Quote from kinggyppo:
ok so there was a poster here a while ago named spectre2007. He posted a lot and people gave him shit about it and he left. On one of the fed days he laddered buystops all the way up, after the announcement the mkt did its usual dance then screamed up. No doubt he made a fortune, some of the older guys probably remember this; one of the great trades I have seen on this board.
So a properly placed buystop/sellstop is a powerful tool used properly, Good trading!![]()
Nice technique. thanks for writing it down King.
I presume he must have used a 1-2 point stop on all these buy stops, to protect himself from the price reversing itself.