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In a message dated 98-10-30 02:38:25 EST, zaz@xxxxxxxx writes:
> To all that defended this guy, Gary is a perfect example of what not
> to do, to convince yourself so strongly of a market opinion that you
> stubbornly hold on to a losing position. What makes it even worse is
> all the bragging and ego tripping making it all the harder to admit
> your wrong. Totally unprofessional in my opinion.
Excellent. I was thinking about this(Gary and his predictions) this morning
myself. Good lesson. Technical Analysis is nothing but a study in
probabilities. His analysis was good, but to think you can really *predict*
what the market will do is the height of arragance. The market will do what
it will, and its our job to listen. My mentor uses targets, and is right an
awful lot, but when the targets missed the trade ususally ends up a loser.
Gary did good analysis but forgot to listen to the market. Also I read once
the worst thing one can do is talk about the trades one is in. Our ego's
become attached and then we refuse to want to admit we are wrong. This can
easily be seen in Gary's behavior.
This isn't meant to demean the guy, but to learn from what he is
doing. IN that he has really performed a service.
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