Metastock 6.0 for Window Message Board

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Strategies & Market Trends : Metastock 6.0 for Window

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To: compradun who wrote (3156)	6/30/1999 12:54:00 PM
From: Richard Estes	Read Replies (1) of 4056

I am not going to provide you a specific system here. But give you some things to think about. Using EOD programs for daytrading leaves you to look for patterns of contraction or expansion. They basically only offer you entry not exits. With EOD for exits, you get into muti-days of trading. Daytrading suggest you are using RT data or charting. Only a few offer system testing making the day trade results even more risky. There are two ways to look at % results. (1) are the wins big and losses small? you can make a fortune on that one. (2) how many stocks over what period of time reflects such results? Too often in RT there is not sufficent data to determine the reliabity of a system. Daytrading with the small % trades often are best traded with support and resistance measures then indicators. Gann and FIB play a role with moving averages. Stock selection remains the important factor, no matter how you trade. Your concern in daytrading makes fundamentals a very minor issue, Price and volume are the controlling factor. You might be trading wrong stocks for your systems. Now, what systems are you using? How do you use them?

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