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<DIV><FONT color=#000000 size=2>A friend of mine made $300,000 this year. He has
been a breakeven trader for the past decade. What is the reason for the change?
He finally came to accept the fact that <STRONG><U>for him </U></STRONG>the
daily market fluctuations were essentially a random walk. Starting with that
premise he came up with a system based on a leading indicator and backed it with
100% margin on his $500,000 account. He was in the market only 20% of the time
trading the short term swings of 2 to 4 days (He uses a 1 day stop). What
is astonishing is that he had only 1 small losing trade out of
15. What is the main reason for his success? I think that central to the
turnaround is the <STRONG><U>change in attitude </U></STRONG>from thinking
that he could forecast to humbling admitting that he could not. Once the faulty
premise that he could forecast what a million traders would do was expunged from
his mind, he could then focus on a game plan that might exploit a market
inefficiency or setup or leading indicator. He realizes that the NASDAQ was up
80% last year and because he trades mutual funds, he must be primarily long, but
he maintains that even in a bear market there will be rallies and so long as the
sun moves from New York to Chicago to Los Angeles he will be able to make $.
</FONT></DIV>
<DIV><FONT color=#000000 size=2>For an example read Marty Schwartz'
<STRONG><U>Pitbull</U></STRONG></FONT></DIV>
<DIV> </DIV>
<DIV><FONT color=#000000 size=2>George</FONT></DIV></DIV></BODY></HTML>
</x-html>From ???@??? Sun Jan 09 18:30:49 2000
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Reply-To: "ROBERT ROESKE" <bobrabcd@xxxxxxxxxxxxx>
From: "ROBERT ROESKE" <bobrabcd@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
References: <NDBBJINBMLFPEGGKKJEKIEMLCFAA.OnWingsOfEagles@xxxxxxxxxxxxx>
Subject: [RT] Re: MKT: OEX / HV part 2
Date: Sun, 9 Jan 2000 14:06:08 -0800
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Status:
Wheres the chart GB? Here's mine. Note the buy last week.
BR
----- Original Message -----
From: Gitanshu Buch <OnWingsOfEagles@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Sunday, January 09, 2000 1:53 PM
Subject: [RT] MKT: OEX / HV part 2
> It is time to expect a contraction in price volatility in the next
> week...although the VIX started doing it on Thursday.
>
> Comments on chart.
>
> Gitanshu
>
>
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