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RT's,
One of my exit rules has to do with bar extension. Have you ever noticed
that near the end of a move whether it is on weekly bars or two minute bars,
the bars have a larger length than most? I look for the largest length in ten
bars and I move my protective stop to beyond of the extreme of that bar, if
the market wants to continue higher (if long), I will have locked up profit.
Another rule that I have is if I have divergence, you can use RSI,
Oscillator, MACD, no matter what you use, I will tighten my protective stops
to lock in profit.
Now if I am trading more than one contract, I may go to breakeven on one
contract on Divergence and the other I will go below the low (if long) of the
bar that is Divergent.
These rules have always ensure that I make some type of money especially
if I'm trading the S&P's.
Jim
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