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Hi
Trying to bring the various strands together:
I agree that forums like RT are useful - we come across ideas
otherwise not available.
For me confidence is a bye product of the psychological state of
"Acceptance". What it is, why it is important and how we can acquire
it, will be the subject of the next article I post on the RT site.
Which brings me to my next point.
It is difficult to disclose substantive ideas in a post. For a start,
each of us has his ideas behind which a wealth of assumptions
and experience lie.
e.g.
If I were to discuss my exit strategies I would say I divide my exits
based on whether the mkt is in a trending or sideways phase.
If trending, I rank the trend. Depending on the ranking, I have
a number of exit strategies.
To get my meaning across in a post, I would have to explain
how I define trending and congestion mkts, how I rank trends,
my assumptions behind the definitions and rankings, what I
look for to tell me that I am on track and the different scenarios
that come into effect when the mkt does not follow my evaluation.
All in all far too long for a post.
What we can do is give an idea of the process and let each
reader fill in the details.
The final point I would make is I agree with Ulrich - while we should
prepare for a probable outcome, we need to prepare for other
possibilities and we must remain open to the info the mkt gives us.
regards
ray
R Barros
101/25 Market Street
Sydney NSW 2000
Australia
Voice: 61 2 92673470
Fax: 61 2 92673478
E-Mail: rbarros@xxxxxxxxxxxxxxxxxx
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