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Strategies & Market Trends : The Final Frontier - Online Remote Trading -- Ignore unavailable to you. Want to Upgrade?

To: Allen B. who wrote (4161)	5/15/1998 11:18:00 AM
From: BBG	Read Replies (1) \| Respond to of 12617

Allen thanks for the feedback concerning Gary Smith's system. I've been paper trading it for 3 weeks... I am sticking very strictly to his criteria for selecting stocks and his $2 gain $3 loss targets... I am using $100,000 in "paper" cash and trading 500 share blocks... My record so far in a pretty "choppy" market is 12 winners ($2 gain) and 4 losers ($3 loss)... I typically have 6 - 8 positions open... So far I think the system is great. The thing I like most about it is that I pick my stocks early in the morning... Place my trades, get my fills, set my sell limits and I'm basically free for the rest of the day... One modification that I'm toying with though is not automatically selling as soon as I have a $2 gain... In almost every case my winners have gone on to much higher gains after I sold... DKB is a perfect example... I'm thinking about setting a stop loss limit after the stock has topped $2 and at least giving it a chance to keep going up before I bail... I'm also thinking about reducing the $3 loss limit to $2 as so far none of the stocks that have gone down $2 have made recoveries.... Suerte y Salud JD Oh... Another great thing about Gary's system is that when you email him directly... HE ANSWERS BACK... usually the same day... Great guy...