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Going through some of the old list messages, I found this post from Phil
Lane - see below. Seems like an interesting idea. Has there been any
discussion of this?
Might work if you were quick to trail your stop.
Regards,
Michael Suesserott
-----Ursprüngliche Nachricht-----
Von: Phil Lane [mailto:patterntrader@xxxxxxxxxx]
Gesendet: Tuesday, May 30, 2000 18:22
An: Omega-List
Betreff: crazy daytrade idea
how about placing a "stack" of buy stop orders in the emini - and then exit
the trade a couple points above the highest buy stop. For example buy at
1505, 1407, 1409, 1411, and 1413 and then exit at 1417 or something. If it
doesn't go up you don't get stuck with them all (theoretically).
loss-trimming exit strategy and other details remain to be determined. It
may be a completely useless idea, i don't know..
thoughts???
rgds phil
that's where plan "b" would kick in - possibly the same thing in reverse -
failing that i'd probably blame my broker or some bad advice i got on a
mailing list.
rgds phil
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