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Non-Tech : Interactive Brokers / Timberhill
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To: rocklobster who wrote (2410)1/15/2002 6:59:04 PM
From: hypostomus  Read Replies (1) of 9012
 
Rok - Thanks. I know that trigger-pulling problem well. That's why your system has to have an inviolable rule for exit as well as for entry. While you're good naturedly taking a beating here, tell me something. Why were you short then? One of my semi-hard rules for daytrading the Q's is not to have a position between 11:30 and 1:45 eastern time except under the most compelling circumstances. I was watching it when that spike was reflected in the Q's and madly switched to my hot news to see what the hell was going on. I thought something big had happened, because it looked as someone else said like the jink from an FOMC announcement. FWIW, my philosophy is that there is an advantage to not using stops, if you're continuously watching the stock, in that you almost invariably get a better exit price if you wait 10-15 minutes after the panic. - Mike
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