|
PureBytes Links
Trading Reference Links
|
In a message dated 5/9/98 7:58:37 AM Eastern Daylight Time,
Timothy.H.Lee-1@xxxxxxxxxx writes:
<< On further reflection, perhaps there is an easier way to settle the
practice of CR for each trader. Take the profit they missed out on by not CR
and add it to what they lost by CR.
Perform that evaluation over the course of an extended period of trading and
it should give you a rough idea if you are a chaser, or someone who really
knows where the market is going. >>
Hi Tim,
First let me thank you for starting a thread that has generated
some interesting posts. I'm sure that new traders have gained an insight into
the workings of markets by reading the various responses.
To the above statement I would like to add that after doing your
suggested evaluation that traders try to determine WHEN it would be beneficial
to change an order and when not to based on a system or indicator. Since I
have only just begun to think about my own actions (based on your posts,
thanks) I can only say I base them on my "gut feel" for the market, very
unscientific.
With all the experience and computing power of the 1000+
members of Real Traders I'm sure there must be some better ideas. The concept
of when to change an order vs. when to stand pat potentially has nearly as
much value as the concepts of money management have.
Any suggestions from RT's?
Good luck and good trading,
Ray Raffurty
|