Wednesday, 28 April 2010

Trades 28/April/2010

Had few work meetings today, so missed some of the first session. Just the one trade.

CAKE (gap down)

Red first then trend down past OR. Subsequent shallow retrace to the ema. The 8th is red NR7 closing weak and is our short trigger. Closed at +1R.

--------- Daily Stats ------------------------


gary said...

I know you dont watch yr trades all day but do you check them inbetween your work while the trade is on and move stops or stops stay where they are at the beginning of trade?

TraderAm said...

When I was using partials for exits, I would move my stop to breakeven on 2nd half once I took 1/2 at 1R.

Currently I'm trying out exiting all at 1R, so in most cases I don't move my stop. Hence I either stop out for 1R or I hit my target of 1R.

I should add though, while I am watching the market > if the price reaches within a couple of cents of my Limit order at 1R but is not filled, then I tend to move the stop to breakeven. I don't want to turn a trade into a loser for the sake of a couple of cents.