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Tom:
<P>Could you please provide more on this. Is it a ROC of adv./dec
issues or what?
<P>Thanx,
<P>Bob
<P>Tom wrote:
<BLOCKQUOTE TYPE=CITE> <FONT SIZE=-1>Harley, most of us have experienced
what you are going through now...take Rick's and the other members advice
that has been posted. My two cents - - what turned my trading around
100% was staying on the right side of the market and I have found the Intermediate
Term Breadth Momentum Indicator to always keep me out of trouble.
I would recommend Harley that you really consider going short/long when
that indicator is rising/falling. That indicator portends the overall
health of the market.</FONT> <FONT SIZE=-1>Best of trading to you
and the other members.</FONT><FONT SIZE=-1>Tom</FONT>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px"><B><FONT FACE="Arial"><FONT SIZE=-1>-----Original
Message-----</FONT></FONT></B>
<BR><FONT FACE="Arial"><FONT SIZE=-1><B>From: </B>metastock@xxxxxxxxxxxxx
<metastock@xxxxxxxxxxxxx></FONT></FONT>
<BR><FONT FACE="Arial"><FONT SIZE=-1><B>To: </B>Tuva1 <Tuva1></FONT></FONT>
<BR><FONT FACE="Arial"><FONT SIZE=-1><B>Date: </B>Saturday, November 07,
1998 2:14 AM</FONT></FONT>
<BR><FONT FACE="Arial"><FONT SIZE=-1><B>Subject: </B>Re: NWAC, KEA and
AMAT</FONT></FONT>-----Original Message-----
<BR>From: William F. Nakielski <frt1000@xxxxxxxxxx>
<BR>To: metastock@xxxxxxxxxxxxx
<metastock@xxxxxxxxxxxxx>
<BR>Date: Saturday, November 07, 1998 10:24 AM
<BR>Subject: Re: NWAC, KEA and AMAT
<BR>
<P>Couldn't agree more. I believe it took a lot of courage for Harley
to publish that piece. How many of us would be willing to admit to
mistakes like that. I for one hope his account turns around very
soon. I can truthfully say "Been there, Done that". Only thing
is at the time I didn't have the guts to admit it publicly.
<P>---------------------------------------------
<P>Courage? Admit a mistake? That's not the way I read it!
<P>Instead of dealing with his setback pro-actively he's decided to hide
from it by playing Mr. Mom. He whines he can't do anything because he doesn't
have any buying power. Ridiculous! Trading courage is taking the loss when
the market has proven you wrong. If he could only admit that, then he'd
bring in his shorts, get his buying power back, learn from his mistakes,
put the loss behind him, and move on to the next trade.
<P>Unfortunatley, Harley still thinks he's right despite having his head
handed to him daily for almost a month now. Worse, he still would like
to short more though we are heading into what are traditionally the strongest
months of the year for the market. "If only he could get a correction,"
he moans........Sorry Harley, but we just rotated out of a big one. Next
one ain't due untill next summer. Hubris in the midst of failure is a stupid
and expensive loser's habit. It's a characteristic of the "rogue
trader" that has destroyed great firms, caused financial panics, and cost
otherwise intelligent people their careers.
<P>Only a few weeks ago Harley was waxing on about "booking profits" of
3/8ths of a point on 100 share trades. Even speculated that trading could
be his life's calling. So here was pulling the trigger as fast as he could
to "book profits" on tinies yet now he's willing to take 6 point losses.
Letting even 1 bad trade wreck months of acculated profits is stupid and
inexcusable. Harley has 3. To freeze and do nothing while the losses mount..........sorry,
he needs people to slap him, not to commiserate. I wonder if his wife even
knows?
<P>Unlike Jim Green's [I'm calling him "the Swami" now. C'mon, I
mean Iomega, how'd he know?] trading posts, the only thing of value a trading
beginner can take away from Harley's post's ON HIS TRADING is how a complete
lack of a sound trading strategy and money management plan can lead to
disaster. He may be a beginner too, but the info and advise available to
him over the last year in this forum should have him much further along
the learning curve than he demonstrates in his posts.
<P>As one who's managed to survive 12 years and even make nice living at
this, I felt the pathetic tone of his last post alarming. I've heard the
same words from many others who have ended up needlessly destroying their
families financial well-being. My intention is to be harsh and humiliate
him into taking action before it is too late. My words spring from heartfelt
concern, not meanspirited-ness.
<P>So Harley, please, please get out of the market, get your thinking straight,
decide if trading is reeealllly what you want, then put in the effort to
formulate sound, backtested trading and money management strategies consistent
with your account size. More importantly and much harder to do, you need
to develop the trading habits of a winner, not a loser.
<P>Good luck,
<BR>Rick
<BR>Tokyo, Japan
<BR>
<BR> </BLOCKQUOTE>
</BLOCKQUOTE>
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</x-html>From ???@??? Sat Nov 07 10:51:02 1998
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Date: Sat, 07 Nov 1998 10:07:25 -0800
From: "Don Hughes" <daringdon@xxxxxxxxxxx>
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Subject: Re: NWAC, KEA and AMAT
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On 11/7/98, at 3:06 PM, Rick Mortellra wrote:
"
>As one who's managed to survive 12 years and even make nice living at this,
Why have we not seen any of your picks?
Right or wrong, Harley is at least willing to tell us what he is doing.
Those that can do, do.
Those that can't do, are the quickest to jump on mistakes of others who are trying.
Show us how year 13 is going, Rick.
Don Hughes
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