Go to Jeff Salisbury LWGate Home Page.From: "David Taggart" <dctag@mavericktrading.com>
Subject: RE: [CANSLIM] STOPs
Date: Wed, 21 May 2003 12:13:05 -0600
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A trailing stop is like a ratchet. Foe instance if you set a $1.00 trailing
stop every time the stock goes up $.01 the stop will move up $.01 as well.
Not too many platforms offer this feature and I dont know of any that hold
it overnight.
Hope this helps,
David Taggart
-----Original Message-----
From: owner-canslim@lists.xmission.com
[mailto:owner-canslim@lists.xmission.com]On Behalf Of Chuck Dreier
Sent: Wednesday, May 21, 2003 12:05 PM
To: canslim@lists.xmission.com
Subject: Re: [CANSLIM] STOPs
Please explain "trailing stop". How is that different than the stop loss
that I'm familiar with? Thanks....
Chuck
----- Original Message -----
From: jeffwdc
To: canslim@lists.xmission.com
Sent: Wednesday, May 21, 2003 1:24 PM
Subject: Re: [CANSLIM] STOPs
Rolf,
I asked a similar question a couple of months ago.
Tom Worely posted a reply, but I regret I can't find
his actual message -however I did print a hard copy.
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.
>
> 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.
>
> Any thoughts greatly appreciated.
>
> Rolf
>
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<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN =
class=3D122271118-21052003>A=20
trailing stop is like a ratchet. Foe instance if you set a $1.00 =
trailing=20
stop every time the stock goes up $.01 the stop will move up $.01 as =
well. =20
Not too many platforms offer this feature and I dont know of any that =
hold it=20
overnight.</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN=20
class=3D122271118-21052003></SPAN></FONT> </DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN =
class=3D122271118-21052003>Hope=20
this helps,</SPAN></FONT></DIV>
<DIV><FONT color=3D#0000ff face=3DArial size=3D2><SPAN =
class=3D122271118-21052003>David=20
Taggart</SPAN></FONT></DIV>
<BLOCKQUOTE style=3D"MARGIN-RIGHT: 0px">
<DIV align=3Dleft class=3DOutlookMessageHeader dir=3Dltr><FONT =
face=3DTahoma=20
size=3D2>-----Original Message-----<BR><B>From:</B>=20
owner-canslim@lists.xmission.com=20
[mailto:owner-canslim@lists.xmission.com]<B>On Behalf Of </B>Chuck=20
Dreier<BR><B>Sent:</B> Wednesday, May 21, 2003 12:05 PM<BR><B>To:</B>=20
canslim@lists.xmission.com<BR><B>Subject:</B> Re: [CANSLIM]=20
STOPs<BR><BR></DIV></FONT>
<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"BORDER-LEFT: #000000 2px solid; MARGIN-LEFT: 5px; =
MARGIN-RIGHT: 0px; PADDING-LEFT: 5px; PADDING-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 href=3D"mailto:jeffwdc@yahoo.com" =
title=3Djeffwdc@yahoo.com>jeffwdc</A>=20
</DIV>
<DIV style=3D"FONT: 10pt arial"><B>To:</B> <A=20
href=3D"mailto:canslim@lists.xmission.com"=20
title=3Dcanslim@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=20
ago. <BR>Tom Worely posted a reply, but I regret I can't find<BR>his =
actual=20
message -however I did print a hard copy. <BR>On 3/20/03 Tom=20
wrote:<BR>...the normal procedure I use is to leave the stop<BR>loss =
unchanged (from the 8% stop placed after<BR>purchase) until I am up =
at least=20
15%. At that point,<BR>I raise my limit to my original entry =
point=20
(or<BR>aveerage price if multiple purchases). After that, =
I<BR>try to=20
us a trailing stop 15% below the prior day<BR>(sometimes the closing =
price,=20
sometimes the intraday<BR>high, depends on the chart, stock, =
fundies, how=20
badly<BR>I want to take profits, etc.) Of course, once =
raised,<BR>the=20
stop loss should NEVER be lowered.<BR><BR>Also found this message =
from Tom=20
written on 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=20
if 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,=20
and<BR>especially when I already have a nice profit, I tend<BR>to =
use looser=20
stops."<BR><BR>Jeff Gasta<BR>Note: I am now using a new e-mail=20
address.<BR><BR>--- Rolf Hertenstein <<A=20
href=3D"mailto:rolfh@mindspring.com">rolfh@mindspring.com</A>>=20
wrote:<BR>> Just curious how folks manage their mental or =
hard*<BR>>=20
STOPs on a broken-out stock that is behaving well<BR>> (gaining =
steadily=20
over a few months with a few<BR>> 10-15% corrections). I'm=20
especially curious about<BR>> techniques people might use in this =
market.<BR>> <BR>> A 'standard' technique uses a trailing STOP =
at=20
xx%<BR>> below the currwnt price. Another technique I =
have<BR>>=20
read about sets STOPs in relation to the 50 or 200<BR>> DMA, with =
the=20
hope that allowing the stock<BR>> relatively wide swings =
ultimately leads=20
to big<BR>> gains, as long as the DMA is still rising.<BR>> =
<BR>>=20
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></BLOCKQUOTE></BODY></HTML>
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