As I have mentioned earlier, STOP LOSS is not simply put 2-3 pips below your purchase price. There are many scenarios that you need to SL. I will shared one of the scenario that you need to SL. This is written in my ebook. There are quite a number of scenarios I mentioned in my ebook that have to SL. I can only share one of them as a preview else peoples think si mi si lang ebook dare to sell at the kind of price. My sharing is not to promote my ebook. But because many are still not sure of SL, so I share one of the important one here.
I have posted 8 charts for your reference. 1 chart may not be able to convince you. So I posted 8 lor...lol.
From all the 8 charts you can see the similarity. The counters trend up for a number of days. Then we see on one of the day it created a super volume compared to other days. And you can also see there was bigger movement intraday on the day of the super volume. When you see this, likely the BBs run road liao. So the volume give a very important signal. This is one way you use volume indicator. If the counter move more pips than usual on the super volume day, then it increase the possibility that the BBs run road liao especially when it hit day high and retrace a lot on closing.
Therefore, if you pick up a counter and it's on the uptrend for a number of days, always watch out for super volume on a particular day. This is one scenario that you need to exit. You see super volume in an uptrend, no need to think twice. Just exit.
Paiseh, I can only share one sell signal here. As I have mentioned, no analysis or theory works 100%.
Just some weekend sharing! Huat ah!