- Copper Traders -

got stopped out due to my error, should have been a $1200 profit instead of a $486 loss

SLD 2 HG MAR10 Futures HGH0 3.214 USD NYMEX 01:33:48

opened new short

SLD 2 HG MAR10 Futures HGH0 3.210 USD NYMEX 01:42:57

target 3.1455
stop 3.2330
 
What are your criteria for entries/exits and stop placement, Masterchanger? You also seem to have increased your target price lower from 3.1455 on that last trade. What was your rationale for that?

- Ferdinand
 
Quote from FerdinandAlx:

What are your criteria for entries/exits and stop placement, Masterchanger? You also seem to have increased your target price lower from 3.1455 on that last trade. What was your rationale for that?

- Ferdinand
More...

Hey Ferdinand,

Entries,
I look at support and resistance and fibs

Stops,
I look at bollinger bands and if I enter on a break of support or resistance I like to use the previous swing high or swing low as my intial stop. If that is too much then I try use a dollar amount.

Targets, are fib extensions -50% initially but I also watch the ADX on two time frames and that helps me to decide to stay in and if I see that we are in a trending mode I will pull my target until I get a downturn in ADX or a trendline break on the shorter time frame.
 
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