" P.p.p.s Either way set a stop and hope that the way the market...

" P.p.p.s Either way set a stop and hope that the way the market reacted today we may be in for a bounce higher. Rember lock in your profits and set those stops to break even atleast once youve made a profit "

Hi shylock, good words of advice there - if using a stop and the trade enters into the breakeven stage or into profit, try and keep your stop as close as possible to the action, of course within reason - not too close to be stopped out prematurely.

But the worse thing one could do is get into profit and then watch it come back and then actually lose money, now thats just plain stupid.

As for the " chartist " his trade setup failed today with his stop at $1.02 meaning he lost. As for BTA it is still making lower lows and even thou it finished on its high we just have to look a few days back to 21May as it did the same before resuming it's slide.

Now today's low may in the short term be the new low but if considering a trade to the long side I would at least wait until it makes higher lows and higher highs, just reduce as much as possible the risk to your trading account, the market is hard enough atm why try and increase your risk by trying to pick the bottom of a stock which has been unloved for a long time now.