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I don t think a fish can hold a patent, but if it could, Niloticus would hold the patent for a widely used technique called Carrier Sense, Multiple Access with Collision Detection. Please read on. Perhaps the best-known, contention-based medium access scheme is Ethernet, a product developed by 3Com founder and Xerox PARC veteran Bob Metcalfe. In contention-based LANs, devices attached to the network vie for access using the technological equivalent of gladiatorial combat. If it feels good, do it is a good way to describe the manner in which they share access (hence the Berkeley Method). If a station wants to transmit, it simply does so, knowing that the possibility exists that the transmitted signal may collide with the signal generated by another station that transmits at the same time. Even though the transmissions are electrical and are occurring on a LAN, there is still some delay between the time that both stations transmit and the time that they both realize that someone else has transmitted. This realization is called a collision, and it results in the destruction of both transmitted messages as shown in Figure 5-19. In the event that a collision occurs as the result of simultaneous transmission, both stations back off by immediately stopping their transmissions, wait a random amount of time, and try again. This technique has the wonderful name of truncated binary exponential backoff. It s one of those phrases you just have to commit to memory because it sounds so good when you casually let it roll off the tongue in conversation. Ultimately, each station will get a turn to transmit, although how long they may have to wait is based on how busy the LAN is. Contentionbased systems are characterized by what is known as unbounded delay,



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A volatility exit depends on recognizing that the level of risk is increasing due to rapidly rising market volatility, actual or potential. Under such circumstances, it is prudent to close out positions and, in so doing, limit exposure. For instance, when volatility suddenly expands on high volume after a sustained trend, a blow-off top might be developing. Why not sell off long positions into the buying frenzy Not only may a sudden retracement be avoided, but the fills are likely to be very good, with slippage working with, rather than against, the trader! Another volatility exit point could be a date that suggests a high degree of risk, e.g., anniversaries of major market crashes: If long positions are exited and the market trends up instead, it is still possible to jump back in. However, if a deep downturn does occur, the long position can be reentered at a much better price! What else constitutes a point of increased risk If an indicator suggests that a trend is about to reverse, it may be wise to exit and avoid the potential reversal. If a breakout system causes a long entry into the S&P 500 to occur several days before the full moon, but lunar studies have shown that the market often drops when the moon is full and the trade is still being held, then it might be a good idea to close the position, thus avoiding potential volatility. Also remember, positions need not be exited all at once. Just a proportion of a multicontract position can be closed out, a strategy that is likely to help smooth out a trader s equity curve.





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Downloaded from Digital Engineering Library @ McGraw-Hill (www.digitalengineeringlibrary.com) Copyright 2004 The McGraw-Hill Companies. All rights reserved. Any use is subject to the Terms of Use as given at the website.

Note Many of the animation examples use the Canvas.Left and Canvas.Top attached properties to change an object s position during animation. In more complete applications, this is a poor approach because it assumes the object being animated is within a Canvas and that the position uses absolute coordinates. A much better approach to animating the position and size of objects is to animate the TranslateTransform and ScaleTransform properties that belong to the object being animated.

ment is still somewhat in the future because of the logistics of deployment. Its use, however, is growing at a rapid rate.

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A barrier exit is taken when the market touches or penetrates some barrier, such as a point of support or resistance, a trendline, or a Fibonacci retracement level. Barrier exits are the best exits: They represent theoretical barriers beyond which interpretation of market action must be revised, and they often allow very close stops to be set, thereby dramatically reducing losses on trades that go wrong. The trick is to find a good barrier in approximately the right place. For example, a money management stop can serve as a barrier exit when it is placed at a strong support or resistance level, if such a level exists close enough to the entry price to keep potential loss within an acceptable level. The trailing exit also can be a barrier exit if it is based on a trendhne.

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