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Forum Archive Index - September 2002

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[sharechat] All Ords Index


From: Phaedrus <Phaedrus@techemail.com>
Date: Mon, 23 Sep 2002 19:56:29 -0700 (PDT)


T100,
      I think your interpretation of the All Ords chart was OK (In a trading 
range, within a long-term uptrend) I can't really add any further useful 
comment. Jefley was right in that where the trendline is drawn depends a lot on 
how far back you look. Go back far enough, and there is no trading range 
apparent, just a continuing long-term uptrend. To my mind there is limited 
value in going back more than, say, ten years.

 With regard to the practicalities of using stops, there are several 
alternatives.
(1) Use a fixed stop placed with your broker, with the attendant risk of being 
flicked out by intraday volatility. The most logical place for such stops is 
just under a previous support level.
(2) Some brokers provide trailing stops, either a certain percentage of the 
price or an absolute value price fall. Again there is a risk of being taken out 
by an intraday low.
(3) Do not place your stoploss order with the broker. Check the market before 
the close, and act accordingly. You could perhaps set up your stoplosses as 
email (or other) alerts, thus avoiding the need to check the market unless an 
alert is received.
(4) Check the market after it has closed. Place your orders to sell at the Open 
next day any stocks that have triggered sell signals or hit stop loss levels.
 If you are going to be unduly upset being taken out too early by stoplosses, 
set them further away from the price action, and avoid thinly traded or very 
volatile stocks.

           Phaedrus.


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