Forum Archive Index - November 2002

["trader 100" <trader_100@hotmail.com>]

Phaedrus,

Thanks for your feedback.

My reasons for "buying" STU were as follows:

1. A break of >= 2% above resistance
2. DI+>DI- and ADX 4 points of its low.

I defined the resistance level as being at 3.05 as it is this level that 
price has approached and failed to penetrate on 4+ occasions since April.  
Prior to 24/10 the recent high on my chart was on the 22/3 at 3.15.  I 
understand for your posts over the years that much of TA should be viewed in 
terms of risk and reward.  I talk more risk by not waiting for prices to go 
through the 3.15/3.20 range but my potential reward was greater.

On the DMI front I applied Elder's entry rule.  My system requires either 
Elder's rule or the one you mention.  I have just evaluated all my paper 
trades and it appears that the rule you mention is far better than Elder's 
so I need to consider dropping it.  My trading profitability most certainly 
would have been enhanced if I wasn't using the Elder rule.

Regards,

T100.




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