|
PureBytes Links
Trading Reference Links
|
<x-html><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<HTML>
<HEAD>
<META content=text/html;charset=iso-8859-1 http-equiv=Content-Type><!DOCTYPE HTML PUBLIC "-//W3C//DTD W3 HTML//EN">
<META content='"MSHTML 4.72.3509.100"' name=GENERATOR>
</HEAD>
<BODY bgColor=#ffffff>
<DIV><FONT color=#000000 size=2>Hi Linda,</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT size=2>If you find or develop a system in which you have total
confidence then you should let that system find the stock for you rather than
you find the stock for the system. IMHO if you can't find or develop a
system you have total confidence in then you should continue to hone your skills
as a discretionary trader where YOU become the system.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>I personally don't think most people can become successful at
consistently trading stocks in only eighteen months. I used to be a very
successful stock broker and also made markets in many OTC stocks. I
thought I could transfer that success into being a home-based off floor
trader. Not so. Its been six years and its only been the last 11/2
years that I've been consistently profitable. Although I'm an exclusive
futures trader I think the learning process is similar for trading stocks
off-floor - patience, patience, patience.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>I've personally tried to apply several systems to my own
trading and discovered that I didn't have the stomach to sit through the
inevitable drawdowns and strings of losing trades. I know that systems are
great for many traders but they didn' t work for me. Please don't
construe this as any type of advice. I just want you to know there are
others of us that have felt the frustration of what you are going through and I
am trying to give you some food for thought.</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2>I know you're a day-trader which makes it "a must"
that you consistently keep losses to an absolute minimum(which you indicated you
were in a previous post).</FONT></DIV>
<DIV><FONT size=2>I believe the secret to the consistency you seek will be found
ultimately in having a small handful of big winners each month. I must say
however that the turning point for me personally came when I consistently
limited my individual losses.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Hope this has been of some value to you. Have a nice
weekend.</FONT></DIV>
<DIV><FONT size=2></FONT> </DIV>
<DIV><FONT size=2>Pete Hallock</FONT></DIV>
<DIV> </DIV>
<DIV><FONT size=2></FONT><FONT face=Arial size=2><B></B></FONT> </DIV>
<DIV><FONT face=Arial size=2><B>-----Original Message-----</B><BR></FONT></DIV>
<DIV><FONT face=Arial size=2><B></B></FONT> </DIV>
<DIV><FONT face=Arial size=2><B></B></FONT> </DIV>
<DIV><FONT face=Arial size=2><B>From: </B>Linda Swope <<A
href="mailto:linda@xxxxxxxxxxxxxx";>linda@xxxxxxxxxxxxxx</A>><BR><B>To:
</B>RealTraders Discussion Group <<A
href="mailto:realtraders@xxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxx</A>><BR><B>Date:
</B>Thursday, October 29, 1998 8:35 PM<BR><B>Subject: </B>trading
systems<BR><BR></DIV>
<BLOCKQUOTE
style="BORDER-LEFT: #000000 solid 2px; MARGIN-LEFT: 5px; PADDING-LEFT: 5px"></FONT>
<DIV><FONT color=#000000>Good evening Real Traders,</FONT></DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV><FONT color=#000000>I'm trying to get a feel for trading systems, as I
have never used one. Who among you uses a system and why do you need
to rather than just read charts? Who used to use a system and went
back to discretionary trading? Is it possible to use a combination of
both?</FONT> </DIV>
<DIV><FONT color=#000000></FONT> </DIV>
<DIV>Metastock allows me to test systems, but it seems different stock
patterns respond better to different systems. And different systems respond
better with different optimizations. How on earth would you know which
one to apply to a stock that catches your eye? Hindsight is wonderful,
but it's real money I'm committing.</DIV>
<DIV> </DIV>
<DIV>If it sounds like I'm going in circles, it's because I am. After
18 months of discretionary trading I'm still trying to put it all together
for some consistent results. Consistent is the keyword.</DIV>
<DIV> </DIV>
<DIV>Thanks again to all so kind to respond!</DIV>
<DIV>Linda</DIV>
<DIV><FONT color=#000000>Linda Swope<BR>Swope's Mountain
Photography</FONT> </DIV>
<DIV><FONT color=#000000>**Climb the mountains & get their good tidings;
Peace will flow into you as sunshine into flower; the winds will
blow their freshness into you & storms their energy, & cares
will drop off like autumn leaves. John
Muir**</FONT></DIV></BLOCKQUOTE></BODY></HTML>
</x-html>From ???@??? Fri Oct 30 16:19:49 1998
Received: from list.listserver.com (198.68.191.15)
by mail02.rapidsite.net (RS ver 0.3) with SMTP id 12553
for <neal@xxxxxxxxxxxxx>; Fri, 30 Oct 1998 18:33:05 -0400 (EST)
Received: from localhost (localhost [127.0.0.1])
by accessone.com (8.8.5/8.8.5/PIH) with SMTP id PAA09862;
Fri, 30 Oct 1998 15:31:15 -0800 (PST)
Received: from imo23.mx.aol.com (imo23.mx.aol.com [198.81.17.67])
by accessone.com (8.8.5/8.8.5/PIH) with ESMTP id PAA09622
for <realtraders@xxxxxxxxxxxxxx>; Fri, 30 Oct 1998 15:27:05 -0800 (PST)
Received: from Proffittak@xxxxxxx
by imo23.mx.aol.com (IMOv16.10) id TTCSa02329;
Fri, 30 Oct 1998 18:12:55 -0500 (EST)
Message-Id: <1c46252f.363a47f7@xxxxxxx>
Date: Fri, 30 Oct 1998 18:12:55 EST
Reply-To: Proffittak@xxxxxxx
Sender: owner-realtraders@xxxxxxxxxxxxxx
From: Proffittak@xxxxxxx
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Re: sp500 update
Mime-Version: 1.0
Content-type: text/plain; charset=US-ASCII
Content-transfer-encoding: 7bit
X-To: traderksw@xxxxxxxxxxxxxxxx
X-Cc: realtraders@xxxxxxxxxxxxxx
X-Mailer: AOL 3.0 for Windows 95 sub 64
X-Listprocessor-Version: 8.1 -- ListProcessor(tm) by CREN
X-Loop-Detect: 1
X-UIDL: 0c2fc391091cfd8049856f99046f55b5
In a message dated 98-10-30 14:22:37 EST, you write:
<< Earl, Ben
Granted that there is negative divergence in the McOsc, but given the
seemingly characterisic lengthy lag times for response of prices (weeks to
months - at least from recent historical examples) wherein lies the value of
this divergence as a timing tool in the immediate present/future?
Or, alternatively, are you guys viewing this divergence as an enabling
indicator which sets the stage for the directional move which you don't act
on unless and until your proprietary triggering indicators (which I trust
you will share with the RT brotherhood before Gary makes his next prediction
or Slick Willie is re-elected) signal the exact timing of an entry.
Pearls of wisdom appreciated by all, Ken
>>
hello to all
you are correct in asuming that a berish divergence take time to materilze
avrage is 5 buss days
BUT
when you overlay the health index over the price you can see very easy
that
the fall is eminennt
i will let bob r have the honor of sending us the gif of it
there is also the 19 day exp m/a of new hi minus new low as a pecentage of
total issues.
it also showing negative signiture
if someone can post the McCullalen on WEEKLY
it will put the nail in the coffin for the bulls
regards
Ben
|