Re[2]: "Proven Correct" indicators

[Randall_Gary@xxxxxxxx]

Thanks for the reply, Fred.

I guess I should have been more specific.  On the "Futures" magazine web 
site <http://www.futuresmag.com/library/phantom/phantom.html> there is an 
interesting free on-line book by an old trader.  The work is anonymous and 
he/she goes by the name of Phantom of the Pits.  It's quite wordy, but the 
rules are sound.  

He contends that once a position is taken it should be watched closely and 
removed if proven not correct, and scaled up if proven correct.  One of his 
suggestions is to look for changes in volume.  He did not go into 
specifics.

I think the best we can hope for is to apply some rule with a statistical 
base.  I'm looking for suggestions along those lines.

Thanks again for your thoughts,

Gary Randall -- Brunswick, Maine