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

To: heehee1 who wrote (50354)	8/16/2002 11:49:32 AM
From: AllansAlias	Respond to of 209892

Stops are set at extremes, so it only stands to reason that there is a very good chance that one gets stopped out at a turn. Of course, over time, one learns not to be too exact with one's analysis, as it's clear to even an intermediate trader, that things will push over an obvious point to suck-in the chart chasers. Still, when it gets hit, you are gone, likely after the first batch of TA-heads and you are often blown away before a turn. So what. For me, I am more oriented toward risk-aversion. I see it all the time here and on threads like SAII: "This line is toast" or "that fibo level is taken out" or whatever they say when a barrier is crossed. A couple of hours later one sees that it was not a break at all. We saw it this week on the Dow when folks thought the uptrend line was gone. You can read it 50 times a day on SI. Another example that comes to mind is when I was trying to buy the Dow last week at 8160. My stop was too tight in the end and I missed a great rise. I lost faith in my trade; in my analysis -- a trading mistake, and I make my fair share. Everybody at the end of that day was thoroughly convinced that the Dow would test 8000. It never did.