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Alan Sears wrote:
> There was other discussion on this group earlier in the week
> regarding Sugar ?
> This was posted to the DGL Traders group
>
> > =================================
> > Mar Sugar: Buy Monday Oct 27, risk 11.63
> >
> > Sugar opened steady Monday and could easily have been bought
> > at 11.80/81 . Stop at 11.63 remains untouched.
> > Prices broke higher today and should continue to my initial
> > target of 12.40. I will be taking partial profits if this is reached
> > and using a trailing stop on the remainder.
> > Contract high is 12.19 so we may have some trouble getting to 12.40
>
> Thurs:
> Prices were strong again today and had no trouble making new contract
> highs. I will be taking partial profits at 12.40 if possible tomorrow
> and placing a stop on remaining position at 11.95
>
> Friday:
> >
> > Sugar: I covered half of my position at 12.40
> > as planned for $630 per contract and am holding the
> > remainder. Stop placement is difficult after such a
> > strong rally without risking a large portion of open
> > profit ? My stop is now at 12.15
> >
>
> Zephir:
Exactly, if you've read the post(s) more carefully, you'd have capitalized this move with good trailing profits already. To
be precised, Stig had pointed us to a nice setup on the March Sugar on 25th October 97. I went on to count out those waves
with all the patterns drawn out. I wrote it was definitely a tradeable setup. Personally, I'd use OCO to capitalize this
move and exercise caution on the upside breakout of the triangle because I thought there might be a possibility for the market
to complete wave c of B. There is absolutely nothing wrong to caution other traders to see a possible scenario that the
market may take. I did not precisely pointed out the entry level and the stop level but, honestly, I think my descriptions
how to go about trading this setup is clear enough already. If you're looking for the Don Green's Buy This & Sell That style
of discussion, I'm clearly not in that league. Care to show us some of the markets' setups we can capitalize on?
Have a good one
Jeff Harteam
Hong Kong
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