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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: Roger Schelling who wrote (34580)	3/11/2000 1:19:00 PM
From: Doug R	Read Replies (2) \| Respond to of 79230

Roger, To know which lesson to apply to a situation calls for a set of rules developed for each situation. What I have done is define several situations based on what stocks do. Examples are the MIMBO formation and its components (MIM, MDTL, BO, Retest, Pegline), the IL/ACT/RR, the 3 dRSI trick, Temporal Clearance, the PGDCEB (Post-Gap Dead Cat Exhaustion Bottom), etc, etc.... Each situation I've defined is designed around high probability for significant % potential. When I recognize what a stock is doing, I can manage a trade based on the rules. If a stock is doing something for which I don't have a set of rules, I don't bother with it. If the stock deviates from the defined situation and does not revert to another known situation (such as a 3 dRSI trick reverting to a 4,3,2 stochastics IHS breakout or something) I will tighten stops. With practice, it becomes, well I can't use the word "easier"....how about...less difficult. Have a good weekend, Doug R