'Trading is a process of observing the market's action until such a time you can find and form trading ideas and get involved.'**

Thursday, December 22, 2011

Trade is gaining ground, move the stop to 12085...
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Bought YM at 12078 with stop at 12065 for a long trade...
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Suddely it drops and hit the stop loss at 12060...20 points loss...
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Adjusting the stop to 12060...price action is very volatile...will just control the maximum possible loss...
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A choppy market open...volatility is high...unless your stop is wide enough, you can easily stopped out...
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Showing the 5-min. chart of the YM Futures where the entry is at 12080 from the regular session...

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Bought YM at 12080 with stop at 12050...
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