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Strategies & Market Trends : Technical Analysis - Beginners -- Ignore unavailable to you. Want to Upgrade?

To: Ronald P. Margraf Sr. who wrote (11665)	3/10/2001 2:40:52 AM
From: Michael Watkins	Read Replies (1) \| Respond to of 12039

I think what Dick was pointing out is that money management is the important factor in success. You can't live to fight another day if you keep taking mortal wounds. BBs don't have stops. You can't place a stop Then don't trade them. They don't have stops and it sounds like the rigour of stops would be a beneficial tool for you - it is for most every trader. You have choices - exercise them. Find something else to trade. I do not position trade any market that doesn't allow me to put stops in. Brokers in Canada do not provide even simulated stops on Nasdaq - so I do not position trade Nasdaq unless I am going to be in my office every day while the position is on. This isn't always possible for me as I travel frequently, so for stocks I therefore prefer NYSE and TSE. Stocks, futures, whatever - when I place a trade I *immediately* place my stop. Every time. And I could care less if it is hit. That's part of the business. Technical Trading is much more than finding a bunch of indicators that line up in magical ways. Trading is simple, but its not easy. Regards Mike

To: Ronald P. Margraf Sr. who wrote (11665)	3/10/2001 11:52:37 AM
From: Dick Brown	Read Replies (1) \| Respond to of 12039

BTW I didn't mean buy MOT every time it went down 2%.. My sell(stop) would be at a price near or equal to 2% of my trading equity (if I bought at the wrong time)..Having said that..If MOT was in an uptrend ,I don't know what the % would be, and you bought on a retracement that seems like a valid method..Of course when it turns over to a downtrend you will probably loose 2 or 3 times before you recognize what is really happening..The change in trend.. I don't deal in the $$ you have suggested that you deal with..