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. -----Original Message-----
From: BrentinUtahsDixie <brente@xxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, July 30, 1998 4:57 pm
Day trading generally requires a gun slingers
>mentality and skill.
The rest of your final 2 cents is fine, but I have to take issue with you on
the above extract - at least so far as the Bonds is concerned. When I say
day trading, I mean just that - not scalping. If you were trying to scalp
the Bonds, yes - even if you were trying to day trade the S&P, you might
need to have that 'gun slingers' mentality. But not day trading the Bonds.
At least, certainly not the way I do it.
And, nor of course, would I propound it - especially to newbies.
All I am suggesting is that you can learn to read the tape (I am talking
Bonds here) and do not need conventional indicators by the ton to do it.
The fact I don't recommend any, is only because I have not found a need for
them. Dear O dear, if I thought an RSI or triple crossover MA would do the
trick, I'd be the first to say so.
Why not? If someone has an indicator that works, use it. All I am
suggesting is don't waste a mass of time, energy and maybe money looking for
some wonderful indicator to tell you what to do. Most newbie's search for
them and systems to be able to trade with buy and sell signals. I've been
there, done that and didn't bother with the T-shirt. Now I'm on the
T-Bonds and you don't need an indicator.
I'll say no more because I am not trying to convince anyone to do anything.
I don't have to - I am not selling indicators!! But for some people I
might, through the manual, just save them a lot of heartache or banging
their heads on a brick wall trying to find a leading indicator that will
give them their fortune...
Let's move on...
Happy Trading
Bill Eykyn
>> T-Bonds. For clarity, let me say it again, DAY TRADING THE T-BONDS.
>
>My last 2 cents regarding this. This is directed at newbies; it is my
>understanding that there are more losing day traders than any other
>approach to trading. In other words you had better be able to spit out
>three correct orders while most are trying to think of one. You should know
>yourself well enough to know whether or not this is your forte.
>
>Price patterns can be found in all time frames. By the way trading price
>patterns is an interpretation of the past and therefore a lagging
>indicator. You can use indicators like Linear Regression and trade based on
>the relationship of the indicator to price as well I suspect as someone can
>trade a pattern.
>
>What you choose to do with your money in regards to buying anything from
>vendor's is your business but 'buyer be where'. My recommendation is to
>find the methods and approach to trading that works for you. In other words
>I'm not saying that you should use or not use indicators or what have you.
>You decide.
>
>Best Regards,
>
>Brent
>
>
>
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