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At 05:18 PM 6/26/98 -0400, you wrote:
>Please correct me if I'm wrong but it seems to me that every profitable
>trader does the same thing:
>
> 1. finds a trending market and enters on a pullback
>
> 2. or finds a trading range market and trades the swings
>
> 3. or finds a potential breakout situation and goes with the
> flow
>
> 4. or finds what looks like a top or bottom formation and
>climbs on for the return trip.
>
>If a trader doesn't know which of these 4 things he's doing then he
>doesn't know what he's doing.
>
etc. <snip>
This is really good. Alot of us think too much. Need to simplify. This also
reminds me of Bruce Babcock's book on the 4 Principles of Trading (or
something like that):
1. Trade with the trend.
- or, you could say, as you did, go with the current market condition!
2. Control risk, manage your bankroll.
3. Let profits run.
4. Cut losses quickly.
Contrary to what many say, this is not hard to do, only that it may be hard
to do if we make it so by complicating things.
David Cicia
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