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I think the larger the repetoire of entry techniques which the trader
employs, the better. I trade breakouts selectively as I do retracements,
reversals and as many other patterns as I can remember to look for. I
rarely trade breakouts from a previous high/low, however I will trade
breakouts within retracement patterns where I want the pattern to prove
its worth as it begins moving toward the previous major pivot (high or
low).
Earl
----- Original Message -----
From: Ira Tunik
To: realtraders@xxxxxxxxxxxxxxx
Cc: realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, February 15, 2000 10:23 AM
Subject: [RT] Re: When the internet bubble bursts
The foolish thing to do is to trade breakouts, they are only profitable
38% of the time+/-, and as far as the trend is concerned, you determine
the trend when you decide on the time frame you are going to trade. It
is your decisions that make you profitable, and not the market. Ira.
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