Happening right now probably into close. CFC bails out the market...lol. Don't forget to sell into the spike...
a momoentum trader is someone who buys GME after they raise guidence at 57 bucks pre-mkt only to sit there in horror as the price drops and then gets a downgrade.
Hope you aren't serious. There is no free lunch. On average, the tighter your stop, the more you get stopped out. People who sit and calculate their risk:reward before the trade, as if that had much to do with real market action are sitting in a delusional world.
That's true, RRR is just a theory...one of those things that give you warm fuzzies before you pull the trigger....but in reality, especially if you trade momentum, they don't really make a huge difference in what you're gonna do. Momentum trading is about riding the wave, not following diagrams. Damn rcanfiel you normally piss me off, but between this and the Benevolent Ruler post...you ain't so bad. ha ha
IN terms of CF and Bighog. When one trades BO out of patterns, one doesnt know before hand how far the move is going to go(at least in my experience). Its best to understand price levels and know where traders like to take their profits. I think a combination of exitig some on the Price level and then letting the rest ride for the trend is a good way to handle this problem.