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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: seismic_guru who wrote (3953)	3/11/2000 11:26:00 AM
From: keith massey	Read Replies (1) \| Respond to of 4467

SG Buy stop are one of many tools of a great trader but not for every trade. However I don't want to get stopped in just to get whipsawed right out again, this is especially true for futures. The floor will often run the stops to suck in the last wave of buying right before they take it done again. Look how many times have you seen a major resistance point break, the stock do a huge spike then turn and go the other direction. I would much rather watch all the action leading to the break of the resistance and decide using all the tools at my disposal if the stock will carry through or whipsaw. Now with that being said, there are several places and stocks where buy stops are a handy tool that I do use. For example, the break of a very tight flag with a stop just under the low of the flag. Best Regards KEITH