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Strategies & Market Trends : DAYTRADING Fundamentals -- Ignore unavailable to you. Want to Upgrade?

To: - who wrote (1158)	6/20/1999 4:18:00 PM
From: Rick Faurot	Read Replies (4) \| Respond to of 18137

Steve, Found a program which eliminates the Datek banner!! siemens.de Yessssss!!!!! Rick

To: - who wrote (1158)	6/20/1999 4:44:00 PM
From: keith massey	Read Replies (1) \| Respond to of 18137

Steve.. Great post on Stops. I was fairly sure that stops couldn't be used on the NASDAQ but wasn't aware of all the detail on emulated stops. On the Canadian Day Trading threads I constantly preach the use of stops to the novice traders. In Canada, without a fast connection you can get trap in a falling stock and lose the farm. I am forever answering the question "were do I put my stop". Although many people place them at the point of maximum pain I always try and determine a good resistance level (from EMA, price, Fib., etc.) and place it just below that level. Sometimes it is a tight stop and sometimes it is a loose stop, however it is always within my pain threshold. As the stock moves I will bump the stop up to the next resistance point (standard following stop method). The placement and use of stops is rarely discussed on the thread or in books other than a couple lines here and there (e.g. stops placed just outside of pattern). I personal think that good and consistant exit stratergies (ECN player with a quick finger or stop losses) is one of the main keys to a successful trading program, day trading or position trading. Best Regards KEITH