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Strategies & Market Trends : Chart Formations
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To: belker who wrote (133)1/14/1999 9:51:00 PM
From: sean sanders  Read Replies (1) of 967
 
Bob,

Well actually I'm still in ATEC I didn't place a sell stop at the MM. It was (is) more of a manual sell stop. I figured since this is a decent sized traingle I didn't need an automatic sell stop. I've seen and I'm sure you have to chart formations complete and then run back to where they were at ... ie like a dbl top completes then runs back to where the neck line was either above it or just stays under it.

I wanted to play more of the candle formations with this triangle use that as my sell tool (manual); although my emergency stop is still in place at 1/4 tic below hmm what is it ... 8 ... so 7 3/4

ATEC: hmmm now what to do. The candle is still decent but it's weakening. I would be real surprised if we have another big white candle; I'm thinking more of along-the-lines of a hammer or doji with an upper wick ... or even a small black candle.
Often times I have trouble with the sell due to (fear and greed) - a trader's worst enemy. I often get out too soon, and ;less often but more damaging, when it drops to far - get out to late. I'm tempted to get out now with a simple limit or market order ... the recent drops in the dow is almost urging me also. But that isn't much of a trading rule - get out when you're scared.

what's your opinion on the matter ...

Sean
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