First, after the close at the end of each trading day (or before the open!) scan your favorite instruments and stocks to see whether any of them have generated a 'Long' or a 'Short' signal. To check for stock trading signals, simply enter the symbol for your instrument in the Grail Indicator box, and press OK.

If your instrument has indeed generated a LONG signal, it will look something like this:-

Price will now do one of 3 things. Either it will break thru the 'Long' figure shown on the chart, or it will go the other way thru the 'stoploss' figure, or it won't touch either.

If it breaks thru the 'Long' figure first, you open a LONG stock trading position for the number of shares you are comfortable with (position sizing is a seperate topic), with a stoploss at the 'stoploss' figure shown on the chart.

If price breaks thru the 'stoploss' figure first, you abandon the opportunity to trade this security, and wait patiently for another opportunity (and it WILL come!). Note that although it is termed 'stoploss', it is actually an 'abort' line - if price crosses this 'abort' line first, you abandon any thoughts of trading this opportunity and go looking for a fresh trade.

If price stays WITHIN the two boundaries, take no action, and wait for the next day, where the process can be repeated. You must wait for price to break one or other of the levels you are watching, i.e. ignore any 'fresh' signals that occur before the original LONG level or Stoploss level is hit.

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