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Sometimes it's skill which works and sometimes it's luck. Yesterday, I
managed to catch the morning reversal close to the lows and rode it nearly
to the afternoon high. Today, LeoWeb jammed when I attempted to enter a 1318
limit order on the run-up during today's lunch period (a no no on a slow
day) when the locals were gunning for the stops above 1318. Further, I never
should have been attempting entry because neither my time or price
retracement targets (posted earlier) had been met. I was simply afraid I was
going to miss a run to 1343 which I suspect may be in the cards - would not
have been the first time I've been spooked into a trade!
Earl
----- Original Message -----
From: "EAdamy" <eadamy@xxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Tuesday, May 22, 2001 10:20 AM
Subject: Re: [RT] SP Triangle?
> One additional comment, I am not particularly aggressive today in looking
> for a long entry here ... this has (so far) been the kind of chop which
can
> eat a very short term trader alive. Rather, I am waiting for a retracement
> in price minimally to my blue 50% trendline (*) or in time (vertical cyan
> lines).
>
> * apply a fib retracement tool from the pivot low to the pivot high, then
> draw a trendline from the pivot low to the 50% retracement at the same bar
> as the pivot high.
>
> Earl
>
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