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All,
Based on some of the messages I've seen the last few months, I guess I
can surmise some of this, but wanted to just ask anyway. It might not
provoke anything of massive value, but ... it might. =)
When you trade, do you use a set of rules, and then trade pretty much
anything that fits those rules (i.e., just take what your system gives
you), or do you have a set of stocks that you're familiar/comfortable
with and pretty much stick with those, based on chart patterns or
something? Harley seems to be in that camp.
Also, I see a lot of messages picking tops and bottoms (or attempting
to). Do you pick a profit point and get out then, or let your profit
run? Similar on the stop/loss side; do you USE them, or just wait a
little longer to see if that pick might pan out.
Myself, I try to be pretty mechanical; I use the various systems I'm
playing around with, and rarely do I use any fundamental knowledge of
the stock. As for an exit, it's a simple one, though I'd be glad to be
shown where its weak points are. It's a mix of SAR (philosophically)
and trailing low; I start by putting my stop at the lowest low of the
last 10 days. If the stock makes a new high, I decrement 10 to 9.
Every time a new high is made, I decrement the number of days until I
hit 5. So far, this has had me out of major loss turnarounds w/o
stopping me out overly quickly.
Hope everyone is having a relaxing weekend.
--
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If guns are outlawed, can we use swords?
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