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Politics : Welcome to Slider's Dugout
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To: SliderOnTheBlack who wrote (7639)1/10/2008 9:34:13 PM
From: JimisJim  Read Replies (1) of 50579
 
When you say move the stops up tight, what do you mean? 5%, 7%, 3% 0%?-- what's tight?

Your new money line suggests the new support is only 7% below 468... if one sets stops at say 2.5% below today's close, the odds of being whipsawed seem quite high -- they run the stops early in the session and then run up again and leave me without any position (not all of us can daytrade as we have day jobs).

I'm sitting on 11%-27% gains on my gold miners and GLD, all positions 2-4 weeks old... I am unable to do options in that acc't.

What advice can you offer swing traders w/out options available to them? We want to play gold, too, but can't watch our positions all day and must set stops either before or after market and may be able to make a trade or two during lunch or other "down" time not of our choosing during market hours.

I can set trailing stops... but again, how tight to maximize potential w/out being whipsawed out of our positions and be left behind?

I haven't tried applying dabum's rules for mo-mo trading to gold or miners. Would that work (selling when share price hits upper BB set to 20,1)?

Gold and miners are about 25% of my PF at the moment w/ about 20% cash (35% energy) so my risk tolerance is fairly high, but not infinite.

Thanks,
Jim
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