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Strategies & Market Trends : Trade What You See, Not What You Think -- Ignore unavailable to you. Want to Upgrade?

To: chris- who wrote (542)	5/8/2001 12:26:18 AM
From: TraderAlan	Respond to of 867

Chris, There is nothing about scaling at HRE. An oversight on my part. Master Swing Trader has material on it, mostly as catch-up on my point of view...which changes with the times. My background is strictly 100% in and 100% out (you know, $100 on Flicka to WIN in the 8th race). I've always been more successful in single, direct price moves, and have a sordid history losing gains by sticking around too long. I'm such an opportunist that I want it now and don't have the patience to babysit a position or even let profits run. This is my shortcoming, not the shortcoming or preferred approach for others with more stomach. What I teach is scale in only if you're ready to go after 2 or more price thrusts, with an expected retracement in between. Then 100% out when you make your move. This requires a really good initial entry price, because the retracements will kill you. The reason for the 100% out is my philosophy on exits, ie selling into resistance or the happy-happy crowd. No wait for confirmation or a call from your mother. When the chart says resistance, jump ship. Scaling has more association with pure momentum trading, than swing trading, because you expect prices to run. When you're working the boundaries, you take what you get and buy the kids some sneakers. Alan