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Stocks and Commodities, published March 1995.
If you can't find the magazine, I can ask Joe DiNapoli if he has the
text so I can send it to the list. It's a great discussion on how
difficult it its to compete with the pro's at the key turning points.
-Neal.
At 10:27 AM 5/17/2001 -0700, you wrote:
>What was the issue of TASC?
>
>----- Original Message -----
>From: "Neal Hughes" <neal@xxxxxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Thursday, May 17, 2001 10:14 AM
>Subject: Re: Re[2]: [RT] Re: Fibo Research
>
>
> >
> > >
> > > >Liquidity can be a real problem.
> > > >
> > > >When you are right, you struggle to get a fill, because there
> > > >is a lot of competition for the liquidity at turning points. When
> > > >you are wrong, it is very easy to get a fill..
> > > >
> > > >when you are nailing market turning points, you find
> > > >there isn't enough liquidity..
> > > >
> > > >Neal
> > >
> > >This statement seems counterintuitive to me. At turning points, there is
>a
> > >balance between buyers and sellers and liquidity should be at its
>greatest.
> > >When a market is trending, buyers and sellers are out of balance and the
> > >market moves. Are we talking about the same thing?
> > >
> > >Thanks,
> > >
> > >Dan
> >
> >
> > Dan,
> >
> > Think about it this way.. If you manage to predict the high and the low
> > of the day.. What are your chances of getting a fill at those two
> > prices, the high and the low? There are very few trades at the
> > high and the low, usually. Often the chart reverses so fast at those
> > levels.
> >
> > It is very easy to get a fill when the market goes against you,
> > more difficult to do so when you are right. Even more difficult if you
> > are precise.
> >
> > If you haven't struggled with this a lot, try Fibonacci!
> >
> > Joe DiNapoli wrote an excellent article on this (published years ago
> > in Stocks and Commodities magazine). It was about the problem
> > of X'd trades (cancelled trades) at turning points.. If members are
> > interested I'll locate it on the web for you.
> >
> > If you haven't had a trade cancelled by a floor trader, keep getting
> > better... It will happen.
> >
> > -Neal.
> >
> >
> >
> >
> >
> >
> >
> > To unsubscribe from this group, send an email to:
> > realtraders-unsubscribe@xxxxxxxxxxxxxxx
> >
> >
> >
> > Your use of Yahoo! Groups is subject to http://docs.yahoo.com/info/terms/
> >
> >
>
>
>To unsubscribe from this group, send an email to:
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>
>
>
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