MCLEODRUSS
has closed at 302.55. It is a breakout. And as per our policy, every breakout
must be traded with a proper Stop Loss, as there is a high probability to
win
in a breakout trading. Even in this
stock, one can initiate a long trade for the targets of 307 and 311. A strict
closing basis Stop Loss must be maintained at 297.
Hello... some questions
ReplyDeleteFor a breakout on EOD charts, why are you keeping such tight SL and extremely small targets? these are more like intraday targets... 307-311. And the SL is also hit today even though it was a positional trade.
Your normal EOD breakout should run for several days if not weeks.
Also, I have seen a pattern where if your SL is X then your first target = X and second target = 2X. In this situation, it will be very difficult if not impossible for the site visitor/ client to earn money.
I have brought this to attention before but I think it must have slipped your mind.
Refer example 2 in http://www.vfmdirect.in/2014/08/probabilityexpected-returns-and-time.html