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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude -- Ignore unavailable to you. Want to Upgrade?

To: ivan solotaroff who wrote (10448)	1/12/1998 12:39:00 PM
From: Esteban	Read Replies (3) \| Respond to of 79262

Ivan, Thanks for the clarifications. 1) Haven't signed on to the 3-day rule yet, tho' Doug's not wrong too often. I would definitely exit any PGDCEB if it fell to or below my entry point. Bottom-fishing of any kind is only permissible if your risk can be calibrated. 2) I think, in reality, if volume were greater than previous three days but price was trending up or steady, I'd hang in and sell only on first sign of weakness, tho' my guess is it would probably happen before noon the following day. Here's my current understanding of your exit system. 1) You will sell your stock at any time the price drops below your entry price, regardless of how much time has expired from the signal day. 2) After the 3 post signal days are history, you will sell (or reverse) your position if the day's volume is greater than any of the previous 3 days and the price begins to falter or stops rising (basically breaks the steepest possible valid trendline.) I hope I'm not coming across as the fly in the oitment in my quest for precision. I really think it's important to nail down the system in advance to fairly evaluate its performance. Feel free to change your ideas about any aspect of trading these PGDCEBs, and we can apply them to future signals. Or propose any alternate ways to trade the cats that you feel have potentail. I'm not trying to carve anything in stone. Most of my own trading ideas that looked so promising didn't pan out due to overlooking those pesky "details." I now try to quantify a system I'm evaluating as much as possible before embracing it. Do you wish to further refine the your definition of a PGDCEB candidate beyond the 30-30 rule? Limit it to a mimimum average daily volume criteria, or limit it to your accordion style price and volume pattern before you'll accept signals? Or ???? Esteban