Go to Jeff Salisbury LWGate Home Page.From: "Chuck Dreier" <chucknsc@mindspring.com>
Subject: Re: [CANSLIM] STOPs
Date: Wed, 21 May 2003 14:04:33 -0400
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This is a multi-part message in MIME format. - ------=_NextPart_000_0006_01C31FA1.E7A51FA0 Content-Type: text/plain; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable Please explain "trailing stop". How is that different than the stop = loss that I'm familiar with? Thanks.... Chuck ----- Original Message -----=20 From: jeffwdc=20 To: canslim@lists.xmission.com=20 Sent: Wednesday, May 21, 2003 1:24 PM Subject: Re: [CANSLIM] STOPs Rolf, I asked a similar question a couple of months ago.=20 Tom Worely posted a reply, but I regret I can't find his actual message -however I did print a hard copy. =20 On 3/20/03 Tom wrote: ...the normal procedure I use is to leave the stop loss unchanged (from the 8% stop placed after purchase) until I am up at least 15%. At that point, I raise my limit to my original entry point (or aveerage price if multiple purchases). After that, I try to us a trailing stop 15% below the prior day (sometimes the closing price, sometimes the intraday high, depends on the chart, stock, fundies, how badly I want to take profits, etc.) Of course, once raised, the stop loss should NEVER be lowered. Also found this message from Tom written on 4/21/03: "I think any stop loss price should be selected after studying the chart, and considering your entry point. When I use hard stops, I like to put them just under where I see support, figuring if it goes thru short term support then it could go down a lot further. When I really don't want to be stopped out, and especially when I already have a nice profit, I tend to use looser stops." Jeff Gasta Note: I am now using a new e-mail address. --- Rolf Hertenstein <rolfh@mindspring.com> wrote: > Just curious how folks manage their mental or hard* > STOPs on a broken-out stock that is behaving well > (gaining steadily over a few months with a few > 10-15% corrections). I'm especially curious about > techniques people might use in this market. >=20 > A 'standard' technique uses a trailing STOP at xx% > below the currwnt price. Another technique I have > read about sets STOPs in relation to the 50 or 200 > DMA, with the hope that allowing the stock > relatively wide swings ultimately leads to big > gains, as long as the DMA is still rising. >=20 > Any thoughts greatly appreciated. >=20 > Rolf >=20 __________________________________ Do you Yahoo!? The New Yahoo! Search - Faster. Easier. Bingo. http://search.yahoo.com - -To subscribe/unsubscribe, email "majordomo@xmission.com" -In the email body, write "subscribe canslim" or -"unsubscribe canslim". Do not use quotes in your email. - ------=_NextPart_000_0006_01C31FA1.E7A51FA0 Content-Type: text/html; charset="iso-8859-1" Content-Transfer-Encoding: quoted-printable <!DOCTYPE HTML PUBLIC "-//W3C//DTD HTML 4.0 Transitional//EN"> <HTML><HEAD> <META http-equiv=3DContent-Type content=3D"text/html; = charset=3Diso-8859-1"> <META content=3D"MSHTML 6.00.2800.1170" name=3DGENERATOR> <STYLE></STYLE> </HEAD> <BODY bgColor=3D#ffffff> <DIV><FONT face=3DArial size=3D2>Please explain "trailing stop". = How is that=20 different than the stop loss that I'm familiar with? =20 Thanks....</FONT></DIV> <DIV><FONT face=3DArial size=3D2>Chuck</FONT></DIV> <DIV> </DIV> <BLOCKQUOTE=20 style=3D"PADDING-RIGHT: 0px; PADDING-LEFT: 5px; MARGIN-LEFT: 5px; = BORDER-LEFT: #000000 2px solid; MARGIN-RIGHT: 0px"> <DIV style=3D"FONT: 10pt arial">----- Original Message ----- </DIV> <DIV=20 style=3D"BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: = black"><B>From:</B>=20 <A title=3Djeffwdc@yahoo.com = href=3D"mailto:jeffwdc@yahoo.com">jeffwdc</A> </DIV> <DIV style=3D"FONT: 10pt arial"><B>To:</B> <A = title=3Dcanslim@lists.xmission.com=20 = href=3D"mailto:canslim@lists.xmission.com">canslim@lists.xmission.com</A>= </DIV> <DIV style=3D"FONT: 10pt arial"><B>Sent:</B> Wednesday, May 21, 2003 = 1:24=20 PM</DIV> <DIV style=3D"FONT: 10pt arial"><B>Subject:</B> Re: [CANSLIM] = STOPs</DIV> <DIV><BR></DIV>Rolf,<BR><BR>I asked a similar question a couple of = months ago.=20 <BR>Tom Worely posted a reply, but I regret I can't find<BR>his actual = message=20 -however I did print a hard copy. <BR>On 3/20/03 Tom = wrote:<BR>...the=20 normal procedure I use is to leave the stop<BR>loss unchanged (from = the 8%=20 stop placed after<BR>purchase) until I am up at least 15%. At = that=20 point,<BR>I raise my limit to my original entry point (or<BR>aveerage = price if=20 multiple purchases). After that, I<BR>try to us a trailing stop = 15%=20 below the prior day<BR>(sometimes the closing price, sometimes the=20 intraday<BR>high, depends on the chart, stock, fundies, how badly<BR>I = want to=20 take profits, etc.) Of course, once raised,<BR>the stop loss = should=20 NEVER be lowered.<BR><BR>Also found this message from Tom written on=20 4/21/03:<BR><BR>"I think any stop loss price should be selected=20 after<BR>studying the chart, and considering your entry point.<BR>When = I use=20 hard stops, I like to put them just under<BR>where I see support, = figuring if=20 it goes thru short<BR>term support then it could go down a lot=20 further.<BR><BR>When I really don't want to be stopped out, = and<BR>especially=20 when I already have a nice profit, I tend<BR>to use looser = stops."<BR><BR>Jeff=20 Gasta<BR>Note: I am now using a new e-mail address.<BR><BR>--- Rolf=20 Hertenstein <<A=20 href=3D"mailto:rolfh@mindspring.com">rolfh@mindspring.com</A>> = wrote:<BR>>=20 Just curious how folks manage their mental or hard*<BR>> STOPs on a = broken-out stock that is behaving well<BR>> (gaining steadily over = a few=20 months with a few<BR>> 10-15% corrections). I'm especially = curious=20 about<BR>> techniques people might use in this market.<BR>> = <BR>> A=20 'standard' technique uses a trailing STOP at xx%<BR>> below the = currwnt=20 price. Another technique I have<BR>> read about sets STOPs in = relation to the 50 or 200<BR>> DMA, with the hope that allowing the = stock<BR>> relatively wide swings ultimately leads to big<BR>> = gains, as=20 long as the DMA is still rising.<BR>> <BR>> Any thoughts greatly = appreciated.<BR>> <BR>> Rolf<BR>>=20 <BR><BR><BR>__________________________________<BR>Do you = Yahoo!?<BR>The New=20 Yahoo! Search - Faster. Easier. Bingo.<BR><A=20 = href=3D"http://search.yahoo.com">http://search.yahoo.com</A><BR><BR>-<BR>= - -To=20 subscribe/unsubscribe, email "<A=20 = href=3D"mailto:majordomo@xmission.com">majordomo@xmission.com</A>"<BR>-In= the=20 email body, write "subscribe canslim" or<BR>-"unsubscribe = canslim". Do=20 not use quotes in your email.<BR></BLOCKQUOTE></BODY></HTML> - ------=_NextPart_000_0006_01C31FA1.E7A51FA0-- - - - -To subscribe/unsubscribe, email "majordomo@xmission.com" - -In the email body, write "subscribe canslim" or - -"unsubscribe canslim". Do not use quotes in your email.
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