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

To: shasta23 who wrote (5463)	11/15/1999 9:07:00 PM
From: TraderAlan	Read Replies (3) \| Respond to of 18137

Stefan, I use a RSI 14,7 for daily charts. If I were shorting it based on the daily, it would always be the pattern first supplemented by the RSI turning down from overbought. When I put my Bear Hug list together for Morning Trader each day, am always looking for that in conjunction with the pattern. Many stocks are passed up if RSI is turned the wrong way. More wiggle room because your stop, 26 1/4, says absolutely nothing about you being right or wrong. The point of exiting is to leave the trade when you're proven wrong. That also means finding trades where proving yourself wrong is within your risk tolerance. The "1-2" points would show a break of the down trendline with some good measure for noise. Alan