Here’s Why We Always Take The Trade
We don’t “know” ahead
of time if an individual trade is going to work out, but when the
strong setup is there, and the odds are in your favor, it’s time to place your
bets — that’s the house edge.
09:58:36
Intraday
Setup Alert
From the Nightly Daytraders
Report Cognex (CGNX)
is triggering out of a Opening
Reversal to the upside. Yesterday the stock was listed under High RS
reversal setups, and today’s early action has the stock up .23 at 20.91.
Cognex ended up working out quite nicely, but
when it came time to execute at the proper entry point, all we “knew”
was that CGNX was presenting us with a definable edge. With the opening range
establishing a range of .20 before the breakout, we had our risk and reward well
defined for the money management side of the position, and the rest of trade, as
you “know,” is money in the bank.