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Strategies & Market Trends : Technical Analysis - Beginners
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To: BuddyW who wrote (9851)3/15/1999 2:44:00 PM
From: Michael Watkins  Read Replies (1) of 12039
 
Buddy,

Hey thanks for that, you've given me a good idea. I'll try to write a scan that identifies a string of multiple inside days and tests them for reversals. Some of my software allows for backtesting (WOW).

I'm not planning on trading on inside days, just looking see if there are instances where this pattern adds useful meaning.

Best of luck in your pursuits. You should come out of the wood work more -- posting is a good way of exercising your brain and I think everyone around these parts is looking to contribute and assist. You don't need to feel you have all the answers or even some of the answers! Gosh, I sure don't.

The only thing I fear is leading someone astray involuntarily. But I believe each is his own master and must chose what to follow and what to discard.

Follow a trend! Sell in times of adversity. Better yet, figure out where you are going to sell (or close your position) before you place the buy order (entry). Anyone feel free to correct me if I'm off base, but I think most people should spend far more time determining how/when/why to get out of a trade rather than spending 90% of time on "entry". Another shocker for me was to expect more failed trades than you'd imagine, and you can still do well. It all comes down to having funds to play the game yet another day.

Everytime I allow myself to forget that rule I do regret it.

Cheers
Michael
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