:48] <Chartmaster> 2 attempts to bo 13.25 bit s/w now
[20:50] <Chartmaster> still long bias into upper teens. we have 2 days and a long weekend for lot of news most likely will be out and on side by thur mid day
[20:56] <Chartmaster> some stalling issues at 1315, 1318-19
[21:03] <Chartmaster> a break below 7.75 considered mkt failure (again) causing a major bear run and continue the longer term dn move from 4/8
[21:04] <Chartmaster> 1318-19 essentially 3 pushed (we have 2) to reverse the 4/8 trend
The A.M. trading continued with TL setups
And....
The weather is nice, and it is a short week due to the holiday. Taking a break. After all, there will always be a next trade.
Enjoy your day.............
No comments:
Post a Comment