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The Daytrader newsletter is a daily publication which calculates, using both popular and proprietary methods, and displays in a graphic format, important near term technical support and resistance areas, over-bought/over-sold indicators, and key expected activity zones in actively traded stocks and commodities. It is a trading tool designed to indicate changes in minor trend direction and to project likely near-term support and resistance areas using a combination of several overlapping technical indicators rather than just one method.
Daytrader was originally designed by the author as a near-term risk management tool -- an attempt to systematically limit the size of losses in his own trading, by operating under the theory that it is important to protect against unnecessary early large losses in a position (in the event of poor timing on the initial entry of that position) in order to insure sufficient equity would be available for re-entry in the market at a later time. What DayTrader has ultimately become to its users is sort of a technical 'sidekick', a quick reference of daily technical points which can be used both offensively and defensively with near-term and longer-term trading strategies.
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