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Strategies & Market Trends : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: AllansAlias who wrote (38735)	5/10/2002 10:57:51 AM
From: AllansAlias	Read Replies (1) \| Respond to of 209892

wiggles This was supposed to be posted to JRI, but the hangover got the best of me. I wanted to add something JRI... Part A (previously posted): I think you know that I would never try to tell someone else how to do their business, so in the spirit of learning from each other here, I want to ask "How the hell did you get stopped out?" After it bounced up off the low (what you think is the low), it then futzed around in what you'd have to think is the first correction on the way up. If that correction does not go down to 80% of the initial pop (down to about NDX 1213 after kissing 1225), then it seems odd to me that you could get stopped out. Part B: Remember my old "middle-biter" strategy. Buying on the way down puts too much pressure on one to nail an exact bottom. If you are looking for a trade because you see a turn pending, then another strategy is the "middle-biter" entry. Wait until the thing bounces, then wait until the first time that it spends 10 minutes or more going sideways/down. Buy this down and set your stop to be the 80% retracement of the pop off the lows. For me, this was always a less stressful entry as I was not buying on the way down. All mho.

To: AllansAlias who wrote (38735)	5/10/2002 11:06:27 AM
From: JRI	Read Replies (2) \| Respond to of 209892

Semi-OT Never a problem explaining to you.. First bought at 30.50, then 30.40, then (finally) 30.18 (had to fight broker for that last price)....so that averages about 30.35 (little girl just took calculator, so I eyeballing...might be a penny off).. During that mini-run (in which the QQQs were whipping around really good- I think QQQs price was exceeding other averages on % basis...when that happens, I want the thing to bust up fairly quickly...if it hangs too long, which it did...I just assume it will fail and get out-rightly or wrongly.). On wiggle trades, if I am unsure if I've caught the bottom, I get out. I gave it longer than usual. The QQQs were trading from 30.45-30.50, but the thing just could not bust up, and as it sank, I unloaded from 30.45-30.40 (mental stop). I was not willing to risk going negative on the trade after so long. Of course, I may look like an idiot in a moment....but I have not had good experience with stuff that doesn't bounce quicker. Also, since I got in too high (on average), my pain threshold was higher than should have been. Had I gotten a better entry, I may (or may not) still be in the trade. Finally (is this WAY TOO MUCH INFO?)...I've got a lot to do starting now, and I didn't want to have to wait out the trade.