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i just want to clarify what i meant by this statement.....most of the intraday/short
term traders i've encountered who trade breakouts lose money due to large
slippage and panic driven overtrading (excessive commish) in an attempt
to make up the large daily losses they incurred.
however, a few longer term traders, using setups on weekly or daily charts,
appear to trade breakouts successfully. i can't speak for these guys, but
it appears they are successful in trading breakouts because the trading
frequency is much less, overall slippage and commish overhead is lower,
and the price moves are larger.
sorry guys, but all that long term waiting ain't my bag :))
TJ
At Wed, 31 May 2000 10:39:47 -0500, "Gaston Lang" <gastonlang@xxxxxxxxxxxxx>
wrote:
>I believe it was you that mentioned the masses that trade
>breakouts and lose money. This is entirely reactive trading.
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