This Is One Way To Use Bad News In Your Trading
What is the best
daytrading strategy? How do you answer that question? You may say
“Trap Door”, “Slim Jim”, or “Fibonacci Retracement”. My answer is: Your favorite
is the best strategy. I know some traders refuse to buy on breakouts. Some only
trade on positive or negative divergences. Unfortunately, many new comers quit
trading before finding their favorite methods. Don’t give up!
09:42:53 (From TradersWire)
|
Action |
Symbol |
Order Type |
Setup |
Stop |
 Target |
Current Price |
Posted By |
|
Buy |
GM | buy stop at 30.01 | potential trap door | 29.85 | 30.20 | 29.93 |
TK |
General Motors (GM), before the open, said
the company expects a loss in the first quarter of 2005. The stock gapped down
more than four points. I monitored the 1-minute chart and noticed it began to
form a resistance right at 30. I placed a buy stop at 30.01. Luckily,
immediately after the fill, GM hit our target price of 30.20.
T.Kamada
If you have questions, feel free to
mail them to me.