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Spread your purchases if you're going long with multiple contracts.
1) Place a Stop order to get in 20% of your contracts at 12.15 Stop March
Sugar. If this order does'nt fill, then Tuesday is another day and you can
decide what your plan is at that time. You may want to go short, who knows.
2) Place a Stop order to get in 20% of your contracts at 12.35 Stop March
Sugar.
3) Place a limit order to get in 20% of your contracts at 12.29 limit.
Better entry.
3) For the rest (40%) of the contracts, wait and see how the market
develops during the day or days.
The stop loss order is up to you and your risk tollerance and money
management strategy.
If your are a one contract trader, then just place a stop order at 12:30
March.
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> From: Stig Olausson <olausson@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: March SUGAR
> Date: Friday, December 26, 1997 5:03 PM
>
>
> It looks like a inverted H&S pattern is developing in March Sugar.
> Therefore
> I am contemplating entering a trade Monday
> Potential in H&S pattern = 12,90
> Today 12/26 is an astroday, which sometimes coincide with Trendchange or
> Break outs.
> So what will it be Monday? B/O or Acceleration?
>
> The three black candlesticks before last trading day could indicate we
just
> broke out of a small Flagg (3dayslong), and a break out is imminent.
> Furthermore Mercury is going direct after a Retrograde period on the
27th,
> so any reaction should be over and and we can continue in the underlying
> direction
>
> Larry Pesavento in his Fibonacci Rartios with Pattern Recognition remarks
> that certain pattern has a tendency to repeat. Would that increase the
> probabillity of the H&S pattern being completed?
> I think so and I am planning to go long on Monday.
>
> Does anybody have suggestions on how to enter this trade?
> On a stop? Where?
> At the market on opening? Why?
> At the close? Why?
> After 30 minutes, when the professionals start(?) buying/selling ?
> Stoploss?
> Any other suggestions?
> Could be educating for the group.
> Please post to everybody.
> Regards
>
> Stig
>
>
>
>
>
> >
> > Regards
> >
> > Stig
>
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