The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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To: Judith who wrote (27292)	3/11/1999 4:32:00 AM
From: Doug R	Read Replies (1) of 79536

Judith, The posts concerning 2 of those trades were made by Alski at my request. I wasn't able to access the internet at the time. They were posted on or about 2/7. I'll have to look for the other one if need be. The post you referenced described a trendline (the ACT) that is normally a stop. I try to make clear that I strongly recommend using pre-decided upon trend lines as stops. Different trend line "setups" dictate different treatment depending on one's time horizon (based on technicals) for any trade. It is very advisable to exit upon breaking below a possible ACT (as an ACT is defined). When the chart requirements for what constitutes an ACT are met, that doesn't guarantee that it will hold so it can be used as a known risk area when entering a position. Every once in a while, a stock goes IL from any given possible ACT Whatever happens, one way or the other, establishing a position immediately after a possible ACT (the definition is very strict so it doesn't occur often) gives you excellent potential and a known risk. Following any initial movement up with a trailing stop, decreases the risk. Doug R.

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