Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Stock Attack II - A Complete Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Chris who wrote (4317)	3/27/2001 5:45:12 PM
From: Terry Whitman	Read Replies (1) \| Respond to of 52237

I've got a lesson to share. It's called "When to use market orders," or "How I was right about the direction, but wasted a day and a half chasing a stock up waiting for a dip to buy." <g> Kept placing limit orders on GP just under the price, and it kept running away from me. I'd raise the bid when it would break a resistance level, and it just kept running up. Never did get in, and missed out on the all the gains. Guess that's what they call a runaway market. Oh well, when everyone wants in, it's not usually the best time to buy anyway..

To: Chris who wrote (4317)	3/27/2001 5:55:37 PM
From: Magnatizer	Read Replies (2) \| Respond to of 52237

Chris, Looking like I may have dipped in a bit early too. I plan on filling up my bucket tomorrow/Thursday. Prolly gonna see 10120ish. The pullback from there may only see 9860. If it does I will get as long as I can stand. ht Mag

To: Chris who wrote (4317)	3/29/2001 1:31:11 AM
From: Chris	Respond to of 52237

As a personal reflection to the readers, that trading is a number's game. According to John Murphy, the best traders are 40% correct. I would put that number to maybe 60% correct. What that means, that as long as your winning trades are larger than your losing trades, you will do fine. There will be signals that will be wrong, but as long as you have an EXIT plan, you should be fine. Losses will be happen no doubt, but the size of the loss is the key. My view is that if the buy signal does not work, it doesn't mean the system is wrong. It means that it's one trade for the loss column. Stop out and wait for the next signal. No trading system is 100% correct. So I caution the readers here to read our posts on this thread, but always have your own discipline of getting in or out. I cannot stress this topic enough.. because I dont people to follow blindly.