Tuesday, February 22, 2011

MMM – Stopped-out

I’ve been moving up my Stops to…

  1. Limit my losses
  2. Increase my position in cash

… until things stabilize.  Below are a few positions that hit my Stop in the past 2 trading sessions.

Tuesday’s

MMM

MMM - 2011-02-23 175808 - 1m11d - 1d

  • I’ve lost the entire 1R when I tried to chase an entry on MMM
  • It turns out that my Stop at $92.00 was a well placed security
  • I expect prices to $89.50 before getting Support

MMM - 2011-02-23 180406 - Last 2 Days - 15m

  • In hindsight, it was a great opportunity for a day-trade with an entry-point located at the break of the Bear Flag, or Opening Low
  • There are still some decent profits if you place your Stop at the High of the 2nd bar

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