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Strategies & Market Trends : Classic TA Workplace

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To: AllansAlias who wrote (38735)	5/10/2002 10:57:51 AM
From: AllansAlias	Read Replies (1) of 209892

wiggles This was supposed to be posted to JRI, but the hangover got the best of me. I wanted to add something JRI... Part A (previously posted): I think you know that I would never try to tell someone else how to do their business, so in the spirit of learning from each other here, I want to ask "How the hell did you get stopped out?" After it bounced up off the low (what you think is the low), it then futzed around in what you'd have to think is the first correction on the way up. If that correction does not go down to 80% of the initial pop (down to about NDX 1213 after kissing 1225), then it seems odd to me that you could get stopped out. Part B: Remember my old "middle-biter" strategy. Buying on the way down puts too much pressure on one to nail an exact bottom. If you are looking for a trade because you see a turn pending, then another strategy is the "middle-biter" entry. Wait until the thing bounces, then wait until the first time that it spends 10 minutes or more going sideways/down. Buy this down and set your stop to be the 80% retracement of the pop off the lows. For me, this was always a less stressful entry as I was not buying on the way down. All mho.

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