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What is your TP and SL? What's your win ratio?
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[QUOTE]Originally posted by T e x: [QB] [QUOTE]Originally posted by permanentjaun: [qb] I think we're saying the same thing, somewhat. I'm not sure what you mean by studying historical charts. I'd still use the charts to recognize S/R, and other patterns, but if there isn't at least a possibility for the stock to move 5% before hitting resistance I won't trade it. Now, if it is an open ceiling and there isn't resistance for 30-40%, I'll still only take 5%. You need to explain what you mean by historical charts. [/qb][/QUOTE]Well, you may find a similar setup in the previous six months. If it looks good, dig in. You may not find a similar setup until you examine the previous two years... or longer. This requires, imsso (in my simple stoopid opinion, lol), really working on your TA skills. For instance, some define TA as simply "studying charts." OK...great. hold this tissue while I blow my nose, right? Seriously and quite realistically, you got [b]at least[/b] three ways to read charts: 1) Western "patterns" 2) Eastern "candlesticks" and 3) indicator interplay. Simply stated, "historical chart analysis" comprises all three. Am *not* saying we can totlly ignore FA, but given a similar FA environment, we can discern patterns. Maybe all I'm saying is "Learn the TA indicators that work for you." For instance, my good bud Mach loves RSI. Although I do check RSI, I personally give more weight (on a buy signal) to the interplay between AROON and WILLIAMS %. What I'm saying is...some "see" certain indicators as meanignful, cuz of individual brain patterns. If I "see" only 10%, then I bail at 8.75 or thereabouts. If I "see" 20%, then I may test 17% with the majority of my position. If it keeps rising? I sell into the run and keep some "Do or Die" shares IF I like it. Otherwise, dump it all... great thread, btw :) [/QB][/QUOTE]
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