Befriend the Trend Trading Message Board

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Strategies & Market Trends : Befriend the Trend Trading

SPY 689.10

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Jan 23 4:00 PM EST

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To: Knyyt who wrote (14442)	1/6/2001 7:09:56 PM
From: Dr. Stoxx	Read Replies (1) of 39683

Yes, fair enough on stops. We all use them, if only mentally. And agreed, they need to be in place if you cannot monitor the market regularly. Just be sure you put them at 1/16's, and not round numbers, which tend to get hit by the MM's more frequently. I've had bad experiences with stops. I'll set them at some predetermined level (3% seems a bit tight to me...even for hourly charts...but say 5%) and I'll go away for a day or two and come back, only to find myself stopped out on some weird downdraft in price and the stock trading way above it... When I was first looking at the MAX system, I discovered that most good MAX candidates hit a 3% gain after every signal, even if they then turn around and fall off for a loss. One thought I had then, purely mechanical, was to set a 3% profit limit order for half of my position, and then trade the other half on the signal. Just a thought... TC

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