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Great statement Ira. Greed and fear can propel the markets - but not always
in the direction that the greedy and fearful expect. Much better to have a
plan for being around the next day. My thoughts anyway.
Jack
-----Original Message-----
From: Ira <ist@xxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Thursday, November 19, 1998 9:17 PM
Subject: Re: [Fwd: Re: MKT: S&P Looking Tired]
>It is not a matter of what we think will happen it is a matter of planning
>for no matter what happens. I have a plan that will take me short when my
>system says get short. I have a plan to exit the long position when my
>system says to exit and I have a plan if the system says to get long. My
>target of 1160.9 was not hit. It should be a resistance point on the way up
>and then support when it is passed. should I stay long to get the last 1+
>points. I think I would be a fool risk 53 points to get one. Or risk 27
>points to get one. or risk 10 points to get one. I would reenter when the
>system says to reenter. I don't have to stay around for the swan song and
>if it has a 10 point jump tomorrow morning, oh my, I would miss it. There
>will be another trade, that I can count on. good trading, Ira
>
>
>
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