Posted by philosoraptor on 9th of Jun 2009 at 06:37 pm
I have no idea what happened with CNB during the course of your
trade [i.e. whether you were in profit at any stage], but remember
Matt's mantra that he often repeats in his newsletters:
"after an inital good move, take half off the table and move
your stop up to the entry/breakeven price, thus guaranteeing
profits" (or words to that effect)
Of course, whenever you keep a trade open overnight, there is no
such thing as a 'guaranteed' stop loss. However, by locking in
profit on half of one's position during the trading day, any
alarming price movement overnight only affects the remaining half
and by definition mitigates any losses.
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I have no idea what
CNB
Posted by philosoraptor on 9th of Jun 2009 at 06:37 pm
I have no idea what happened with CNB during the course of your trade [i.e. whether you were in profit at any stage], but remember Matt's mantra that he often repeats in his newsletters:
"after an inital good move, take half off the table and move your stop up to the entry/breakeven price, thus guaranteeing profits" (or words to that effect)
Of course, whenever you keep a trade open overnight, there is no such thing as a 'guaranteed' stop loss. However, by locking in profit on half of one's position during the trading day, any alarming price movement overnight only affects the remaining half and by definition mitigates any losses.