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Fundamentals? Some call it funnymentals. There is a new branch of
trading science called technofundamentals, available for search on google.
rgds, Pal
--- In amibroker@xxxxxxxxxxxxxxx, "Fred" <ftonetti@xxxx> wrote:
>
> Shock ? ... No ... Laughter ? ... Uh Huh ...
>
> --- In amibroker@xxxxxxxxxxxxxxx, "Pal Anand" <palsanand@xxxx> wrote:
> >
> > Actually, I would not use a Break-Even stop either. The reason
> being
> > that when one is investing for the long-term, the short-term
> > fluctuations may take out the Break-Even stop, leaving you flat.
> The
> > only stop I would use is a worst case stop-loss based on
> fundamentals.
> >
> > I find it rather silly and unnecessary to use a profit target. I
> might
> > consider using a limit order to sell at projected high of the day.
> I
> > would just exit at the open or close when circumstances warrant it.
> > When the framework of evidence collapes, the architecture is merely
> an
> > illusion, a mirage, or in other words, castles in the air. If my
> > beliefs cause shock in others, my sincere apologies...
> >
> > rgds, Pal
> > --- In amibroker@xxxxxxxxxxxxxxx, "yukitaga" <yukitaga@xxxx> wrote:
> > >
> > > Someone who shall remain nameless tossed out this gem for serious
> > > consideration (watch the line wrap):
> > >
> > > > Is exiting a portion of your trade before your profit target is
> > > > hit a viable strategy?
> > >
> > > (watch the line wrap)
> > >
> > >
> http://www.traders.com/Documentation/FEEDbk_docs/Abstracts_new/Passam
> > > onte/Passamonte.html
> > >
> > > The guy who wrote this is a real kick. ^^_^^ First, he begins
> his
> > > article with an invocation to the sanctity of mathematics, which
> I
> > > don't really have a problem with. But then he proceeds to set up
> a
> > > straw man using statistics, which Mark Twain had a commentary on
> > > something to the superlative of 'damned lies'.
> > >
> > > (If you have never read "Letters From The Earth" [Mark Twain],
> you
> > > are missing one of the great satirical writings in the English
> > > language. I don't literally ROTFLOL very often, but I did many
> > > times when reading that book.)
> > >
> > > The whole *point* of taking something off the table before some
> > > profit target is hit seems to be beyond this self-
> > > proclaimed "professional trader" who (I paraphrase) doesn't
> bother
> > > with a "few points" on the S&P, but who holds out for 5 to 10
> points
> > > or more on every trade.
> > >
> > > I'm impressed . . . ^^_^^ No, really! ^^_^^ I love taking the
> > > other side of the trade against people who know where the market
> is
> > > headed before it arrives there, and who aren't going to take
> > > any "nonsenese" from the market if it happens to disagree.
> > >
> > > But this God's gift to trading doesn't even seem to understand
> that
> > > one RAISES THE STOP when one takes a partial profit on a
> position.
> > > The whole point, the only point, and the point that counts is:
> > > DEFENSE. That is why one takes partial profits. One does not do
> it
> > > attempting to maximize profits, but to protect capital.
> > > Maximization of profit is wonderful. Hey, I'm all for it. But
> only
> > > AFTER the defense is set up. Before that, the whole idea is
> > > balderdash and hooey gooey poppycock. Perhaps someone else has
> > > better and more modern adjectives. My English is dated. In any
> > > case, defense first, and anyone who doesn't play that way is dead
> > > meat in this business.
> > >
> > > But the silly little argument with charts in that article has
> > > someone taking a profit, then leaving the stop below breakeven.
> > >
> > > Duh! Gee, I wonder why the math works out like that? *_*
> > >
> > > Sorry, but I just couldn't let that little bit of 3-card Monty go
> > > without a challenge.
> > >
> > > Yuki
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