Support and Resistance Trading Forum

Re: Daytrading by Ambush Weekend Edition
By:Tom Loge'
Date: 2/21/2008, 3:51 am

Good luck trying ... lol. Yeah, a bit of a typo ... it should of said sell ... and the numbers should have been 9883 and 9887 instead of 93 and 97. The idea being if we SOLD the break of 9880 we'd assume a fill around between 9873-77 ... probably 9875 ... so the tight player would place his stop at 9883; the looser player at 9887 for risks of $80 and $120 respectively.

The comment that followed relative to the 9850 was based on my comment about using the upper and lower ambush points as management triggers. Referring to the numbers I gave the next in sequence after 9880 was 9850 ... a gap of $300. Accordingly the "loose" play would be to roll a trade initiated off the break of 9880 to BE as it broke below 9850. $300 is a big move for me but I have nothing in the intervening gap. So once the market broke 9850 I certainly wouldn't let it back up on me more than the 9863. We would, of course, be able to use periodic RRR as a management tool and override the ambush numbers since they fell farther apart than we might have been comfortable with.

I hope the clarification clears it up.

Responses To This Message

Re: Daytrading by Ambush Weekend Edition
Joe -- 2/21/2008, 7:51 am
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