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Re: [amibroker] OFF Topic: Trader's Confessions

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To add to what Graham said, NEVER  short when the stochastic of the indexes,DJI, etc are at a low level. 
 
Wait till the index stochastic is at a very high level and starting to look like it is starting to turn down.  Then find an individual stock that has already rolled over the top, then bounced up a bit, and with this SMALL bounce starting to again roll over at a lower high than the high of the previous HHV rollover.  This should get you at least a small profit, and possibly an excellent one.  Ron D 
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----- Original Message -----
Sent: Friday, April 22, 2005 5:55 AM
Subject: Re: [amibroker] OFF Topic: Trader's Confessions

Ara,
 
When you say you Dropped a Bundle.... to me this implies that you did not have a maximum stop loss ( mental or automatic ) set up....
 
You could be using 10 indicators or 1 indicator...if the trade does not do what you expect it to do...Get out immediately using your maximum stop loss....you can always re-enter the market...
 
Also, I do not think it is wise to add to a losing position....if the market is already not doing what you had expected , why would you add to it ?
 
Anthony
----- Original Message -----
To: AB-Main
Sent: Thursday, April 21, 2005 7:19 PM
Subject: [amibroker] OFF Topic: Trader's Confessions

I just dropped a bundle trading the NQ today...
 
In reviewing my trade (yes only one trade), my indicators clearly did not indicate conditions for short entry, nor were any of my adding of positions justifiable, in fact the indicators were quite clear most of the time pointing in the opposite direction.
 
In short, I guess I did not look at all my indicators ( I use basically 3) and must have focused on only one perhaps.
 
Wonder how other traders deal with cockpit errors like this. My system is quite satisfactory to me, but the operator seems to flake out at times....
 
Appreciate any feedback.
 
Ara


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