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John :
NITE : II would sell at the opening of 14/7 !
Have no position but no buying for me today (14/7) that's for sure.
was in holday when one of the good trades according to my system was :
Buy : 24/5 at open : 26,00
Sell : 5/6 at open : 34,56
would have been a nice gain ..........
And last trade : Buy at open 11/7 : 27,38
Sell at open 14/7 : ??? (not open yet european
time).
Theo Lockefeer.
----- Original Message -----
From: "John Manasco" <john@xxxxxxxxxxx>
To: <metastock@xxxxxxxxxxxxx>
Sent: Thursday, July 13, 2000 10:05 PM
Subject: Re: Good Knight
> I'll try to address questions from several people in one reply so here
goes.
>
> First off I didn't open my position yet because I want to open on a
> pullback. If it doesn't occur tomorrow I'll probably dive in anyway.
>
> I plan to set an initial stop loss at 27 15/16 which is the 50 day ATR.
I'm
> going to use end of day charts for this trade, no monkey business in the
> middle of the day. My target will be the high of 6/2 which was 35 1/2.
> However if and when I reach that target I'll probably employ the
Chandelier
> and yo-yo exit strategy Chuck LeBeau uses. I have no specific time frame
in
> which to reach that target but if things start to seem stale I may look to
> reallocate some or all of my money into another trade.
>
> I use a simple moving average on the ATR.
>
> My total portfolio risk on this trade will be only about 1%.
>
> I'll have house guests all weekend so if I'm slow to respond please
> understand. (Slower than normal) But do understand I don't mind posting
> trades because I learned from some very helpful people before me who were
> kind enough to walk through some of their trades every now and then.
>
> Regards
>
> John Manasco
> ----- Original Message -----
> From: Al Taglavore <altag@xxxxxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Thursday, July 13, 2000 10:55 AM
> Subject: Re: Good Knight
>
>
> > My 2 cents worth. I would set the exit at 27 15/16 which is one tick
> below
> > the 7-11 close and coincides with the 50 day ATR. If your trade is
> > correct, I would expect to hit resistance (and take a profit) at 35 1/2.
> > Then the question would be at what point you would execute re-entry. If
> > the exit is too far from entry for your risk/reward level, then I would
> > pass the trade.
> >
> > What is your time frame, John? If short term (1-3 days), look at the
> > relationship of the low/close of 5/24 to the close of 5-30. This is
> > something I have been working with that has been profitable, but I have
> not
> > extensively tested. If interested, I will share with you off this list.
> >
> > I write this to counter a comment that was posted yesterday that "real"
> > traders don't discuss trades. I will gladly discuss any trade (winners
> and
> > losers).
> >
> > Al Taglavore
> > ----------
> > > From: John Manasco <john@xxxxxxxxxxx>
> > > To: Metastock List <metastock@xxxxxxxxxxxxx>
> > > Subject: Good Knight
> > > Date: Thursday, July 13, 2000 7:49 AM
> > >
> > > I'm considering a position in Knight/Trimark symbol NITE. The stock
and
> > > sector both seem to have bottomed (may be a big assumption) and are
> > turning
> > > up. It closed yesterday (7/12) at 30 11/16. It crossed significantly
> > above
> > > its 10 day ma but is still below the 200 and 50 day ma although it is
> > > bumping up against the 50. The 50 day ATR is about 2.75. If I enter at
> > > yesterdays close of 30 11/16 and only want to risk 2% on the trade
then
> > I'll
> > > put my stop at 30 1/16 which is only 5/8 away from my entry. If I use
> the
> > 50
> > > day ATR the my stop will be about 27 15/16. If I use the near term low
> on
> > > 7/10 of $27 I would place a stop at 26 15/16. So where would you place
a
> > > stop? What is a reasonable risk profile for this stock?
> > >
> > > NITE's most recent high on 6/02 was 35 1/2 so what could I expect to
> make
> > on
> > > the trade?
> > >
> > > Comments requested
> > >
> > > John Manasco
> >
>
>
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