|
PureBytes Links
Trading Reference Links
|
:-) :-) :-) I love it when a couple of guys try to split a hair. From what
I have read both of you are in more of an agreement than not. Sooner of
later everybody has to take the plunge based on something or they aren't
trading. Being "right" is nice for the ego. However being inflexible in
trading can be your un-making. But you guys know that. What you are
struggling with is believing your eyes. After you get fooled a few hundred
times you get to where you don't believe your eyes. Then when the
understanding and analysis finally sinks in you find that you can believe
your eyes again. It's a physiological battle.
I at this point in my trading think that there is always a set up and a tip
off for every market action and you don't need news to find them, the
market action will tell you if you can read it. But if you think it was
tough to learn how to read a language it's tougher to learn to read market
action. Good trading and keep up the entertainment.
Brent
----------
> From: Ira <ist@xxxxxx>
> To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> Subject: Re: MKT Rally on light volume
> Date: Saturday, October 24, 1998 12:22 PM
>
> There always seem to be the worry that you are missing the big picture.
What
> difference does it make what the weekly and monthly charts are doing if
you are
> trading 15 or 30 min chart, or using the direction of those to trade the
3 or 5
> min charts. The fact is that the 5 min will turn down before the 30 and
the 30
> before the 60 and the 60 before the daily, etc. So if you are trading
your
> cycle and time frame properly and as your successful system tells you the
big
> down move will not be a surprise as you will be in it way before it shows
up as
> the obvious to the gurus and longer term traders.. Good Trading.
>
> Earl Adamy wrote:
>
> > Sometimes I simply comment on phenomena which I observe without
> > understanding it. In this case the action does not seem to fit with
what the
> > talking heads opine we should see in a bear market rally. Seems like
we've
> > been climbing a wall of worry (fear!) here and many of the underlying
> > technicals are improving. My weekly and monthly charts still say "bear
> > market", however my daily NYSE and NASDAQ charts are looking quite
healthy
> > and I'm leaving open the possibility, based on the daily and
half-hourly,
> > that we may approach the old highs in the S&P.
> >
> > Earl
> >
> > -----Original Message-----
> > From: GREHERT@xxxxxxx <GREHERT@xxxxxxx>
> > To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
> > Date: Saturday, October 24, 1998 3:23 AM
> > Subject: Re: MKT Rally on light volume
> >
> > ><< The talking heads would have us believe that a bear market rally
must be
> > > sharp and strong on heavy volume and narrow breadth - not what we are
> > seeing
> > > here.>>
> > >
> > >Here I don't get your point. Are you saying this is not a bear market
> > rally
> > >but rather a "bull" market rally because we have broad breadth?
>
>
>
|