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Strategies & Market Trends : DAYTRADING Fundamentals
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To: OZ who wrote (5579)11/21/1999 9:47:00 PM
From: TraderAlan  Read Replies (2) of 18137
 
Oz,

I don't disagree with what you said but you haven't said why you're disagreeing with me. You're describing advanced exit strategy because your position did not work out. You're a better trader because you were able to find an exit door. But you got yourself in that losing position in the first place which may have reflected on both your stock picking and stock timing for that issue at that time. Never said trading is just about knowledge. But if you got your timing right, perhaps you wouldn't have had to run for your life in that particular case.

I've been doing a lot of research on how these volatile stocks behave on an intraday basis. And the surprising thing is that they do retrace to natural fibonacci percentages and are bound by natural support and resistance as you move into larger intraday time frames. For example, trading these off a 60-min bar offers much less risk and likelihood of the black hole you describe.

Alan
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