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Strategies & Market Trends : Systems, Strategies and Resources for Trading Futures -- Ignore unavailable to you. Want to Upgrade?

To: Tom Trader who wrote (2340)	8/24/1998 3:35:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 44573

I just recalled another "stop" method I occasionally use... Ye, the decline over the past 35 minutes has me back. I used it alot some time ago; I still glance at it for confirmation now and then. Looking at the prior 4 five-minute tick bars I used to close if the market ticked back to the most recent high (or low, in a long) in the prior 4 bars. It was a sort of confirming relationship that the market was still trending in my direction. An example might be if the high (on a short) at 1 to 1:05 was 1100 and it's now 1:22 ...the 1100 being the highest the spoo had been in the past 4 bars, then that's where I would close out the trade per a stop. Once the bar started to form at 1:25 the stop point would be the most recent high since 1:05 and so on. At that time I also had the tendency to just close everything out on spikes but don't so the entire dump, any longer. But the point of that method was to ensure that the market had not stopped trending and instead was consolidating for a bounce. Just a thought. I may even go back to using that once in a while myself. So this conversation has helped me, at least. Drat. Missed the buy again.