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Non-Tech : Interactive Brokers / Timberhill -- Ignore unavailable to you. Want to Upgrade?

To: Dan Duchardt who wrote (2479)	1/18/2002 5:46:57 PM
From: Michael Watkins	Read Replies (1) \| Respond to of 9012

I was long at the circle on the left chart - 1M timeframe. (posted this yesterday on another thread) trendvue.com And first exit was in the congestion just before the quick spike through 1600. I fully expected it to spike but have rules and gut feel about capturing the bulk of profit on a good move when the move slows down. I was stalking the move based on the 15 min chart - a declining wedge of some magnitude plus some obvious targets up above, not that far above either - seemed like a good percentage opportunity. trendvue.com Having this sense for what it might do, I would not and did not attempt any shorts at that point. When its moving with speed, the pullbacks are for joining the trend not fighting it. My stops were protect profit stops therefore, and since it didn't take long to move to break even / profit on the trade, I follow the move up with somewhat loose stops until the trend starts to weaken and then I tighten gradually at first and then very tight to capture the most profit. You can see on the 3M that it didn't even make a single down bar until near the 1600 range... On the 15 min chart I was drawing I knew there would be an opportunity to get in early; missed the earlier opportunity through distraction or boredom or something. Or was making a sandwich! Today after all the chop there was this classic setup. I caught this move right at the top, a small spinning top on the 5 min chart above the apex of a triangle that had been forming. The average range was at the lowest in many days. Something had to give, was short just under there. trendvue.com However my ADSL provider decided to cut off parts of the internet for a period of time and I wasn't able to play this one out all the way down, and through my own fault fumbled getting reset to take advantage of a few of the pauses that presented entry opportunities. C'est la vie. I'm told communications networks are troubled by some Mercury Retrograde thingy happening right now. Can't say that I can follow that one but certainly saw more comm. problems these last 24 hours than I am used to seeing... sorry for the novel. Michael