Hi guys. Just starting to take an interest in trading and have joined the forum. I've been "buying & holding" for a number of years, mainly due to the "rabbit in headlight syndrome", but I think I can now convince myself to sell on market movements!
I've been working through Curtis Faith's "Way of the Turtle" and have a couple of quick queries/clarifications that I hope someone can answer for me..
1) I think most people think of stop losses in terms of rolling stops, but on P263/4 the implication is that the 2N stops only refer to the entry point and that the planned "exit" is another animal. Is my understanding correct?
2) System 2 exit, P 268. "Exit is a 20 day low for long positions."
Does the 20day count start at the entry point, a low after it, or is it from a low sometime before the entry point? The entry is on a breakout, so previous points must be lower.
Assistance appreciated!
I've been working through Curtis Faith's "Way of the Turtle" and have a couple of quick queries/clarifications that I hope someone can answer for me..
1) I think most people think of stop losses in terms of rolling stops, but on P263/4 the implication is that the 2N stops only refer to the entry point and that the planned "exit" is another animal. Is my understanding correct?
2) System 2 exit, P 268. "Exit is a 20 day low for long positions."
Does the 20day count start at the entry point, a low after it, or is it from a low sometime before the entry point? The entry is on a breakout, so previous points must be lower.
Assistance appreciated!
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