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--- In realtraders@xxxx, Timothy Morge <tmorge@xxxx> wrote:
> Haytham:
>
> I can't agree with your analysis that Friday's action gave no clues
that a
> down trend was in full force--but that's what makes a market.
HA: It would have been great it you commented on that last Friday
with your comments about triangle.
I am
> interested in how you use your tools and what you do when you
finally see
> that your position is the incorrect one--and how you come to that
> determination.
HA: I closed my position and took the other side.
> Looking at the chart you attached to your last post, I see a 10
period
> moving average and I also see that though prices were within the
triangle
> you drew, prices had moved and closed below the 10 period moving
average on
> your chart. Were you using that 10 period MA as a trigger and as a
sign
> that the trend had changed?
HA: I use 10 MA on daily charts and NASDAQ closed above that on
Friday and that is what gave me mixed signal adding to it higher lows
with triangle formation on 60 min chart.
>
> As I just stated in a reply to Delta, I didn't reply to bash you or
> criticize you. I wanted to know your thoughts now that the market
had moved
> significantly. I also wanted to know how your techniques deal with
being
> wrong--NONE of us are 95 percent accurate. It is usually what we do
and how
> we act when we are mistaken that make us poor traders or great
trader.
>
> I am always grateful to anyone that shares their thoughts and how
they use
> their tools.
HA: I would appreciate if you comment on some charts for anticipation
of movement with your thought process becuase I learn from every
post. I see many posting a chart and leave the interpretation to the
viewer who he may not familier with the technicque.
I am not trying to make anyone uncomfortable with questions.
HA: I am fine, if I am afraid of the critique I would have not post
anything.
I
> am trying to understand how tools are used by various traders.
>
> It's late for me, especially so because I have not been feeling
well.
>
> Good trading tomorrow, everyone.
>
> Best,
>
> Tim Morge
> www.medianline.com
>
> At 10:58 PM 5/29/2001 -0400, you wrote:
> >--- In <mailto:realtraders@x...>realtraders@xxxx, Timothy Morge
> ><<mailto:tmorge@x...>tmorge@xxxx> wrote:
> > > Haytham:
> > >
> > > I ask this out of curiousity: The triangle formation was a
failure. How do
> > > you deal with that in your over-all analysis? You were still
very happy
> > > with the bullish scenario Friday afternoon; obviously it did
not pan out
> > > over the long weekend.
> > >
> > > Best,
> > >
> > > Tim Morge
> > >
> >Tim,
> >
> >Until this morning, there was no evidence that NASDAQ will go
lower as I
> >explained in a previous post(triangle could break up or down), in
fact I
> >kept long position in RBAK because good risk/profit ratio @ 15.85,
I
> >closed my position this AM when it hit my stop at 14.97 and
immediately
> >took a short position in BEAS @ 37.42.
> >
> >5/29/2001 was turning point to the downside.
> >
> >Best,
> >
> >Haytham
> >
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