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<DIV>TGIF Everybody!</DIV>
<DIV> </DIV>
<DIV>After my first week back trading since October, I'm trying to
summarize what I learned. And learn more!</DIV>
<DIV> </DIV>
<DIV>I was proud of my own patience, waiting for the right trade. I used
to be a "shoot from the hip" trader, over-trading just for the rush.
Little did I know then the real "rush" would be my money flying out of my
account! </DIV>
<DIV> </DIV>
<DIV><EM>What I did right:</EM></DIV>
<DIV>Set my stops and targets before I got in the trade.</DIV>
<DIV>Listened to music instead of CNBC z:^)</DIV>
<DIV> </DIV>
<DIV><EM>What I did wrong:</EM></DIV>
<DIV>Fear kept me out of several trades that did play out just the way I thought
they would.</DIV>
<DIV> </DIV>
<DIV>Sold trade #1 too early... just plain got excited .</DIV>
<DIV> </DIV>
<DIV>Did not sell at resistance on trade #2. Sold at support. Got
nervous.</DIV>
<DIV> </DIV>
<DIV>Increased my stop once I was in trade #3. Gave it one more level
of support to test. (It failed). Got brazen.</DIV>
<DIV> </DIV>
<DIV>Made a quick, though tiny, buck on trade #4. Got it right.</DIV>
<DIV> </DIV>
<DIV>What I really learned is that even though I want to be a swing trader and
capture a larger move, I don't seem to have the patience to watch a stock for
more than a day and a half without getting an itchy trigger finger and wanting
to sell. I also need larger stops for swings and then don't sleep as
well. </DIV>
<DIV> </DIV>
<DIV>So I'm trying to day trade again. I don't have the modem or nerves
for scalping 16th's. I'm trying for a point or more, based on buying
retracements. Here's my question: I can't figure out which time frame to give
the most weight. A 20 or 30 or even 60 minute chart probably reflects the
size moves I'm trying to trade, but I find my entry with the 5 minute
charts. Then I find myself glued to the 5 min. charts again, watching for
any little nuance in price. I trade more price than indicators, but the
different time frames portray the indicators differently. The 5
minute chart whipsaws the indicators I do watch, but gives early warning
too. </DIV>
<DIV> </DIV>
<DIV>I need to identify my time frame to set realistic stops and
targets and stick to that. I would be comfortable holding a stock all
day. But I keep flipping through the different charts, mentally changing
my objectives as I look at each. Both target and stop will be based
on fib numbers, but I want to complete the trade in a day. Is there a
way to set a target and stop based on 1 day's action? Would you use
average true range? Any comments? </DIV>
<DIV> </DIV>
<DIV>Thanks to everyone who's help and encouragement has gotten me back in the
saddle!</DIV>
<DIV> </DIV>
<DIV>Linda</DIV>
<DIV>linda@xxxxxxxxxxxxxx<BR>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</DIV>
<DIV> </DIV>
<DIV> </DIV></BODY></HTML>
</x-html>From ???@??? Fri Apr 09 15:58:04 1999
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Date: Fri, 09 Apr 1999 18:54:34 -0500
Reply-To: corrion@xxxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: John Corrion <corrion@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: Gen: Price of Gas/Oil and trading
References: <001001be82ca$a6cb5260$c63c31cf@xxxxxxxx> <370E6BD2.853F1D25@xxxxxxxxxxxxx> <007901be82d8$ac58cc40$94d7e4cf@xxxxxx>
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X-To: RAY RAFFURTY <rrraff@xxxxxxxx>
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Ray,
Please, its a Ford Expedition. And gas does need to be cheap to run that.
John
RAY RAFFURTY wrote:
> Just remember America is the only country in the world ware gas is cheaper
> than bottled water! It's a good thing Chevrolet Expeditions don't run on
> Perrier.
>
> Good luck and good trading,
> Ray Raffurty
>
> ----- Original Message -----
> From: Norman Phair <ericrogers@xxxxxxxxxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Sent: Friday, April 09, 1999 5:06 PM
> Subject: Re: Gen: Price of Gas/Oil and trading
>
> > Brent:
> >
> > No, I got your point. The problem is people complain but when it comes
> > to our love of cars, most of us will pay the price because of the
> > convince factor. I remember an old saying that someone told me a long
> > time ago. Gas is probably the cheapest expense you will have when
> > operating a car. Consider the price of insurance and depreciation.
> >
> > Norman E.
> >
> >
> > BrentinUtahsDixie wrote:
> > >
> > > Thanks for your reply. Seems like you missed the point.
> > >
> > > Brent
> > > -----Original Message-----
> > > From: Norman Phair <ericrogers@xxxxxxxxxxxxx>
> > > To: brente@xxxxxxxxxxxx <brente@xxxxxxxxxxxx>
> > > Date: Friday, April 09, 1999 2:37 PM
> > > Subject: Re: Gen: Price of Gas/Oil and trading
> > >
> > > >Brent:
> > > >
> > > >Sell your car and buy a bike, then you will not be tempted to jump into
> > > >the car and use it. Or get a motor scooter. Or pay the price for gas,
> > > >remember you can not take it with you.
> > > >
> > > >Norman E.
> > > >
> > > >BrentinUtahsDixie wrote:
> > > >>
> > > >> RT's,
> > > >>
> > > >> Any trader worth his salt should be able to tell people how to get
> the
> > > price
> > > >> of oil and gas to go down. One day of boycotting gas stations isn't
> going
> > > to
> > > >> do it. So how do you do it? Decrease demand.
> > > >>
> > > >> It happened once before when gas prices were high. It became
> fashionable
> > > to
> > > >> stay at home and vacation in your own back yard or your own town.
> People
> > > >> became very careful about how they drove, made one trip count for 2.
> > > Small
> > > >> cars were popular and gas hogs were not. Soon there was a glut of oil
> and
> > > >> prices crashed.
> > > >>
> > > >> Now you know how to make prices go down, tell your neighbor.
> > > >>
> > > >> As far as the one day boycott is concerned I expect it to make prices
> go
> > > >> even higher.
> > > >>
> > > >> Brent
> > > >
> >
> >
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