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Suave:
Point well taken - and concur... with this one comment.
To day-trade S&Ps (you didn't mention your market), I use two charts - an
8-tick (about 35 seconds, depending on volatility) and a 1-minute. 2
Proprietary ShowMes signal the ends of trends.
The end signals usually occur first of the 8-tick. Often, I think there may
be more of the trend remaining from which I could profit.
When I'm "not sure" that the trend is ending, I'll check the 1-minute chart.
If the same end signal, that had occurred on the 8-tick chart, occurs
shortly afterward on the 1-minute chart, this usually confirms my exit.
The two signals are independent of either other because of the tick-vs-time
chart periods. If the two "tell" me the same thing, who am I to second
guess?
Rule:
If your signals have been successful in the past,
NEVER - EVER - TRY TO SECOND GUESS THEM.
The computer is devoid of human emotion. You are not. The computer only
knows "2+2=4" forever and a day.
If you have a profit - TAKE IT. More often than not, you may not get more!
Gerald Marisch
----- Original Message -----
From: "Suave" <suave1ca@xxxxxxxxx>
To: <omega-list@xxxxxxxxxx>
Sent: Sunday, April 08, 2001 5:01 PM
Subject: Switch Time Frames For Better Exits
> Dropping down to lower time frames for exit has served
> well. I use time frames that are separated by a factor
> of 3.
>
> Example: entered trade on 45 minute. When it is
> possible to lower stop to break even, switch to 15
> minute. If price moves substantially in favor of the
> trade, switch to 5 minute. If it comes to a "boil"
> lower stop using 1 minute.
>
> Dropping down to smaller time frames enables the trade
> to take profits.
>
> Thoughts?
>
> Sauve
>
>
>
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