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Yes Frans, I did mis-understand the question.
I like the idea you suggest, "Go short if it opens below the open of the
day after hitting 2000 and play
the correction ...."
I am with you...make the money on what the market gives you. Fellow
taught me one time that
there was no bull side or bear side......only the right side. I never
think in terms of reversal or correction....
I just try to read the market and go where it takes me.
(No problem reading the left side of the chart, it's the right side that is
testy.)
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> From: Frans Derksen <fjderksen@xxxxxxxxx>
> To: metastock@xxxxxxxxxxxxx
> Subject: Re: Dumb questions
> Date: Thursday, November 02, 2000 2:08 PM
>
>
> Hello Al,
>
> I follow your reasoning,but Vignesh's question is what distinguishes a
> correction from a reversal and if we know the answer than the next
question
> is: Is it tradedable ?
> For example an index makes a low at 1000 than runs up to 2000 thereafter
it
> comes down again. One could say: from 2000 down to 1000 is a correction.
If
> it turns under 1000, we have a reversal on our hands. But how would we
> trade on this info ?
> or wait'till it falls under 1000 and play the reversal while
> missing all the fun with the 1000 points ? or......(all the other
> possibilities).
> And yes I go along with your "relative to one's time frame"-phrase.
>
> So the question is not dumb but might be useless.
>
> Best wishes,
> Frans
>
>
>
> At 10:37 2-11-00 -0600, you wrote:
> >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
> >
> >----------
> >> 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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