Here’s The Only Way To Trade With ‘Edge’
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Sometimes trades with perceived edge
don’t live up to expectations, and that’s the reason why the best laid out
trades can only maintain their long term edge by using proper stop loss
management techniques. Without minimizing your losses, you lose the edge over
the long run. You’re also much more likely to be the poster child for a little
ditty about ‘living on the edge’, sung by a former big hair band that’s also had
to change in order to appreciate longevity in their business.
10:10:37
Intraday
Setup Alert
From the Nightly Daytraders
Report Integra LifeSciences (IART)
is breaking above extended triangular
resistance on the 5-Minute chart. This action is trying to extend yesterday’s
high volume gains that established a Year-To-Date high out of a month long
consolidation pattern. IART is up .11 at 27.58.
A lot of
stocks that demonstrated leadership yesterday ended up as the laggards of today.
With what looked to be a potential continuation move out of pattern resistence,
IART then did the unthinkable. Integra LifeSciences forced us to trade our edge
from the other side of the P & L sheet by selling out a losing position
while the loss was still small, and thereby keeping the long term edge intact.
Chris Tyler
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