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<P>Linda Swope wrote:
<BLOCKQUOTE TYPE=CITE> <FONT COLOR="#000000">I'm trying to work some
of the physical kinks out of my system before I begin to trade. I'm
starting again with swing trading and figure the move I'm trying to capture
will take 0-5 days.</FONT> <FONT COLOR="#000000">I'm wrestling with
how to place stops. I won the psychological battle and am able to
take a loss. The problem is my Fidelity software doesn't allow me
to place a stop loss order on a NASDAQ stock. I can do it on their
website, but it's slow and cumbersome. So fine, I just trade NYSE
stocks. Then if I place a stop loss order to sell, I can't place
a limit sell order because the system only honors one sell order.
So now I have to watch like a hawk to see if it hits my target.</FONT> <FONT COLOR="#000000">I
can handle a mental stop, but if I'm relying on a mental stop I have to
watch like a hawk for the downside. And if I rely on a mental stop,
I might as well trade NASD stocks too.</FONT> Here's the question...
accepting the fact that I'm going to have to watch like a hawk at the other
end, is it better to have a mental stop or a mental target?
<BR>
<P>NW: How about trading futures? Also, if you subscribe to a quote
service, most of them offer some sort of alert that will go off if your
selected price is hit. Finally, I think you will find that many markets
have a 29 calendar day cycle, so that up swings tend to be 14 1/2 calendar
days and down swings tend to be 14 1/2 days, with a variation based
on whether that market is in a bull or bear trend. The more bullish a market
is, the greater percent of the cycle it will spend on the upside and visa
versa with a bear trend. For example, Crude Oil showed signs
of making a low several days before the March 2 Full Moon but gave you
a second chance to buy on the Full Moon, telegraphing that it was a strong
market. In accordance with this, the CRB and commodities should make short
term high near the March 17 New Moon. Individual market variations to this
will tell thier reletive strength. Then things could get very interesting,
as to whether the CRB can make a new low or a successful retest forming
a bottom on the March 31 Full Moon. An indication of a good bottom
in commodites could have wide spread ramifiactions for all the financial
markets, i.e. so much for the no inflation scenario. Anyway, I find this
approach a fairly low stress way to trade, but it is only part of the picture.
. Well, that should save you about two years of study. <G>
<P>Regards,
<P>Norman
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR>
<BR> <FONT COLOR="#000000">Thanks for your time!</FONT>
<BR><FONT COLOR="#000000">Swope's Mountain Photography</FONT>
<BR><FONT COLOR="#000000">Climb the mountains & get their glad tidings:
Peace will flow into you as sunshine into flower; the winds will blow their
freshness into you & storms their energy, & cares will drop off
you like autumn leaves. John Muir 1838 - 1914</FONT> </BLOCKQUOTE>
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</x-html>From ???@??? Sat Mar 13 04:23:36 1999
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Date: Sat, 13 Mar 1999 01:50:31 -0800
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I tried to short S&P today between 10-12 (Chicago time) on 5 min chart with
GET RT.
I thought the setup was perfect.
I saw wave 4 together with catching ellipse and zeroing OSC.
Both trade went sour losing 3 points each and finally gave up on shorting
thus missed end of the day downslide.
I know that ellipse and MOB studies in GET are excellent tools,,
but wondered if there are any other GET users who use some other
indicators/tools/techinques to confirm those type1, 2 trade.
Any comment will be greatly appreciated.
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