Registered: Aug 1999
Posts: 1270

Target 34.50
Stop 34.80

Looking for a quick scalp as Spoos pullback a bit, with expectation that they will retest their lows.

Registered: Feb 2002
Posts: 3503

This was an interesting one.
I was really curious to see who had the biggest balls
with such a late entry

I would have figured more people would have used
trailing stops if they were going to "go for it" with such
a high momentum play.

The people who thought it could have enough steam
to punch through the minor support at 34.50
were rewarded.

peace

axeman




Results
-----------------------
mike s: +71
Peri: +69
Gordon Gekko: +66
prescott: +66
Babak:+66
RAY: +57
Corallus: +65
Amkeer: +56
TriPack: +55
Dantheman: +50
Sanjuro: +46
uptik2000:+31
inandlong: +16
macal425: +16
DTK: +15
JPB: +12
NoviceTrader: +11
axeman: +0
slapshot: -0.02
wdbaker: -0.02



details
-----------------------------------

NoviceTrader
Target 34.55
Stop 34.80
+11

wdbaker
Stopped out
-0.02

Corallus
Stop 34.81
Target 34.01
Trail stop every 20c in my favor
+65

TriPack
Target at 34.11 or just exit on the close.
+55

Gordon Gekko
stop 34.80
target 34
trail my stop 25 cents
+66

DTK
Target 34.51
Stop 34.76
+15

JPB
target 34.54
stop 34.78
+12

inandlong
$34.50 target
Stop is the high of this bar plus .10.
+16

slapshot
stopped out
-0.02

Babak
Stop 35.00
Target 34.00
+66

Amkeer
Target 34.10
stop at 34.83
+56

uptik2000
stop 34.80
tgt 34.35
+31

Dantheman
Stop @ 35.16
Limit @ 34.16
+50

prescott
stop would be 35.05
take profit would be 34.00
+66

Peri
stop 34.78
target 33.97
+69

macal425
Target 34.50
Stop 34.80
+16

RAY
target: 34.09
stop: 35.01
+57

Sanjuro
TARGET 34.20
STOP 35.50
+46

mike s
stop 35.10
target 33.95
+71

quiz2_answer.gif
This has been downloaded 62 time(s).

Registered: Jul 2002
Posts: 408

side note: yeah that entry of 34.66 is pretty crap...but as it goes to show the importance is on the exit formost...entry comes second...

I believed it would retest lows around 34 and i also believed that if it hit 35 or above then the short bias should turn to either neutral or long (could have still been a retracement...but that wasn't the play i was looking at.) Proves once again that the trend is usually your friend

so i said, ok 100 shares...entry is 34.66...ok make it 50 bucks either way = .50 stop and .50 target.


ah and i looked at the way it had moved...down sharply in the opening, followed by NO retracement which signaled to me very weak...had there been a steep retracement (where there is just a slumping sideways @ 10:30-11:00) I would have perhaps not been so generous with my stop.
And as we can now see the eventual retrace we DID have didn't beat 50% of the day's move.

not bad, good job all. btw this is really cool. axeman are you just picking out stocks at random?

btw the e-mini chart played no role in my trade evaluation.

Registered: Nov 2001
Posts: 5006

this thread is great because it is making us focus on the exit. we can't focus on the entry at all!

i'm no trading genius, but i really think this is in the right direction. i have managed to somehow lose money with just about any entry i can think of. what does that tell you? besides poor judgement, i'm probably managing my trades shitty and someone could take the opposite of my trades and make money off ANY ENTRY!!!!! now i just need to figure out how to manage my trades the opposite way......hmm

Registered: Nov 2002
Posts: 137

Yes, it's like having your monkey trading assistant do your entries for you, and it's up to you to handle what positions he puts you into. The monkey idea was brought up by someone else on another thread. The premise was: Would you rather pick your own entries and let a monkey handle your exits, or would you prefer to let the monkey enter the market for you while you handle the exits. When you think of trading in this light, it's easy to realize that exits are so much more important than entries.

Some days I think the I'd rather let the monkey do BOTH the entries AND the exits!!

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