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Adam,
You wrote: "......I spent all my time doing analysis, but couldn't find a
good way to pull the trigger (trade).
The Pitchforks, were then added to the Krausz charts...but that just helped
my analyzing,
still couldn't trade....."
A couple of years ago, I attended a workshop with Howard Abel and Bob
Koppel ("The Day Trader's Advantage") and heard the statement, " You don't
know, and you will never know, and you don't need to know".
A year later, I heard Mark Douglas make the same statement, and I
understood that I will never know if a buy/sell decision is correct, and I
do not need to know as long as I have a pre-arranged exit and the
discipline to execute and the ability to take a loss. This released me of
any problems with putting on a trade. Think about it.
Al Taglavore
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From: Adam Hefner <vonhef@xxxxxxxxxxxx>
To: metastock@xxxxxxxxxxxxx
Subject: Re: Mother of all Highs
Date: Saturday, April 15, 2000 10:33 PM
Ton,
Thanks for taking the time to explain how you approach your trading
decisions.
You said that you were "...an overall average Technical Trader", well I
consider myself
a student with much to learn! It's funny that you bring up my Point &
Figure history,
I believe that it (P&F) is a valid trend following method, but I had given
the development
of the Point & Figure Indicator a rest after struggling with MetaStock's
language
barriers (It should now be possible using "Power Basic" or "C++" and the
developers kit).
I was trying to create an indicator that would plot on a bar chart were the
"x"'s and "o"'s
of a P&F chart would be. If this can accurately be done using different
point and reversal
value's, then this indicator could be used in the system tester for
analysis. After this
struggle, I became interested in Robert Krausz's Stuff... some of it didn't
seem to work,
but I really liked the Multiple time frames and having a specific
definition for trends.
But as you mentioned (and what took me months to learn) "You do the
Analysis first",
So ... were am I now? Still a student of this madness, but I am learning
how to pull the trigger.
..........snip, snip
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