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<DIV><FONT color=#000000 size=2>DENVER, CO, USA - GALACTIC FX MARKET UPDATE -
10/20/98</FONT></DIV>
<DIV>
<HR>
</DIV>
<DIV><FONT size=2>SUMMARY<BR>The USD opened firmer against the yen due to heavy
stop loss orders being<BR>executed. The greenback also gained against the
mark in New York this<BR>morning on hopes of a German rate
cut.<BR><BR>EUROPE<BR>The pound remains firm against the mark and dollar.
Consumer credit rises<BR>to its highest level in a year, but markets are still
expecting a UK rate<BR>cut in the near term. The Norwegian crown eases
against the mark as markets<BR>are still concerned about last week's
announcement that Norges Bank will<BR>resume intervention.<BR><BR>ASIA<BR>Yen
slipped against the majors as traders cited mark/yen and sterling/yen<BR>buy
orders triggering stops. The Indian rupee ended slightly firmer in
thin<BR>trade today ahead of a series of holidays. Indian markets were
closed<BR>yesterday and will be closed Wednesday and Thursday as
well.<BR><BR>AMERICAS<BR>Mexican markets are expected to be firmer today
supported by the strength in<BR>the Dow. CAD made up some ground against
the dollar at the open this<BR>morning as the U.S. trade deficit reached a
record high in August while<BR>Canada's August trade surplus surpassed $1B for
the first time sine July<BR>'97. News of a credible fiscal adjustment plan
for Brazil and an IMF-led<BR>package to follow is a positive and stabilizing
force for emerging markets<BR>everywhere.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Sincerely,</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Richard Chehovin<BR></FONT></DIV></BODY></HTML>
</x-html>From ???@??? Tue Oct 20 10:17:54 1998
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From: Ketayun <ketayun@xxxxxxxxxxx>
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Subject: realtime internet quote service
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Hi,
<P>I currently use North American Quotes for realtime streaming quotes
and am somewhat satisfied. However their audio alerts do not,:-)), and
there are some other bugs.
<P>Any suggestions for a similar service, which also has multiple TOS and
charts available on a single screen?
<P>Thanks,
<P>Ketayun</HTML>
</x-html>From ???@??? Tue Oct 20 10:22:39 1998
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From: UG <ug@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: RE: GEN: Parabolic
In-Reply-To: <01BDFC7E.0320C500.pryan@xxxxxxxxxxxxxx>
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X-To: realtraders@xxxxxxxxxxxxxx, Peter Ryan <pryan@xxxxxxxxxxxxxx>
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Peter Ryan writes:
> How far away do you run your stop-losses ?
See below.
> Isn't the initial gap is too deep for a stop-loss position.
Sometimes, yes. I always have a bias in the market before I enter a
trade, and I *usually* get the initial direction right, but as you say,
I sometimes lose the initial profit to subsequent retracements and the
like.
> What sort of signals do you use to get into the market?
It varies, and I'm working on some new schemes (using QP2, which I just
purchased) based on Henry Ford's Pitbull mechanisms. The crux of it is
donchian in nature; I look for new highs being made, the market working
in my favor (or against it, for negative Beta's), the issue under
accumulation, and a higher than normal (and rising) "trendiness"
measure. There
> Sorry if this is too direct. It's just that I use the Parabolic in
> almost the opposite manner - as a trailing profit stop after entry on
> a range breakout. I'm very curious about what works 'upside-down' so
> to speak.
No, I think we are using them the same way; I'm probably just explaining
it wrong. When I say stop-loss, I just mean that it's a trailing stop
order to sell (if long). So in a long position, the SAR is _below_ the
price.
Another stop I'm playing with is a trailing low. Start with a number;
10 seems decent for me for high trending stocks. When you enter a long
position, set your stop to the lowest low of the last 10 days. On the
next day, reset your stop (if necessary) to the lowest low of the last
10 days (which now includes your entry day, but drops the original 10'th
day). If you make a new high, decrease your number of days; so the next
new high, set your stop to the lowest low of the last *9* days. You can
season to taste, but I find that I generally don't give up too much
profit and still stay in during "noise" if I keep that number of days no
less than 10. I am, however, probably a longer term position holder
than many. I don't day trade, and only use EOD data. I know many on
this list do not, so their mileage may vary considerably from mine.
The telling question is: Am I profitable? The answer is, "no". Not
yet. Which is why I'm playing with other systems and am on this list to
learn and see what others are doing.
Having said that, feel free to throw this entire diatribe into the
bit-bucket.
>
> Peter
>
>
>
>
> -----Original Message-----
> From: UG [SMTP:ug@xxxxxxxxxxxx]
> Sent: Tuesday, October 20, 1998 10:10 PM
> To: RealTraders Discussion Group
> Subject: Re: GEN: Parabolic
>
> ZBIGNIEW A WOZNICA writes:
>
> > I thought a SAR was a swing point in the opposite direction you are in.
> The
> > low 2 days ago may or may not be a SAR. Am I correct?
> > Z Woznica
>
> I'm not sure I understand your question, but the parabolic SAR is your
> stop-loss point. It then switches to the "other side" of the market so
> you are always long or short; never flat.
>
> Since I only use it on one side or the other, I simply use it as a
> stop-loss; if I'm long, it's below the price. If the market ever
> reaches down to it, I get out and wait for an indication other than the
> parabolic SAR to get back in. Maybe on the same side of the market as I
> was, maybe not.
>
> I hope this answers your question.
>
> --
> ========================================================================
> That which does not kill me had better be able to run away damn fast
> http://www.unixgeek.com/cgi-bin/motd.pl - PGP email preferred
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