|
PureBytes Links
Trading Reference Links
|
Hi Ray,
I learned the magic of the turtles concepts when I built a system for
the Currencies. First is the psych...The system has no idea where the market
is going only that several times a year they take a long time to get there and
there is real far. Then the other interesting part of it is adding on to the
winning trades. I like that. Then something for the nice guy in me, ....After
a significant profit move it does not reverse but only gets out. I do not want
to punish the market for giving me profits.
Mitch
owner-realtraders@xxxxxxxxxxxxxx wrote:
> Hi Joe
>
> First off I want to say that part of having an edge
> is "dumping".
>
> But if we are talking about an unrealistic dichotomy
> then I have to opt for the edge.
>
> I have interpreted your question this way:
>
> " Can I succeed if I have good trade management
> but no edge in my trading?"
>
> In other words, if I take 100 trades, I know I will lose
> but I am hoping trade management will turn a losing
> trading plan into a winning one. The answer for me
> is trade management can't do that.
>
> For me the role of trade management is to keep the
> losses down and to define the strategy for taking profits.
> If there is no edge, there are no profits to manage. In
> that situation keeping losses down will merely prolong our
> trading life not give us the success we desire.
>
> regards
>
> ray
>
>
> R Barros
> 101/25 Market Street
> Sydney NSW 2000
> Australia
>
> Voice: 61 2 92673470
> Fax: 61 2 92673478
> E-Mail: rbarros@xxxxxxxxxxxxxxxxxx
>
> ----------
> > From: Joe Balsamo <jbalsamo@xxxxxxxxxxx>
> > To: realtraders@xxxxxxxxxxxxxx; rbarros@xxxxxxxxxxxxxxxxxx
> > Subject: Re: Help understand statment.
> > Date: Friday, August 07, 1998 2:38 AM
> >
> > Question to Ray, or whomever chooses to answer...
> >
> > Given the following two scenarios, and assuming that it is obvious that
> > the best of all possible worlds is to do BOTH...
> >
> > If you had to choose only ONE scenario, exclusive of the other, which
> > would you choose?
> >
> > 1) Prefer to have an "edge".
> >
> > -or-
> >
> > 2) Dump the trade unless the market proves you right?
Mitch Ryder
Ynos@xxxxxxxxxxxx
____________________________________________________________________
More than just email--Get your FREE Netscape WebMail account today at http://home.netscape.com/netcenter/mail
|