tag:blogger.com,1999:blog-19713238.post4285399320520489759..comments2023-11-05T06:41:02.893-05:00Comments on Wall St. Warrior: Retracement Trades - Morgan Stanley (Public, NYSE:MS)TJhttp://www.blogger.com/profile/13294634341130531371noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-19713238.post-22262936394796274302008-10-14T20:52:00.000-04:002008-10-14T20:52:00.000-04:00Thanks Jamie. This is helpful.Thanks Jamie. This is helpful.Day Tradrhttps://www.blogger.com/profile/10147979424429685251noreply@blogger.comtag:blogger.com,1999:blog-19713238.post-54301742996258734192008-10-14T19:55:00.000-04:002008-10-14T19:55:00.000-04:00Thanks Day Tradr,I take a partial when price appro...Thanks Day Tradr,<BR/><BR/>I take a partial when price approached the ORH and wait to see how price reacts afterward. If it carves out a bearish candlestick pattern, I exit, but if it looks like it wants to consolidate and keep going, I try to stay in. I also look a potential resistance zones ahead of time. If there's strong resistance at or very near the ORH, I'll fold right away.<BR/><BR/>I use split stops as opposed to a full trailing stop. I leave the original stop (previous bar low, not entry bar low) on half, and trail a stop at each higher low for the balance. That means that if a stock breaks out and prints 3 green bars up and pauses to consolidate, I use the lowest of the consolidation bars as my stop after it prints a higher high and so on and so forth, until price approaches the preliminary target where I exit on market and cancel the prior stop. This is all done on the lower timeframe not the 15 min.TJhttps://www.blogger.com/profile/13294634341130531371noreply@blogger.comtag:blogger.com,1999:blog-19713238.post-65188864921064028392008-10-14T08:41:00.000-04:002008-10-14T08:41:00.000-04:00Jamie,Excellent trades.How do you determine target...Jamie,<BR/><BR/>Excellent trades.<BR/><BR/>How do you determine target in retracement trade? I entered the MS trade at the same point as your's. My target was the recent swing high. I got all out by the time it reached the swing high. :(<BR/><BR/>Also, how do you use trailing stops? After the stock moves in your favor, when do you move your stops? I am having problems with this, missing very good moves many times.Day Tradrhttps://www.blogger.com/profile/10147979424429685251noreply@blogger.com