Trading Markets

Wednesday I felt like a genius…then came Thursday

What a bust! Although, I do not use my personal emotions for
trading decisions (notice how I even try to separate my
emotions from me as a person even when I write!), these types
of trades can really get to you!

Q: Please explain the relationship between Fibonacci numbers and the apparent tendency of some stocks to reverse directions as t

A: The topic of Fibonacci numbers is subject to debate (often lively!) when it comes to the markets. Some believe that retracement to the Fib ratios (most commonly used are .382, .50 and .618) often provides a pivot point. Whether you believe in them or not, you can’t ignore the fact that they are watched by some traders. That, in and of itself, may be reason enough to consider these ratios – in other words it could be a self-fulfilling prophecy. This may be what you have observed.

Darren Wong

Darren Wong is an Associate Editor at TradingMarkets.com. Darren writes a number of daily columns and is moderator of TradersWire, an interactive online room for active traders. He has traded equities professionally focusing on swing and day trading techniques and now trades Forex exclusively. Darren’s specialty is educating readers by simplifying profitable trading strategies. He is a graduate of the University of California, Irvine with a degree in Computer Engineering.

Q: If you have been stopped out once or twice on a stock at a loss, do you jump back in with a reverse position?

A: The best traders are flexible and persistent. They are willing to take several “stabs” at a market before giving up. They are also equally willing to go either long or short. However, just because you are stopped out twice on a long, doesn’t mean the market is headed lower and you should go short. Unless you have a definite signal that the trend has reversed, then you should avoid reversing a position simply because you got stopped out.

It seems like if it’s a good short, the price travels too far down before an uptick occurs. Any ideas on how to deal with this p

It seems like if it’s a good short, the price travels too far down before an uptick occurs. Any ideas on how to deal with this problem?A: As a trader, I believe in free markets. In my opinion, the uptick rule for stocks (there is no uptick rule in futures) is one more regulation that reduces market freedom. Your observation is correct: Stocks can get away from you on the short side if they don’t uptick. In general, less liquid stocks and more volatile stocks tend to move further without an uptick. Therefore, if you are having problems getting your shorts off (no pun intended), you might try to focus on more liquid or less volatile stocks–or change your methodology for thinly traded and volatile stocks. For example, you might find it easier to enter on a pullback instead of a breakout in these stocks. Even though shorting stocks does have its pitfalls, you must make it part of you trading regimen to survive in the markets long term.