Monday, January 25, 2010

Trading with Triangle (6)


Take a look at the lean hogs chart below for another example of this
Even though the lean hog market is in a down trend a small triangle developed and signaled a buy (long) trade entry.  You place your entry order just outside the triangle, and project the profit objective higher and bam you made $1200 in four-days.
Had you not used the predetermined profit objective and let greed or hearsay keep you in the trade, you would have been stopped out for a loss.
What I want to show you how to do is learn to take profits, because you can't lose money that way!

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