[RT] Countertrend trading (was: ESH3)

[MikeSuesserott@xxxxxxxxxxx]

<SPAN 
class=601390314-14022003>Hi Ira,
<SPAN 
class=601390314-14022003> 
<SPAN 
class=601390314-14022003>I certainly appreciate your point, but a point can 
also be made for occasional countertrend trading, if done with correct 
stops. For instance, most Wolfe Waves start out counter to the prevailing 
trend. If you remember the wave that I posted here a few days ago - though 
it did not quite make it to the target line because of the Al Jazeera video tape 
news, still the pattern if entered around the #5 point made some good money on a 
small risk.
<SPAN 
class=601390314-14022003> 
<SPAN 
class=601390314-14022003>One way to handle counter trend trades is by 
looking for trend confirmation on a smaller time frame. Like when entering a 
counter trend pattern on a 30 min. chart, one might wait for the new direction 
to prove itself as a trend on a 5 min. chart.
<SPAN 
class=601390314-14022003> 
<SPAN 
class=601390314-14022003>Regards,
<SPAN 
class=601390314-14022003> 
<SPAN 
class=601390314-14022003>Michael Suesserott
<SPAN 
class=601390314-14022003> 
<BLOCKQUOTE 
>
  <FONT face=Tahoma 
  size=2>-----Ursprüngliche Nachricht-----Von: ira 
  [mailto:mr.ira@xxxxxxxxxxxxx]Gesendet: Friday, February 14, 2003 
  06:34An: realtraders@xxxxxxxxxxxxxxxBetreff: Re: [RT] 
  ESH3
  It absolutely boggles my mind why a trader would 
  buy weakness.  If it is falling, let it fall.  If you think it is 
  going to rise, wait for it to prove to you that it is going to do just that, 
  rise.  Then buy.   If you are going from Chicago to New York, 
  would you go by Denver and San Francisco first.  Why not just hop the 
  train as it leaves the station for New 
York?






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