Tuesday, June 9, 2009

Capitaland was not stopped out because I look at the closing price at the end of day, which was 3.71. Why?

1) For uptrending and bullish sentiments, I want to see acceptance of the price level of below 3.69, meaning if the closing price is 3.68, I would cut the next day.

2) However, for other market conditions like sideways or bearish, I would cut the next day, if the bar even touches 3.69.

I like to trade with my left and right brain, hence my trades are not strictly mechanical but also guided by intuition developed over my 2 years of active trading experience.

I highly recommend these 2 books for a more thorough education in trading:
  • The Three Skills of Top Trading by Hank Pruden
  • Trading in the Zone by Mark Douglas

Trading is so much more than just Fundamental Analysis, Technical Analysis, probabilities, trading edges and techniques.

No comments:

Post a Comment

Search This Blog