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Strategies & Market Trends : Technical Analysis - Beginners
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To: Brian C. Lund who wrote (8935)11/20/1998 7:54:00 AM
From: Webb B Blackman Jr  Read Replies (2) of 12039
 
Thank Brian, SANG was not a stock that I purchased using TA. It was one that I had read about and thought it had long term potential. I sold all of the shares that I purchased earlier this week when the stock dropped yesterday (for a $3/share profit) but really know that buying them was the wrong thing to do. I guess that I should not have checked the market interday.

One thing that you mentioned and that I have heard many times but really do not understand is "money management". Could you recommend a good book on the subject? What I am doing now is limiting any purchase to 5% of my capital and limiting a loss on a given company to 20% of the purchase price. I tried a smaller loss percentage and it just did not work on some of the lower price stocks that I purchase.

I guess that the one thing that I am really missing is an exit strategy. I think that by using the StochRSI(14) and MACD scans, I have found a way to pick potential stocks for purchase, but really do not have a good exit plan. Most of the time, I use regression channels in GET and sell if the stock either breaks the lower channel or the 6 day moving average of the high. Not the best, but it works most of the time.

Thank you for your comments.

--- webb blackman ---
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