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Alias Born 01/19/2012

Re: None

Wednesday, 01/29/2020 7:12:07 AM

Wednesday, January 29, 2020 7:12:07 AM

Post# of 1589
My Standard Operating Procedure: ALWAYS USE BRACKET ORDERS
The chart's price action and indicators show me signals used to place orders.
I may place an order at the current bid or ask -- essentially at MARKET or
place a BUY-STOP above or a LIMIT below current prices.

Once filled my immediate concern is to raise my Initial Stop-loss order level ASAP.
I can use the on chart trade mode or the Depth of Market grid to do this.
Once my Stop is at Break-even, then I'll concentrate on the target level.
I can raise or lower my target level --- I will NEVER lower my STOP level.

For my EXIT, I do not always wait for my target level to be reached.
I will often close a position using the Exit at Mkt & Cxl button on the DOM
if my read of the current price action tells me get out.



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