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TRADE EXIT STARTEGY IN DAY TRADING

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My Exit Beliefs In part one of this article, we considered a few questions: Should we use a tight stop loss to cut any losses quickly, or a wide stop loss to allow some room to move? How quickly should we move the stop loss to breakeven ? Should we take profits at a target, or should we let the profits run, perhaps trailing a stop behind the price? In attempting to answer these questions we looked at a number of charts, we chose entry criteria, and then looked at possible options for the exit. And this is what we discovered: Firstly, in each case, the profit or loss taken out of the trade was more a result of our chosen stop and exit method, not our entry. For the same entry, there were numerous possible exits, some profitable, some breakeven and some at a loss. And secondly, we cannot know, except with hindsight, what will be the most profitable exit strategy for that particular trade. In other words - the exit is more important than the entry. The exit has more bearing on w...
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COMMODITY UPDATES 8TH AUG

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August 8, 2012 News Highlights:  The U.S. API Weekly Crude Stock fell to a seasonally adjusted annual rate of -5.35M, from -11.61M in the preceding month in turn indicating that demand for the fuel in US, world’s largest consumer of crude oil is strong.  Crude oil output from Organization of Petroleum Exporting Countries (OPEC) fell 270,000 barrels per day (bpd) in July to 31.45 million bpd from 31.72 mbpd in June, raising supply concerns in the near future.  The Federal Ministry of Economy and Technology said that German manufacturing orders declined more than expected by 1.7 percent month-on-month in June against expectations of a drop of 0.8 percent which in turn curbed gains in copper by dampening demand outlook for industrial metal.  The European Central Bank is expected to start unlimited buying of stricken member states' bonds to drive down their crippling borrowing costs and shore up its faltering economy which in turn improved demand prospects for copper and c...
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NIFTY DAILY MARKET OUTLOOK 24 AUG

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Indian benchmark indices ended flat on Thursday, as investors booked profits. Further, lower refining margins concern on Reliance Industries also put pressure on index, while support came from IT stocks ~ posted smart gains on hopes for more U.S. monetary stimulus. NSE's Nifty ended flat at 5,415.35. Nifty took a breather after two days of continuous gains, on daily charts, Nifty formed a Doji formation depicting that after recent rally, traders indulged in profit booking and are looking for fresh triggers to take the momentum ahead. Nifty has multiple resistances at 5,450‐5,480. In coming session, follow up buying past the trajectory could take Nifty till 5,520‐5,570. Further, the index still maintaining its higher high higher low formation, signaling that basis is still positive. The index has immediate support in the range of 5,400‐5,370, any selling pressure would intensify only below 5,370. Trading strategy would to buy near support and to sell around 5,480 if benchm...
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