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Strategies & Market Trends : Ask DrBob

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To: iowamann, Spam Queen who wrote (33267)	5/10/2001 3:40:01 PM
From: stan_hughes	Read Replies (1) of 100058

Iowa - Well, I can't speak for other people, but I've been known more than once to lie in the weeds with a price limit (long and short) if I think it's a good strategy. In that sense I suppose it represents anticipation rather than confirmation of a move. Does that disqualify me as an official TA trader? And does it matter? Funny thing about TA - it's a lot like FA in the sense that it's wide open to different methodologies and interpretations. I calculated my $7 RMBS target based upon some simple 'measured move' arithmetic I've come to rely upon. The guy at the next desk might think my math was invalid and get a different answer. Of course, if everyone was always right and we all used the same system and got the same answers all of the time, the market wouldn't be much of a market, would it? The absurdity of that circumstance is not lost on me, Iowa, and there's no big ego here thinking he's smarter than Mr. Dow and Mr. Jones just because I've got a chart in my hand. I'm just trying to use my limited cranial capacity to gain an advantage to earn a living, which I now need to do here at the close. Good trading to ya.

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