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Look at a situation where price makes a new 20 day high, then closes below
the open of the day. The next close below the low of the day the new high
was made often signals the current trend has ended.
Depending upon your risk tolerance, you could wait until the second close
below the low of the high day.
Of course, the reverse would apply if the price was trending down. That
is, if price makes a new 20 day low, then closes above the open of the day.
The next close above the high of the day the new low was made often
signals the down trend has ended. I will usually enter at one tick above
the high of that day.
Now, to keep the matter from being too simple, what correction period are
you referencing? Five minute bars, hourly charts, daily, weekly, quarterly,
yearly......Its is all relative to one's time frame.
Works for me.
Al Taglavore
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> From: Vignesh <vignesh@xxxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Dumb questions
> Date: Wednesday, November 01, 2000 10:22 PM
>
> speaking of dumb questions how about "are there any rules that one can
use
> to decide when a correction has turned into a reversal?"
> ----- Original Message -----
> From: <Mullin285@xxxxxxx>
> To: <metastock@xxxxxxxxxxxxx>
> Sent: Wednesday, November 01, 2000 9:24 PM
> Subject: Re: too much for me--lets get on with it
>
>
> > I certainly do not want to be negative or keep any negativity alive but
> ...
> > IMHO the issue is not related to technical disagreements. It seems to
me
> that
> > it is much more related to civilness, humaness ...
> > Forums like this are designed for exchanges of ideas, preferably in a
> civil
> > and nurturing manner. When people are criticized, rebuked and called
nasty
> > names for asking a question or giving their opinion, there is a
tendency
> to
> > stifle a lot of other peoples contributions.
> > I am not trying to keep this going, just trying to ensure the issue is
> > defined properly.
> > I feel that the best way for me to contribute is to ask the dumb
questions
> > that everybody else is too embarassed to ask. So ... let me go think of
> some
> > really dumb questions now. Any ideas from any one? :)
> > Chris
> >
> > In a message dated Wed, 1 Nov 2000 6:48:35 AM Eastern Standard Time,
> > "Vignesh" <vignesh@xxxxxxxxxx> writes:
> >
> > << Hey, lets just get on with it ok? whoever is at fault, there is a
lot
> more
> > to be gained by exchange of good ideas (how will one know something is
> good
> > unless there is something less good to compare it with?) and a whole
lot
> to
> > be learnt.
> >
> > Lets all continue to make this a good active vibrant and intelligent
> forum.
> >
> >
> > Vignesh
> > ----- Original Message -----
> > From: Daniel Martinez <DanM@xxxxxxxxxx>
> > To: <metastock@xxxxxxxxxxxxx>
> > Sent: Wednesday, November 01, 2000 7:13 AM
> > Subject: Re: Too much for me
> >
> >
> > > I wouldn't worry about it. As long as Equis's MetaStock program is
> > popular,
> > > there will be a MetaStock ListServ. The only way this List will
> disappear
> > > would be if no one purchased the product any more. There will always
be
> > > changeovers in people for whatever reasons. Some will go broke, some
> will
> > move
> > > on to better programs, some will find better forums such as Silicon
> > Investor,
> > > etc...
> > >
> > > Let's just ignore the negative and focus on building our skills in
> > MetaStock
> > > and TA in general. I have much to contribute and learn. I know
others
> > here
> > > will do the same.
> > >
> > > Daniel.
> > >
> > >
> > > Ron Scott wrote:
> > >
> > > > This is exactly what I've been thinking would happen, that people
> would
> > be
> > > > driven off or leave in disgust. This list of traders has been
ruined
> by
> > the
> > > > few who can't handle the fact that others have different views.
> > Complaining
> > > > to Equis about the problem didn't do any good, so maybe you should
go.
> > > > There is a very uncomfortable feeling about this list, and posting
to
> it
> > > > takes almost as much guts as making a trade! But at least you
won't
> > find
> > > > support for an unprofitable idea! hahaha However, there are some
> very
> > > > smart and nice people on the list, I guess they just have developed
a
> > thick
> > > > skin.
> > > >
> > > > Ron Scott
> > > >
> > > > -----Original Message-----
> > > > From: owner-metastock@xxxxxxxxxxxxx
> > > > [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Mark Thompson
> > > > Sent: Tuesday, October 31, 2000 7:57 AM
> > > > To: metastock@xxxxxxxxxxxxx
> > > > Subject: Too much for me
> > > >
> > > > Would someone please tell me where I can sign up for realtraders?
I
> > can't
> > > > take this anymore. It is time to make a switch.
> > > >
> > > > Thanks
> > > >
> > > > ----- Original Message -----
> > > > From: <Mullin285@xxxxxxx>
> > > > To: <metastock@xxxxxxxxxxxxx>
> > > > Sent: Monday, October 30, 2000 7:12 PM
> > > > Subject: Re: Blind bats, old ladies, and one giant turd.
> > > >
> > > > > I have to agree, sad to say. I feel many folks are probably
nervous
> > about
> > > > > getting whiplashed by some of the vicious, obnoxiousness that
often
> > times
> > > > > stinks up so many posts on this list.
> > >
> >
> > >>
> >
> >
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