ES Journal Archive (2009 - 2010)

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Quote from petty1978:

Intra-day trade looking at the 1M Bar:

1M Bar just confirmed support at 1132. Go LONG to 1136.

Entry Order 1132
Take Profit Order 1136
Stop order 1128

not criticizing, just curious..... If you have confirmed support at 1132, why are u placing a 4 point stop ?
 
Quote from wiesman02:

not criticizing, just curious..... If you have confirmed support at 1132, why are u placing a 4 point stop ?

Regardless of a signals confirmation a stop is used to insure proper money management. Not every confirmed trade signal that I utilize is 100% accurate.
 
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