[isatrader]

This chart says to "buy a close" above breakout resistance. Note, the quote says just to buy "a close" above resistance, not necessarily the 1st close after breakout. Curious and vague. I don\'t remember reading in the book to buy a close. Often, a stock will jump up and close at a high price only to tank the next morning or in after hours trading. So, I'm a little hesistant to buy at the close. I thought the book implied to just buy 1/8 of dollar above resistance. Sam's book badly needs a new edition written by him, or someone else w/expertise. The market and trading has changed so much since back then.

That's because of newer information than the book as Stan has run a service since the 1990s called the Global Trend Alert for institutional investors, so the method has evolved over the years. Which was part of the reason for me starting this site as it helped me to gather more information on the method and talk with other people trading with it.

But to the specific point you mentioned. Read the Q&A that I did with Stan Weinstein in 2013 here: https://stageanalysis.net/forum/showthre...623#pid623 The second question on false breakouts highlights the reason for buying a close instead of using buy stops nowadays.

The method took me many years to get a handle of properly, so read as much as you can, and practice every day, as there's no short cuts I'm afraid. Althought there's a wealth of information on the forum from all the years of discussions. So that should help give you a leg up if you take the time to read through.