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I don't trade off indicators and systems, so there is no pat answer. I do
use Robert Miner's simplified approach to EW and a change in counts is one
trigger where a bearish count clearly evolves to bullish or vice versa.
Another is simply watching the price action evolve. An example: I've been
short SB9V (Oct Sugar) for a couple of weeks now based on idea that a final
C wave decline is needed to complete the correction and have trailed a
simple stop. However, recent price action (see series of smaller range
inside days) is suggesting that something else may be in the wind. I am now
trailing a stop and reverse which will put me net long if sugar breaks out
to upside.
To summarize: until recently I had no opinion regarding a change in
trend/direction if stopped out so I used a simple stop, now I have an
opinion regarding direction so am trailing a SAR which allows the market to
put me in synch if it wants to up. Hope this helps.
Earl
----- Original Message -----
From: Rory Lewellen <rl2946@xxxxxxxxx>
To: Earl Adamy <eadamy@xxxxxxxxxx>
Cc: Real Traders <realtraders@xxxxxxxxxxxx>
Sent: Tuesday, August 17, 1999 7:11 PM
Subject: Re: GEN: Market Direction
> Earl Adamy,
>
> Good brief explaination of how one can incorporate analytically
> derived
> judgements of the position of markets with possible trades.
>
> Question: What parameters have you found helpful in determining
> whether
> to pre-order a reversal if stopped out, as opposed to simply taking
> the
> loss and moving on to the next trade?
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