iBankCoin
Joined Nov 11, 2007
1,458 Blog Posts

Close Out MAXY Trade

In the post The Return of Strategy Trading I presented an entry and exit setup from a system that performed reasonably well throughout 2008.

The chart above shows the entry day. The rules of the system dictate closing the trade tomorrow, on the open. As this stock can open without a great amount of liquidity, I might suggest holding off a minute or two before placing the sell order. A limit order might work as well.

If one was able to get in MAXY as suggested at the open on Wednesday, December 31st, and can exit tomorrow near $9.00, the percentage gain will be roughly 5.5%

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