This is a sample entry from Don DeBartolo’s email newsletter, Trade Spotlight: Futures, published on Tuesday, September 13, 2016.
There is a trade opportunity based on a potential M.E.T breakout in the Soybean Oil futures market. The MACD and Stochastic indicators are bearish. Trend Seeker is Up, but anticipating a change on the breakout. This contract was discussed in this week’s Beyond the “Spotlight” article.
Sell the December 2016 Soybean Oil futures contract at 32.30 using a stop order, GTC
Entry is a break of the 9/01/16 low. Initial margin: $825 Maintenance margin: $750
Stop loss: Place buy stop on 33.60, above recent session highs, GTC. (Risk: $780)
Target: Place buy limit on 29.80, near the 7/28/16 pivot point low, GTC. (Profit: $1,500)
December 2016 Soybean Oil Chart
Contact your Daniels Trading broker by phone or email to place this trade.
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STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A "LIMIT MOVE", IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER.
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