Hubert Senters here.
Let’s take a look at AAL, American Airlines Group on a 10 minute chart we’re looking at here is the most recent two or three signals here with the UBE pro so I am going to walk you through how I look at this stuff.
So here’s a $0.09 so let’s just call that a $1X loser second trade short at $48.12, stop $48.28, very tight stop-loss. Before look at the stop-Loss I always look at the ATR. When this throws up I go ATR $0.76. That’s fine for me. It’s below $2.50 or $3 and ideally I like to keep it below $2.
In this example almost say I’m only going to take the examples in two or below okay. So in this trade that would be fine made $6.1X target 1, target2 and then $6.1X. Then this next trade that would initiate would be that short ATR $2.39. Oh no I can’t do that one.
You can but in my rule set for this example I’m saying anything above $2 is too risky for me. Now, I’m saying that $46.69 would be the short, the stop would be $47.16 so it’s not a huge stop but it’s something that’s outside of the range of the ATR that I don’t want to mess with.
If my rule was anything below $2.50 I could take anything below $3, I could take that so there’s target 1, target 2, $1.6 there and then here’s another one right here and the close of yesterday just prior to it, short there, ATR $0.99, that’s safe enough for me. Target 1, target 2 obviously get down when that happens and it will happen to you sometimes.
If you’re short or long either one this happens where you’re short from the previous day and it gaps down past target 1 target 2. Go ahead and take off three quarters of the trade at the open and then trail the stop on the last quarter.
Mark Helweg and I we’re going to are going to be doing a special webinar Thursday April 26 at 7:00 PM EST. That’s today. I will see you there. Heads up, there’s a lot of people register for this webinar. GotoWebinar only holds a thousand people. You might get locked out.
I’m going to open up the room about 6:45 because this one starts at 7:00 PM EST. Click CLAIM MY SPOT NOW to register for the webinar. We have no plans on sending out the replay.
Good luck. Hope it helps. And I’ll see you on the next video.
Hubert.
