The following trade alert is for October 27, 2008.
Placing the Order: Practice proper money management and allocate a percentage of account equity you feel comfortable trading. Select a contract with minimum 55 days to expiration, Open Interest 30 times the number of contracts you wish to trade and Delta greater than .25.
Closing the Position: Immediately after the order is filled, place a OCO (One Cancels Other) order to sell. We recommend placing a GTC order at our defined Limit and Stop.
Once the stock reaches our Take Profit, we have two options. 1. We can close the position out completely. 2. We can sell half our position and then place a Trailing Stop order for the remainder.
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