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Hi real traders,
as many of you know i ("gary in hawaii") was kicked off real traders a month
or so ago, then recently spent $2 and snuck back on.
* to trading: the oex and s+p made a picture perfect bear flag/channel
- NO need for expensive seminars
- NO need for the latest overpriced system
- NO need for natures pulse, what the heck is that, a vitamin?
- NO need for hotlines
- Just spend a few bucks on some basic daily charts with stochastics
and WAIT for ideal set-ups like this
YEARS of experience watching prices and charts told me the market was going
to sell off big a while back and again now. So i posted "NOT hindsight"
posts, remember? How can you lose? notice the "picture perfect" bear
flag/channel
on the daily charts of dow, snp, ndq and near overbought stochastics. we
just "walked the plank" for the last 4-5 weeks, it's time to take a
dive.....
if you were a "day-type-trader" you would of shorted today/yes't as we BROKE
the bottom uptrend of this flag/channel, and the only question you would
have is "where do i get out", "how much do i want to make".
Bottom Line: Stick to BASIC charts and common sense, and WAIT for ideal
set-ups and you will always make money. There are NO secrets, it's all a
battle of yourself against yourself. I stated this weekend i was taking the
"rent money",
literally, and buying a 505 oex put, NOT hindsight, on my private group
post.
well, i did, because after watching prices and charts for years i knew it
was going to happen........for MANY reasons.....trans, etc,etc,etc.
so do i get out today/tomorrow or this coming black monday....
daily stochastics still have room down......thank you nikkei
too.....bla.bla.bla, etc,etc,etc....
again, refer to my "NO" list up above.
this is my final post, why haven't i been kicked off?
anyway, if you want to be added to my private group where i send you my
comments/observations on the markets for FREE, just e-mail me with a "yes"
at
charlie@xxxxxxxxxx
have a nice life "real-traders"......
gary
hawaii
Message-----
From: Michael Mangiafico <mmangia@xxxxxxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, October 01, 1998 2:58 AM
Subject: astrology
>Back to trading:
>
>
>Don't let my subject heading fool you, I am in no way using any
>astrology in my trading, I currently have a very successful S&P position
>trading system. But there are always to improve anything
>
>I am posting this becuase about a month ago there were a lot of posts
>going around about how successful astrology can be. So I researched it
>a little bit.
>
>A post about six months ago showed probabilities of down markets before
>and after full moons. I didn't think anything of it then.
>
>End of day Wednsday I had a sell signal in my trading system on the SnP
>and a long order if SnP reached 1018 cash, which it did. I reversed and
>went long. Now, I know we are sitting on major support, and if broken,
>we could see some damage. At 3:30 am this morning east coast time,
>spoo's went from up 5 to down 5. I reversed my position and went short,
>becuase of my system rules, not becuase of astrology.
>
>I found myself going back to bed at 3:45 am thinking of astrology. I
>remember, 3 days before a full moon has 80% probability of down market.
>Believe it or not, I was more comfortable going to sleep.
>
>I am by no means incorporating this full moon concept into my trading,
>but if there sell signals are in line with mine, all the better.
>
>Does anyone have any idea where I could get that post on full moon
>before and after market stats and a very good web site that outlines
>trading strategies using astrology, as I would like to investigage this
>further???
>
>ps: I am also looking to pick up a book on Point and figure charting.
>Does anyone have any recommendations for the better book????
>
>Thanks,
>
>MM
>
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