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DislikedMarket Wizards - Monroe Trout interview
What else did you learn on the floor?
I learned about where people like to put stops.
Where do they like to put stops?
Right above the high and below the low of the previous day.
One tick above the high and one tick below the low?
Sometimes it might be a couple of ticks, but in that general area.
Basically, is it fair to say that markets often get drawn to these points? Is a concentration of stops ata certain area like waving a red flag in front of the floor brokers?
Right....Ignored
DislikedIgnored
Dislikedthats one way to look at it..or its a bull flag with false break to downside..now waiting for up side breakIgnored
DislikedWell this is my view of the current market.
Been going nowhere lately
http://www.youtube.com/watch?v=G152f...eature=relatedIgnored
DislikedOh I didn't mean to go short here. It's just something well worth marking off on the charts each day.. Also we know retail traders put there stops behind the round numbers.
Especially useful when there are supply and demand levels right where stop clusters are.Ignored