[RT] Re: R: Is there's a method in the madness?

["Terry Smith" <tesla@xxxxxxx>]

I agree totally. Without a system to actually trade the markets all the
prediction in the world will not save you. You need to learn how to trade
first and then and only then worry about predicting the future later.
----- Original Message -----
From: "DonThompson" <detomps@xxxxxxxxxxxxx>
To: <realtraders@xxxxxxxxxxxxxxx>
Sent: Monday, June 12, 2000 5:26 PM
Subject: [RT] Re: R: Is there's a method in the madness?


> I have slowly learned that forecasting casts a particular scenario of the
> market you are forecasting as a likely and  high a probable even.  I then
am
> mentally prepared for this scenario to happen, and when it does not.  I
have
> no plan and usually end up frustrated.   If I had forecast the Nolan deep
> plunge on the 8th, I would be setting my self up for nothing in the way of
> its opposite or just the market ambling like it is now.  In short I would
be
> frozen.
>
> What I am able to do now is garner a set of probabilies for an up or down
> gap open and a probability for an  up or down close.
> Which ever has the highest odds usually takes the day.  But often its
45:55
> which then places trading back on to price and forces me to respect price,
> momentum, net issues, net volume, trin and the tick..
> For the S&P futures
>
> Don
>
> From: Terry Smith <tesla@xxxxxxx>
> To: <realtraders@xxxxxxxxxxxxxxx>
> Sent: Monday, June 12, 2000 6:25 PM
> Subject: [RT] Re: R: Is there's a method in the madness?
>
>
> > This discussion about card reading and other forms of market prediction
> > ignore one important aspect. THE MARKET YOU ARE TRYING TO MASTER. In my
> > experince the farther away from the market you get with predictions the
> > worse off you will be financially. In trying to master the markets spend
> > more time studying the actual market you have chosen and less time away
> from
> > that study. One of the best traders I know pays no attention to
Astrology,
> > conspiracies, cnbc, or anything else EXCEPT price action of the market
he
> is
> > trading. He spends his time studying the actual market he is trading. He
> is
> > still taking money out of the market while many a "fortune teller" has
> gone
> > bankrupt and left the trading arena.  Happy trading.
>
>
>
>
>