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Likewise... -Good luck --MIKE

here is the file I am having problems with the pic.. Just draw a trendline of ACTL from 5/17/02 to 8/22/02. I would go short at 8/23/02. I would not short the breakdown to a new low on 9/3/02.. although it happened to still work. I basically shorted the stock as it reached its resistance...

Margo, Good points, I respect what you are saying but i don't think you understand one thing. There is more to trading than breakouts and breakdowns. By nature when I swing trade, I am a trend follower.. so I look for stocks that trend strongly, and have good persistency. Now.. assuming I...

Agreed. WHen the rally comes the momo hedgies/traders are gonna push the strong stocks to new 52 week highs.. because often they have more short interest than the one's near 52 week lows. The pro's I know short the stocks near 52 week lows (usually on a bounce) and buy the 52 week highs (on...

Just a warning here.. this is very dangerous type of trading.. Just because a stock is strong doesnt mean its getting ahead of itself. Take a look at those homebuilders the past few years. I just want the traders that read this thread to understand that if we get a multi month/year bounce most...

Margo's strategy is simple... its shorting resistance and fading stocks near their relative highs. In my opinion this is a good strategy soley based on whether someone really understands market conditions. In a bear market this strategy is great.. but in a choppy or bull market.. you will get...

Brother, No hard feelings but you are wrong. I actually am in close cohorts w/ the head of a research director at a pretty big hedgie... you'd be surprised at some of the things they do. I cant speak for all hedge funds but.. like I said many times I am in NYC.. and I know what some of...

90% is bullsh*t.. I would like to see her sample size. Common sense says that if she really had such great accuracy.. she wouldnt be looking for other revenue streams.. hmm.. would you? Running a cheaseball retail piker chat room is suspicious.. wouldn't she just be consulting some of the...

This is my money mgmt technique for swing trading... similar to Dave Landry's (excellent trader) from tradingmarkets.com Take loss at 1.5* atr(2). When in profit of 1R scale out %30-50 (exact amount discretionary but systematic when applied) then place stop loss at breakeven. On the remainder...

OK... good job guys.. we got some good insights into scaling vs non scaling. The most important thing I realized was the consideration of scaling as seperate trades in itself. But this is all opinion. No hard facts. Does anyone here have any statistical evidence they can share.. in regards...

Guys c'mon.. grow up. --MIKE

Why dont you just fade the system and retire? :) --MIKE

Arent mutual funds and hedge funds a form of always in trading? -MIKE

Brother, Smoothing out your equity curve reduces volatility in your trading account. You are just spinning my idea around. Dont underestimate psychological benefit. We are human beings not robots. --MIKE

I disagree. Assuming you are a simple breakout trader or buy the pullbacks in the direction of the primary trend. Look back at your most profitable trades.. I bet you that more than %60 will be in profit right from the get go. This is a fact.. its true in relation to my performance.. and I bet...

vladiator, You make some good points.. but I think you are wrong to question the validity of whether this is a constructive thread or not. I think its an important topic which relates to trading big time. I think this thread has more value than a lot of other BS threads on this board. It...

All the top traders I speak to scale into strength. I have never met one big time trader that told me he just has a fixed loss or fixed profit target. Other traders and myself take profits when there on the table and protect the remainder of profits via trailing. I dont know why you are so...

Commisso.. Top trader= 7+ figs a year I think wall street is in NYC.. lol --MIKE

Personally.. I think some of your choices are a bit too agressive. I would not fade the market right now, especially stocks near 52 week highs. I would rather be buying their pullbacks. When the broader markets have underwent a major sell off and are trading near their lower bands.. the risk...

J Commiso, I respect what you are saying. But if you ask any pro trader what they would rather prefer.. they will tell you a consistent income rather than a greater expectancy. I have spoken to some of the top NYC pro traders, and especially hedge fundies. Any attempt to smooth out the...