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Strategies & Market Trends : Chart Formations -- Ignore unavailable to you. Want to Upgrade?

To: belker who wrote (133)	1/14/1999 9:51:00 PM
From: sean sanders	Read Replies (1) \| Respond to of 967

Bob, Well actually I'm still in ATEC I didn't place a sell stop at the MM. It was (is) more of a manual sell stop. I figured since this is a decent sized traingle I didn't need an automatic sell stop. I've seen and I'm sure you have to chart formations complete and then run back to where they were at ... ie like a dbl top completes then runs back to where the neck line was either above it or just stays under it. I wanted to play more of the candle formations with this triangle use that as my sell tool (manual); although my emergency stop is still in place at 1/4 tic below hmm what is it ... 8 ... so 7 3/4 ATEC: hmmm now what to do. The candle is still decent but it's weakening. I would be real surprised if we have another big white candle; I'm thinking more of along-the-lines of a hammer or doji with an upper wick ... or even a small black candle. Often times I have trouble with the sell due to (fear and greed) - a trader's worst enemy. I often get out too soon, and ;less often but more damaging, when it drops to far - get out to late. I'm tempted to get out now with a simple limit or market order ... the recent drops in the dow is almost urging me also. But that isn't much of a trading rule - get out when you're scared. what's your opinion on the matter ... Sean

To: belker who wrote (133)	1/14/1999 10:24:00 PM
From: sean sanders	Respond to of 967

Bob and Russ, Well actually from relooking at CUBE ... looks as though if I were to have invested placed a buy stop I'd be looking at a loss so far. I mean if you look at the candle that appeared 2 days ago ... it was a big white candle so I would have been sold in at a low price then it would have went higher. Something more complicated like a limit sell stop perhaps could be used; but I dont have much experience with placing them. So far the only thing I have on this one is: This is why they suggest you play a dbl top after it crosses the measured move. But like usual that isn't good enough for me I want to see if I can play them at the top of the second peak. any suggestions? Sean