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 : Classic TA Workplace -- Ignore unavailable to you. Want to Upgrade?

To: nspolar who wrote (86680)	12/1/2003 8:08:47 PM
From: bcrafty	Read Replies (1) \| Respond to of 209892

nsp, thanks for the LT perspective on DROOY On the two year weekly chart below I see DROOY in a giant triangle from shortly after its highs in the late spring of '02 (geez, that's a long time) with a breakout of that triangle possibly looming ahead around 3.40, which would be the point at which conventional TA would signal a buy (but not before then). stockcharts.com[h,a]waclyyay[de][pb50!b200][vc60][iLah12,26,9!Lb14]&pref=G Will Drooy take off tomorrow? Shit I don't know and I don't care all that much In order to understand why you don't care that much, I need to know what kind of stops are you using. I seldom look at weekly or longer timeframe charts because (a) I'm usually not that long term a trader and (b) one has to use some pretty wide and loose stops to successfully trade those timeframes. Say, for example, I bought DROOY a few weeks ago when it it 3 for a couple of days. Well, even if I had a superwide 20% stop I would have had it blown out a few weeks later. That's a stop so wide that most traders on this board wouldn't have one like that. I appreciate your comments for two reasons, which are that you trade golds more than I do and you have a different timeframe to your trades than I do. And your points are well taken on the longer timeframe charts. But I have just a few more general questions: (a) how do you then determine your entry on the daily once you see a setup you like on the weekly, (b) what stops do you use, and (c) do you ever find yourself thinking "Although I feel that I'm going to make money on this stock one of these days, even if it's months from now, wouldn't the money on this trade be better placed on another issue, one that is showing more of an uptrend right now?" and if you do find yourself occasionally thinking that, than how do you deal with that issue? On another topic, take a look at this copper stock. It's tripled since I started following it this past spring stockcharts.com[h,a]daclyyay[de][pb50!b200][vc60][iLah12,26,9!Lb14]&pref=G