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At 12:24 PM 4/14/2001 -0400, Norman Winski wrote:
>Chas, you have hit on a very importnat point. I think one major difference
>between inexeperienced traders and the old veterns is that the newbies
>concentrate on looking for reasons to trade whereas the vets concentrate on
>filtering out the losing trades or knowing when not to trade.
Agreed 100%. I trade tests of top/bottom (in whatever time frame I am
operating in) and retracements in a trend, therefore my 'do not
trade' time is when a market is in a range (in whatever time frame I am
operating in).
>My rule is "trading is
>boring.....
>if it's done right".
Hey, that sounds familiar. ;)
Not a rule for me, just a consequence.
It wasn't what I expected when I was a newbie... I remember sitting in
front of the screen feeling elated or scared depending on how a trade would
play out. Now I put on the trade and if its not on a 1 minute bar or some
such small time frame, I disappear for a coffee or a sandwich. Its all so
boring once one has a set of objective rules and learns to implement them
consistently.
Boring but satisfying.
Michael
______________________________________________
Michael Watkins
Chief Technical Officer
watkins@xxxxxxxxxxxxxxxxxxxxxxxxx
http://IntelligentSpeculator.com
Technical Tools and Trading Strategies for the Active Investor
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