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Dean Chahley wrote:
>
> RT's - I am testing some of the strategies from Larry Connors & Linda
> Raschke's book titled 'Street Smarts'. While they give explicit instructions
> on how to enter the market, their exit strategy is less defined. My question
> is: is their anyone out there trading some of these strategies successfully,
> that would be willing to share their exit strategies (trailing stops)?
>
> Please keep in mind that I prefer to use daily bar charts and not hourly, 25
> min, etc (because of cost)!
> I do have a 'real-time' feed, but it's with quotrek and not signal (so
> oscillators,etc during the day are not useful to me - hopefully one day I
> can graduate to that!)
>
> Cheers,
>
> Dean
> maui@xxxxxxxxx
>
Just to make sure:
- Money management means how many contracts you put on following which strategy
designed to calculate how many contracts should be put on.
- Risk management, is the strategy dealing with losing streaks and drawdown
handling.
- Position management deals with knowing what to do with your position once it's on:
When to add, when to exit, why.
- Entry strategy deals with finding a place to start a new position, and may also
deal with finding a place to add.
- Exit strategy deals with finding a place to exit. One can subdivide in strategies
to exit losers, and one to exit winners, and one to exit if expected conditions do
not materialize.
At least, that's how things are usually defined, so that two traders talk about the
same...
Gwenn
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