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Harley Meyer wrote:
.......it is better to be in the market than out.
Not so, as one day, by the looks of it, you are sure going to find out!
There are many, many times when it is better to stand aside than be in the
market. If you are in the market you are at risk, therefore you had better
know what reward you can see.
Money management and risk/reward is what this business is all about. You can
be wrong two-thirds of the time and still make money, if you plan your trades
with a specific risk/reward ratio each time. If you can't see a proper plan
to make money in the market, then stand aside. Why risk sudden moves,
perhaps sudden fast market conditions with your stops being run through, etc,
etc.
Let your maxim be: Be in with an edge, or else sit on the edge
Bill
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