|
PureBytes Links
Trading Reference Links
|
Disagree, Price is all you need. Markets/positions are bought or sold on the
basis of market prices relative to your expections. The transaction itself
then results in a change in volume... ie the price is the raw element ,
volume is a secondary reaction. As for momentum, well it to is a secondary
by-product as price DEFINES momentum.
Price is the ESSENCE that defines all else. Manipulation of price or
consideration of by-products like volume only distorts market structure &
hence your expectations. This is not to say that non-price considerations
dont help some traders, they do especially when a trader is looking for a "
trigger" to allow himself to actually trade.
Peter
-----Original Message-----
From: Ira <ist@xxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Date: Tuesday, 24 November 1998 17:00
Subject: Re: Gen: Wrong Lessons for trading.
>One should not use price alone as an exit criteria. there are always 3
>factors. Price, time, and momentum. One will give you the information
necessary
>to exit the trade profitably. Have a good day, Ira
>
>BrentinUtahsDixie wrote:
>
>> RT's,
>>
>> I had an idea I hope a few of you might get involved in. We have all
heard
>> (or should have) that we must un-learn many wrong lessons that we have
>> learned in life in order to be successful at trading. I'm hoping that we
can
>> come up with a list of those lessons for our mutual benefit.
>>
>> I will start out with what I call the "Hogging it lesson". Occasionally I
>> hear my father say "it's just an old fashioned idea to get the very most
>> that you can." There are times in our experience when this is true.
However,
>> I'm sure that many have had this experience. You set a profit target for
a
>> position after making a trade, the security goes within a few ticks of
your
>> target and pulls back so that you don't get filled. You may then compound
>> the mistake by holding on until the trade actually becomes a loser.
>>
>> Brent
>
>
>
>
|