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 : TATRADER GIZZARD STUDY--Stocks 12.00 or Less..... -- Ignore unavailable to you. Want to Upgrade?

To: TATRADER who wrote (28157)	3/7/2002 12:51:53 PM
From: Mike Sawyer	Read Replies (1) \| Respond to of 59879

I caught the first leg of the CPN move but I sold at my first target and took a nice profit....should have held one day longer though...the H&S pattern was very strong! One thing that keeps ringing in my ears...a couple of years ago I was at an Advanced GET seminar. A guy by the name of Mike Quambeck was speaking....he is a very good TA style trader. He manages over a hundred million in institutional dollars and has his own seat on the Chicago exchange....he is a big futures trader. Anyway, he talked about how he sets his targets and unemotionally sells half his position when his target is hit. Then with the other half he holds on a little longer to see if he can catch those nosebleed moves....if he does then he sells into those for even greater profits...and if things get weak he starts selling at the first sign of weakness. This way he has locked in profits on 50% of his position and that gives him a little wiggle room on the 2nd 50%. Then if it weakens he sells it on the backside of the move but still at a profit. But those extension moves can really be lucrative. I've gotta work on trading like that. Cheers!