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Hi All,
I trade UK stocks and currently I am quite successful in choosing
those stocks which continue to make short-term gains in an Uptrend
using certain combinations of MA's to first identify these stocks.
However, the one area where I am having MAJOR problems with is
predicting when the current uptrend rise will collapse.
So far, I have held on to certain stocks only for them to suddenly
drop in SP which results in my stop loss being hit , or worse still
closing trades only to watch them suddenly shoot for the stars a few
days later !!!!!!!!
There may be some scope to modify my stop loss (ie. lower it) to
eliminate it being activated but this obviously will have a knock on
effect to my risk:reward ratio.
My goal is to identify those stocks beginning a new uptrend and to
ride the tend as much as I can before it falls against my position.
In the instances where the SP then levels off and stays within a
short trading range, I am happy to wait 3-5 days to see if the
uptrend continues and if not, to close my position.
Consequently, can anyone recommend any good indicators to give some
indication as to when a rise may run out of steam or when it is good
to keep a certain trade open??
Any help much appreciated as I've run out of ideas and don't know
what to try.....
Many Thanks in advance,
Chorlton
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