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Strategies & Market Trends : Technical Analysis With Charts

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From: MACD X	10/3/2005 9:53:56 PM
	of 6865

JACK CHAN WAITING ON PULL BACK TO ENTER stockcharts.com[s47184904]&disp=O QQQQs AND SMH He doesnt say when he will enter and I am not on his mailing list or christmas card list for that matter but I would venture to guess a 50% retracement of the recent low would make risk attactive enough to enter. Watching Jack for several month I have noticed he will rarely enter over 3% of risk and why should he, there will always be other opportunitys and other breakout coming. controlling risk and letting profits run is key to making money consistantly. I like Jack Chans style because of the fact that it lets stock run longer than most sytems. My style is different than Jacks in that he plays breakouts and I try to pick major long term bottoms. This is the reason I use 3 year charts a lot. We both use stops that are close when we enter. I probably get stopped out more than Jacks but my hits are probably bigger. I use his style of exit although once in a positions. I also like to enter with a 60 minute chart trendline break Macd crossing the same way he does on entering when I feel I have identifyed a bottom.

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