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Taking it a step further and using a little imagination we spoke about
earlier... lets say we take a 12 poeriod CMO with parameters at +50 and -50
for instance as potential profit taking areas. Doesn't mean you have to take
it right away. Might mean that you trail a tight stop using that days
high/low or you wait for a divergence in a still shorter term oscillator, or
perhaps some combo of things like this....
>
> -----Original Message-----
> From: owner-metastock@xxxxxxxxxxxxx
> [mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Neal Hughes
> Sent: Thursday, March 15, 2001 9:12 PM
> To: metastock@xxxxxxxxxxxxx
> Subject: RE: Profit Stops
>
>
>
> Peter,
>
> When I started with Fibs, I read just about everything..
>
> There is a ton of intellectually interesting, entertaining,
> poetic, mystical, stuff about Fibonacci.. Some of it
> is so complex and theoretical there is no way to
> figure out how to apply it in the markets.. Some of the
> material seems as though it is written to intentionally
> mystify! Some of it works some of the time but only
> just enough to keep you interested..
>
> I eventually settled for Joe DiNapoli's techniques, see
> http://www.fibtrader.com because they are
> practical and make sense to me. Joe discards all the
> confusing aspects, and presents a solid trading plan.
>
> When I was newer to that stuff, I wrote a review on DiNapoli's
> book, you'll find it on the above website somewhere.
>
> I've since become a biased fan of these techniques,
> and I present seminars on DiNapoli techniques. These
> may not be the only Fib techniques that work, but they
> are my preference.
>
> I'm totally against trailing stops, for many reasons.
> I'm usually entering the market exactly where those
> with trailing stops are exiting. So they take the other
> side of my trade.. Trailing stops generate horrible
> slippage, and often get you out of the market at
> the worst time..
>
> -Neal.
>
>
>
> At 05:52 PM 3/15/2001 -0500, Peter Gialames wrote:
> >Do you have any good resouces on learning these Fib techniques? I have
> >always been intrigued by them, but never learned how to use them.
> >
> >Peter Gialames
> >
> >-----Original Message-----
> >From: owner-metastock@xxxxxxxxxxxxx
> >[mailto:owner-metastock@xxxxxxxxxxxxx]On Behalf Of Neal Hughes
> >Sent: Thursday, March 15, 2001 4:22 PM
> >To: metastock@xxxxxxxxxxxxx
> >Subject: Re: Profit Stops
> >
> >
> >
> >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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