KAZ

so ill be closing one contract down when it hits 291 then the rest to break even.
If you have been following my trades then you would hear me saying a free trade regularly. Thats when i moved all my stops to breakeven and have taken profits.
I dont care about the long term trade as im a short term trader. I try and milk as much as i can from a trade.

Hi libero
My exit play once I enter a trade on a 123 low is to put the stop below the 2 point . This way I know the risk and it's more or less controlled.
With regards to closing a trade that's gone to profit.....3 contract rule resolves this issue for me.
Exiting a trade is by far the hardest part about trading. The greed factor is what makes people lose a winning trade. The 3 contract rule nullifys this to some degree. Look to close 1 contract down at the next resistance level then move your stops to break even.
The downside to this is ,you may get closed out more than you would like with only a little profit but if your trading regularly then it's not a big deal
Keep it simple .

Eric,

Aye, and what's worrying is that most miners seem to suffer from debt as part of their depressed asset price! Clearly, there's not a real recovery going on, otherwise, why the slump in copper et al!

Remo,

Thank you for the heads up, I do lovvvve the 1-2-3; but entry is less of a problem these days, and its to do with exiting a trade that forever presents me a headache - I know greed is a factor! but that aside, what is your exit strategy with regards to this KAZ play? (if you don't mind!)

Cheers!

Possible 123 low formation????

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Copper up this morning on China news as with other metals.

Caution:-

KAZ £000M's write down of 26% ownership of ENRC to hit the wires sometime if ENRC t/o goes ahead (taken private by original founders)with increased KAZ shs on the market as part of the deal, very volatile, stops needed.See recent ENRC & KAZ RNS's (SFO investigation of ENRC) and KAZ government very infleuntial in both companies.

233p double bottom or will the 179p 2009 low hold?

Longer term with new production(+50%)coming on stream 2015 I think and global growth (back to FTSE 100 for KAZ?).

Short term trading, up 20% odd for some over the last few days,

Still waiting for more bad news first, probably too much emphasis on fundamentals on my part.

Possible 123 low formation????
Im long on this with my stops below the 2 point
This is the first higher high this has had for a long time.


dl.dropboxusercontent.com/u/4899609/kaz1stjuly.png

Long @ 347 (Inside Bar)
SL below 328 low of candle before the IB ( its also 3 of a potential 123 low)

This is in a strong downtrend & this trade is only a short term trade. I will move SL above B/E very quickly as soon as it goes in my favour.