buy on retracement

Discussion in 'Technical Analysis' started by 0008, Nov 25, 2008.

  1. 0008


    If the price keeps on moving and you wait for retracement you will miss the boat. But chasing the price is risky. What would you choose to do?
  2. sk8erboy


    chase with half of your position, and then add another 1/2 on the retracement
  3. =====================

    Miss the boat?? Much prefer a sinking boat in a bear marlket;
    not that i would broadcast that to general public.

    But this website is not general public:cool:

    Daily charts help me a lot;
    main long term 200 day trend helps,
    medium trend helps [ down in bear market]
    short trem trend means the least

    Got in late, in sinking boat C;
    trade went against me for some time, but monthly support & resistance/ charts are handy . Covered real close to $5.00 because simply like to tighten stops the longer i stay in a trade.

    I thought C may go below $5. but did not have the conviction, to hold thru much of a retrace.

    Conviction that comes from focusing on a few;
    helps also.Staying in a trend long enough to profit nicely is another way to deal with risk,also.

  4. Learn the difference between a retrace and a reversal.

    - Spydertrader