Friday 28 February 2014
Stopped out at price, 1320.
Re-entered at market, [1320.6]
Enter a new sell stop at 1318.
28 Feb – Buy 1320.6
28 Feb – Sell 1320.0
Loss = 60 cents, $60 plus $15 commission per contract
This is not about loss avoidance but about strategic stop-loss
placement. The other PMs, did not reach the same extreme as
did gold. This will give more time to monitor the trade, in fact,
all of them.
Stops are an art and not just about an absolute number. We will
give up $200 more dollars v the probability of saving the trade
or perhaps a better exit.