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Strategies & Market Trends : DAYTRADING Fundamentals

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To: Eric P who wrote (66)6/6/1999 12:32:00 PM
From: David L. Carter  Read Replies (2) of 18137
 
Eric,
Great Thread!

One question I have is identifying the right price to stop a loss or to enter a stock. Most all my loses have been from trying to estimate when to jump back in a stock. I was up 400%+ ytd until a month ago. Since that time, I have lost a decent portion of that gain trying to jump back in the market when I feel it was coming back, only to be wacked on the side of the head. I then think I will wait it out a little more holding, hoping the market will turn back, only to have my profits wittled down further. The reason I am anxious to be in the market is that it seems that when the market returns it returns big. Missing that one day could be 20% or greater.

Do you or anyone have any advice on setting proper entry, exit prices on stock/market. I just switched to Cybertrader which will allow me to set a trailing stop loss on NASDAQ, NYSE issues. One hears about stochastics, moving averages, MACD etc. I would be interested to hear of anyones experience in setting the parameters for the buy sell. One of the fears I have had is setting an electronic stop loss is the market for a particular stock will drop suddenly from some erroneous trade triggering my sell and causing me to miss the upside.

Thank you in advance.

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