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I agree with that too. I would substitue "ego" for brain, and "blank mind or
flow" for eyes. Whenever one trades the flow one is safe. But as soon as ego
steps in, it's all over.
I just stepped out of some of the market, because my eyes told me, that's it.
What else could I do?? I didn't say the market stops here, or should stop here.
I am the one stopping here, because my eyes told me so. I don't know what will
happen now, but I know I will be ready for the next opportunity now, whatever it
is.
Never mind,
Gwenn
rlopes wrote:
> can you please define "oversold" to me or "overbought". It is apparent that
> you have been trading the uptrend in the nasdaq 100 (tech stocks) by 1)
> noticing a trend and then positioning yourself in that trend when
> retracements have taken place. How you "time" your entries I believe has
> more to do w/ entering on a climax of selling pressure (w/in an UPtrend) or
> noticing/SEEING when the retracement has ended. If you believe that
> "oversold" conditions exist and you can capitilize on that then more power
> to you. It does suit my trading to believe such things. As far as my
> "brain" is concerned, all I can say (from experience) is that my "brain"
> ,meaning my "analysis" has cost me more money than my eyes have ever cost
> me. And from what I have seen in over 16 years of trading that I am not the
> only one this ailment has effected. LTCM as a prime example.
>
> Whatever works for you, I know what works for me.
>
> Brainless,
>
> Randy Lopez
> ----- Original Message -----
> From: "Steve Karnish" <kernish@xxxxxxxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Friday, February 25, 2000 9:11 AM
> Subject: [RT] Re: There is always "a morning after"
>
> > Randy writes:
> >
> > I believe this idea of "overbought/Oversold" is hogwash. I believe it was
> > Pablo Picasso who said, " If only we could pull out our brain and use only
> > our eyes."
> >
> > I can only assume, after the reading the above statement, the brain has
> > already been removed. In fact, maybe the eyeballs were also plucked. I
> use
> > oversold indicators to time into the NASDAQ 100 stocks. After viewing the
> > last year of signals at my site...please advise if their is a better way
> to
> > time into these volatile issues.
> >
> > I'm all eyes, the synapses stopped firing years ago,
> >
> > Steve Karnish
> > Cedar Creek Trading
> > http://www.cedarcreektrading.com
> >
> > ----- Original Message -----
> > From: rlopes <rlopes@xxxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxxxxxxxxxxxxx@realtraders.com>
> > Sent: Friday, February 25, 2000 7:20 AM
> > Subject: [RT] Re: There is always "a morning after"
> >
> >
> > > I think what you've said here is right on target. I have missed my fair
> > > share of profits from this same type of analysis. I believe this idea
> of
> > > "overbought/Oversold" is hogwash. Where else in life does one come
> across
> > > the notion that something is "overbought" or "oversold" This only comes
> > > from tech analysis of the markets and whoever came up with this notion
> has
> > > gotten a whole lot of people to buy into this. Let's look at what is
> > > ACTUALLY happening here. The Nasdaq stocks are going up. If this is
> > indeed
> > > the infancy of the building of a global network of communication and
> > > business, and these products are on the verge of becoming main stream
> > > globally, then who can say what price these companies supplying the
> > > infrastructure can go to? As I look around networked communications
> have
> > > just started to be built. The tech stocks are giving a CLEAR signal,
> this
> > > sector of the market is still going up. Our jobs as traders is not to
> > lead
> > > the market but to follow and adjusted as we SEE conditions change. I
> > > believe it was Pablo Picasso who said, " If only we could pull out our
> > brain
> > > and use only our eyes."
> > >
> > > Just thinking out loud
> > > Good trading,
> > >
> > > Randy Lopez
> > > ----- Original Message -----
> > > From: "Phil Lane" <patterntrader@xxxxxxxxxx>
> > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > Sent: Friday, February 25, 2000 6:13 AM
> > > Subject: [RT] Re: There is always "a morning after"
> > >
> > >
> > > > Just to show you what can happen, a friend of mine was doing great in
> > > stocks
> > > > back in the early 90s. But suddenly he decided the market was too high
> > and
> > > > sold out. Has been out ever since!
> > > >
> > > > rgds phil
> > > >
> > > >
> > >
> > >
> > >
> >
> >
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