|
PureBytes Links
Trading Reference Links
|
aogorman@xxxxxxxxx wrote:
> 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
No matter if you stand in front of the train or you slide down the backside of
a move. You are taking a chance, that the top will hold or be taken out. So I
have found that being wrong in such a case I just get long again. An audit of my
trading when I was doing research for Smith Barney showed that on the trades
that I flipped positions immediately after being wrong. I regained 75% of my net
losses. Pretty incredible, I think! Not my ability but rather my inability to be
Bull headed. I'm a chicken and proud of it. A chicken up to a point, I have done
my testing and know 90% of the time the size of the moves coming in this
mode I'm in front of the train. Until a point that is pre determined by the
computer. The computer has to have the safeguard and you have to follow it.
Because you can not react fast enough or even make a sound judgment when
you are stressed out over a loosing position. So as far as systems : I operate
on the assumption I am always correct. But when I'm not I don't decide I'm
not I let the computer decide. Not that I need to be stopped out, but rather
that I have the direction wrong. If I jump off a train going the wrong direction
and I just go back to the station another train may not come back by for months.
So I have to get back on the other train going the other direction immediately....
If I think I miss it...... so I have a rope tied to the other train just in case. I do
sometimes get pulled into.. good thing I got my book on do it yourself surgery
that I bought at a seminar in Florida... Mark Brown
|