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Strategies & Market Trends : TATRADER GIZZARD STUDY--Stocks 12.00 or Less.....
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To: Rashid Garuba who wrote (24973)9/7/2001 4:49:26 PM
From: NW_Trader  Read Replies (2) of 59879
 
Hi Rashid,

Well, back to the books and charts for me this w/e - My support and resistance drawing and/or setting limit orders needs some work. Had limit short set for QLGC at 27.5 - you guessed it, almost got there, but not. So many others today like that, I'd get sick listing them and would sound like I almost know what I'm doing. At first blush, I think my mistake in setting orders is placing them at natural pivot points - I should place them a couple pennies short of the pivot - like 26.4 for QLGC. Just give up that dime and get the trade. Of course, need to consider the spread that generally prevails as well; a dime wouldn't have gotten TQNT for me this AM - 11 cents would, so perhaps 16.15 as the spread is often a nickel or more, and I had 16 as support.

And got to believe in my analysis - SLNK didn't seem to have gone the way I expected and I killed the order, it would have filled by end of day. Left a lot of potential $$ unclaimed this week - need to sharpen up next week. At least I'm mostly in cash going into the w/e.

Have some good down time everyone - will be in and out, fall is in the air here and it's soccer season again.

Peace and Justice --- Patrick

Edit: thanks for link - will study this w/e
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