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I have been combining Fibo #'s, traditional support and resistance and
50/200 day moving averages to identify targets with some success. I look
for areas where resistance or support is likely to be encountered based on
coincidence of 2 or more of the factors listed. When my price gets to the
target, I take my profit. It contrasts with the old adage about letting
your profits run, however, I don't have my capital tied up in congestion or
retracements when there are other opportunities. I am looking for sure
singles and doubles and not holding out for doubtful triples and homeruns.
This style is more suited to swing trading than trend following and I still
have a lot to learn.
Dan
>From: Neal Hughes <neal@xxxxxxxxxxxxx>
>Reply-To: metastock@xxxxxxxxxxxxx
>To: metastock@xxxxxxxxxxxxx
>Subject: Re: Profit Stops
>Date: Thu, 15 Mar 2001 13:22:22 -0800
>
>
>Fibonacci techniques are excellent for this.
>
>The idea is to calculate a profit objective so
>you exit before a pullback..
>
>-Neal.
>
>
>At 03:08 PM 3/15/2001 -0500, you wrote:
>>I wonder if people could comment on profit stops. It seems that I buy
>>stocks, the price increases, and then they fall down and I lose most of my
>>profits. Is it best to stick with a trailing stop or should a certain
>>profit
>>% be used to take profits? What profit stop should be used?
>>
>>neo
>
>
>
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