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

To: bumblin bob who wrote (57969)	3/12/2007 5:50:47 PM
From: lexi2004	Read Replies (2) \| Respond to of 59879

Bob...Thanks. Lucked out on the DSTI.:) I've posted regarding this fib calculator, but maybe you didn't see it. parttimetrader.com I think it's really good for intraday trading. I have another fib calculator that I use for other than intraday. Would post it again, but site is not coming up now. However, if you do a Google search, you should be able to find some. www.google.com then Fib Calculators. Anyway...the FibCalc3 is super. The neat thing is once you buy the software, you can create as many of those calculators as you want on your screen. Let's say you are trading three stocks and you want to see the fibs as you trade, you can make three of those boxes. Next if you want to do so, you can fix the little box so it stays on top regardless of what website you go to on your computer, letting you look at your fibs all the time. Regarding where/how to place stops, there are all kinds of methods and we each have to do what works for us. If you want to use fibs for stops some people do this...I'll use LMRA's intraday retracement fibs for today: 38% = 4.57 50% = 4.38 62% = 4.20 79% = 3.94 Let's say you waited for the 62% retrace to enter and bought at 4.20. If the trade didn't go your way and you weren't willing to average in etc. you could use the break of the next fib 79% =3.94 as your stop. (Maybe using 3.92 or so since they often pierce MAs and fibs.) Another strategy with the Fib Calc is this: Decide the retrace that you want to start a partial and buy there. For example, LMRA...if you bought at the 50% retrace and it dropped to the 62% area, you could average in. Then if it went wrong, you could use a break in the 79% as a stop. First you have to get a feel for the stock you play. If a stock is strong, it may only fib to the 38% fib during the day. I played GNBT a lot when it was a hot stock and it regularly dipped to the 50% fib during the day and I could just place my buy there. Many times I bought .01 above it for lots of other people buy at that fib and not everyone will get filled, so I'm a "sport" for .01. LOL Okay, some ideas for you. If you like them, you can do paper trades doing them until you get the feel or even see if you think they will work for you. Lexi