Monday, March 29, 2010

Breaking rules...

I went long 585 shares of CNAM @ $8.42 placing a stop loss order @ $8.00. I am risking about $265.00 including commissions on this trade. Should CNAM regain former highs around $11.00, I will make about $1,500.00 in profits i.e. 5.67 : 1 reward to risk ratio. I like going all in on trades like these because this is one set up that from my observations, since I started trading, has a very high probability of succeeding in a strong up trend and excellent risk/reward ratios. So I will always go all in on these trade set ups.

Fingers crossed.

Good luck and good trading!

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