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Gold/Mining/Energy : Day trading in Canada -- Ignore unavailable to you. Want to Upgrade?

To: The Devil Dog who wrote (1826)	12/16/1998 12:32:00 AM
From: Wizzer	Read Replies (1) \| Respond to of 4467

Off topic - Well, it's official. I am an internet junkie! My statement from my internet service for last month said I was on-line 118 hrs. last month. That's almost 5 days or 16% of my month. Sheesh! I know it'll be more soon, but I bet some of you are worse than me. The internet is so enjoyable. So much information and interaction... it boggles the mind. Lovin' the 90's and soon the 00's. Regards, Wisam

To: The Devil Dog who wrote (1826)	12/16/1998 9:06:00 AM
From: the Chief	Read Replies (2) \| Respond to of 4467

My approach. Stops are a product of what you expect for reasonable profit. If I buy a $5.00 stock I want as a minimum a .30c profit....so I put my stop at $4.70 If the stock starts upward I follow with a trailing stop back .30 until it gets to $5.30 then I will look at the momentum if it looks like it will go higher I let it ride a little longer...but I TIGHTEN MY STOP to a .10c tolerance. If the stock gets to $5.40 then the stop stays at 45.30 no matter what....then I just look for an exit! the Chief

To: The Devil Dog who wrote (1826)	12/16/1998 9:24:00 AM
From: Wizzer	Read Replies (1) \| Respond to of 4467

It is tough to pick a good stop Wayne, and I have had a lot of trouble also. A lot of times, you think you are safe with your STOP only to get it activated on a temporary dip. I have seen the Market Depth run downward so quickly, as other STOPS are hit one after the other. It is usually a few seconds depend on how much it is trading that day. Definitely, it happens too fast to react to. I am beginning to believe that I would rather have a really tight stop a lot of times (less than a nickel behind the trading), when I am at the point where the trade has already netted me 10-20%. Of course, these decisions are always tough ones, but I would rather be in the money and accidentally get a stop hit than cost me money. Hindsight is always 20/20. Use the depth, and find a spot to tuck in your STOP LOSS. For example, tuck it under a large BID or over it if you want. If a stock is trading at 75, then 69 cents might be a good STOP because 70 cents can be a resistance point. Same goes for breaking over a dollar, which could have the stop placed at 99 cents, etc.... As you mention, this is somewhat subjective and can vary greatly from trade to trade. Regards, Wisam