Site Meter The Lawyer Trader: Live Trend Trade: STEI

Wednesday, April 29, 2009

Live Trend Trade: STEI

This stock has been channeling for about a month and now it looks to be breaking out. I'm in at $3.80 with a profit target at 5.50 and a stop at 3.30...a 3.4 r-multiple (risk/reward). Here's the chart:We'll see how this one works out.

On a different note, I've been working on a new currency trading method...kind of a momentum/trend following system...and it's been doing pretty well so far. I've been putting a little money to work with it to evaluate its performance and potential problems. Soon I'll post a breakdown of it and explain how it works for those interested. It's not a very complex system and it's very similar to what I've been previously using...I guess you could call this one a polished upgrade of what I'm already using. Anyhow, be on the look out, I'll post about it within the next day or two.

Have a great day!

TLT

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