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Thanks for the reference. Agreed, good book.
On of the best I've ever read says:
"Never let U' re bag of tools be overfilled until the noise of information
systems clog the channel of clear cogitation."
and
"A traders greatest mistake is watching the market and making decisions
based on possible reactions to price moves."
Quoting, Charles Drummond. "How to Make Money in the Futures Market...and
lots of it."
See U
Tom
-----Original Message-----
From: aogorman@xxxxxxxxx <aogorman@xxxxxxxxx>
To: omega-list@xxxxxxxxxx <omega-list@xxxxxxxxxx>
Date: Tuesday, February 10, 1998 10:45 AM
Subject: RE: Price vs Move
>The natural concentration on price, depending on your system, may well be
>because you have identified the particular behaviour in price that
>results in an upcoming move.
>
>Many systems out there do not seek to buy at the lows and sell at the
>highs. Indeed many people believe that it is attempting to capture all
>of a move will result in loss making. Reminiscences of a Stock Operator
>is an excellent book which, reading between the lines, suggests just
>this, and this book was written over 75 years ago.
>
>Aongus O'Gorman
>Gandon
>
> ----------
>
>There is a natural concentration on price when constructing a trading
>methodology or system. The idea being to capture and sell the high or
>low as close as possible to maximize leveraged gains without incurring
>consumate risks and drawdowns.
>
>Movement should be the first area of concentration when attempting to
>maximize profits. Has there been any attempts to identify periods of and
>capture maximum price "movement" instead of highs and lows.
>
>Which would you rather have, selling the high of a swing and have the
>price
>stay within a 1% range for the next 10 days or sell before a 20% move for
>the next 2?
>
>Any work or thoughts on this would be welcomed.
>
>See U
>Tom
>planeacres@xxxxxxxxxxxxxxxx
>Always question Authority, they deserve it.
>
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