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I do read and try to respond to everyone that emails. I agree with what
you are saying. But some times you have to get in the market and learn
from the school of hard knocks. I can't learn by paper trading and don't
work hard enough if i don't make a mistake. I did ok today. But could of
done much better. But I learned something important today. Prior to the
market turning up the up/down vol on the NASDAQ with 5 min bars had an
extreme number of sellers for about a 10 minute period. It was the blow
out which I got suckered into. But instead it turned around and the
market headed back up as the buyers entered into the market. Very
valuble information. Now if my guess is correct we might see an up day
tomorrow on the DJIA and NASDAQ.
We'll see.
Harley
Bill Eykyn wrote:
> 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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