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I believe that all emotions are the enemy of traders. I also believe that
it is important to have a "trading room". A room you use only for your
business of trading and you never work outside that room or use it for any
other purpose. You have work hours and you *work* the hours you have
established. Both for diagnosis and for trades.
Making trading a profession and your work is possibly the most important
facet of becoming successful. If you are having a lot of fun doing it, you
probably aren't doing what you should be doing. It's hard work and make no
mistake, it IS work.
Also, when the work day you have pre-established is over, forget work and
enjoy life. Don't allow yourself to be drawn into discussions on stocks or
futures or anything else to do with your work.
My God ... I just heard that France is going to work with Germany against
U.S. interests. Without America, they'd all be speaking German. I do not
understand the French people .. I never have. Oh well ..
Good trading ...
Bob
At 03:11 PM 1/22/2003 -0800, you wrote:
>Bias and hope, the traders worst enemies.
>----- Original Message -----
>From: "EarlA" <earl.a@xxxxxxxxxx>
>To: <realtraders@xxxxxxxxxxxxxxx>
>Sent: Wednesday, January 22, 2003 2:31 PM
>Subject: Re: [RT] Market
>
>
> > The "bounce" in whatever form is overdue in both price and time. My gut
>says
> > that the downside risk is now much greater than the upside. I don't know
> > what the future will bring, however I closed out the last of my long
> > position trades today so I can rethink the market with neither bias nor
> > hope.
> >
> > Earl
> >
> > ----- Original Message -----
> > From: "BobsKC" <bobskc@xxxxxxxxxxxx>
> > To: <realtraders@xxxxxxxxxxxxxxx>
> > Sent: Wednesday, January 22, 2003 2:19 PM
> > Subject: Re: [RT] Market
> >
> >
> > > I had only one short term trade today and that was HD which stopped me
>out
> > > for a 1/2 point loss. Just had 1K of it so I'll live and my block in LU
> > > moved nicely on positive statements from the lady CEO there. I'm not
> > happy
> > > being long or short right now due to earnings and other fundamentals but
> > > still, a dead cat bounce is due too .. soooooo... I'll watch for a bit.
> > >
> > > Bob
> > >
> > >
> > > At 02:14 PM 1/22/2003 -0500, you wrote:
> > > >would not be surprise to see a sell off
> > > >at end of day, and break previous low
> > > >Ben
> > > >----- Original Message -----
> > > >From: "EarlA" <earl.a@xxxxxxxxxx>
> > > >To: <realtraders@xxxxxxxxxxxxxxx>
> > > >Sent: Wednesday, January 22, 2003 1:38 PM
> > > >Subject: Re: [RT] Market
> > > >
> > > >
> > > > > I'm not at all keen on this market action, certainly not bullish.
>Not
> > only
> > > > > did price break through the 985 area but the decline has extended
>into
> > > > > Wednesday. Market is trading very heavy.
> > > > >
> > > > > Earl
> > > > >
> > > > > ----- Original Message -----
> > > > > From: "EarlA" <earl.a@xxxxxxxxxx>
> > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > Sent: Friday, January 17, 2003 10:43 AM
> > > > > Subject: Re: [RT] Market
> > > > >
> > > > >
> > > > > > Answer in attached chart. Initial confirmation of this move will
>be
> > > >taking
> > > > > > out the 935 high in the SPX. A move much below the 895 area would
> > call
> > > > > this
> > > > > > route into question as would continued decline beyond Tuesday.
> > > > > >
> > > > > > Earl
> > > > > >
> > > > > > ----- Original Message -----
> > > > > > From: "Kent Rollins" <kentr@xxxxxxxxxxxxxx>
> > > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > > Sent: Friday, January 17, 2003 10:34 AM
> > > > > > Subject: Re: [RT] Market
> > > > > >
> > > > > >
> > > > > > > >If 954 is taken out, I believe it will be Katy bar the door
> > > > > > > >for a very fast move.
> > > > > > >
> > > > > > > You mean a fast move to 954, or a fast move past 954? If past
> > 954,
> > > > > where
> > > > > > do
> > > > > > > you think it will go?
> > > > > > >
> > > > > > > Kent
> > > > > > >
> > > > > > >
> > > > > > > ----- Original Message -----
> > > > > > > From: "EarlA" <earl.a@xxxxxxxxxx>
> > > > > > > To: <realtraders@xxxxxxxxxxxxxxx>
> > > > > > > Sent: Friday, January 17, 2003 7:44 AM
> > > > > > > Subject: Re: [RT] Market
> > > > > > >
> > > > > > >
> > > > > > > I am seeing cup and handle formations in nearly all of the major
> > > >equity
> > > > > > > indexes. Then NASDAQ has already completed a higher high and
>this
> > move
> > > > > up
> > > > > > > has been nicely confirmed by all 3 NASDAQ breadth models:
>issues,
> > > > > > high/low,
> > > > > > > and volume. The OEX actually managed to break out above the
>weekly
> > > >bear
> > > > > > > market trendline before pulling back. The NYSE has been the weak
> > link
> > > >in
> > > > > > the
> > > > > > > rally with non-confirming On Balance Volume and modest
>divergences
> > in
> > > > > the
> > > > > > > breadth models. Recently, the market has been handling bad news
> > quite
> > > > > > well.
> > > > > > > Finally, all indexes were overbought on momentum indicators.
> > External
> > > > > > > indicators have been a bit positive: SP COT commercials
> > substantially
> > > > > > > lightened short positions last week (this week's should prove
> > > > > > illuminating),
> > > > > > > put/call remains constructive, and VIX has been moving back up.
> > > > > > >
> > > > > > > Had the markets attempted to breakout from recent levels, I
>would
> > have
> > > > > > been
> > > > > > > aggressively shorting the breakout. I view this decline as
> > > >constructive
> > > > > as
> > > > > > > long as it does not get out of hand. My current view is that the
> > > >market
> > > > > > will
> > > > > > > move down into the Friday/Tuesday date confluence (closed
>Monday),
> >
> > > >then
> > > > > > > rally strongly into mid-February. This is an inversion to what I
> > had
> > > > > > > expected, however one must follow the market's lead. I will be
> > looking
> > > > > for
> > > > > > > good support and long entries in the SPX 900 range. If all falls
> > into
> > > > > > place,
> > > > > > > it may be an unexpected piece of good news which tilts the
>market
> > into
> > > >a
> > > > > > > strong rally. If 954 is taken out, I believe it will be Katy bar
> > the
> > > > > door
> > > > > > > for a very fast move.
> > > > > > >
> > > > > > > Earl
> > > > > > >
> > > > > > > ----- Original Message -----
> > > > > > > From: "ira" <mr.ira@xxxxxxxxxxxxx>
> > > > > > > To: "REAL TRADERS" <realtraders@xxxxxxxxxxxxxxx>
> > > > > > > Sent: Thursday, January 16, 2003 9:09 PM
> > > > > > > Subject: [RT] Market
> > > > > > >
> > > > > > >
> > > > > > > Looking at many of the charts, I don't know if I would want to
>be
> > > >short
> > > > > > > going into tomorrow.
> > > > > > >
> > > > > > >
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> > > > > > >
> > > > > > >
> > > > > > >
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> > > > > > >
> > > > > > >
> > > > > > >
> > > > > > >
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> > > > > > >
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> > > > > > >
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> > > > >
> > > >
> > > >
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> > >
> >
> >
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> >
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>
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