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Hello
One of the most important thing in trading is:
a: NO distractions.. i.e. (mute the sound of
CNBC)
b: Before you enter the trade YOU MUST HAVE a
WRITTEN plan
c:at what price to enter
d:at what price to exit FOR PROFIT
e: where is the stop loss?
YOU MUST HAVE IT ENTERED immediately after you get your
fill!!
there are no exudes for losses,, only the lack of a stop
loss
f you can still let your profit run IF the
trend CONTINUE your way,,
JUST move stop loss up on a long trade and DOWN on a short
trade
if you have a better then 80% probability and you do not
trade,, you are throwing money out the window
g: you must ACT on your WRITTEN plan
hope this helps a lot of you
because this is MORE important then timing,, technical
or market direction!!!!!!!
best regards
Ben
<BLOCKQUOTE
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----- Original Message -----
<DIV
style="BACKGROUND: #e4e4e4; FONT: 10pt arial; font-color: black">From:
Michael
Ferguson
To: <A title=realtraders@xxxxxxxxxxxxxxx
href="mailto:realtraders@xxxxxxxxxxxxxxx";>realtraders@xxxxxxxxxxxxxxx
Sent: Tuesday, August 28, 2001 6:27
PM
Subject: Re: [RT] Value???
same for me; what I do is get nervous and start
reading email, or the chat room transcript, anything to distract myself. even
wrote a little homily and sent it to you. hope you don't find my lectures
boring.
so tomorrow I am going cold turkey with no chat,
no email, and no other distractions.
BTW, if you are pretty convinced you will
see the market go down and tag 1150, how about you sell one and ride down to
your target, hmmmm? cause all those levels we see down there are profit
targets of the shorts. that's what the S & R levels are about,
targets. I wish I were 1/10th as good tactically as I am strategically. gotta
cut loose with some trades.
the really funny thing is that I have made trades
via cell phone from the boat on salmon trips. weirdness.
we might not look like much now but we gonna make
it.
OR, as the plaque in the wheelhouse
says:
<FONT color=#ff0000
size=4>No task will be evaded merely because it is
impossible.
<FONT face=Arial
size=2>
Michael
----- Original Message -----
From: "Don Thompson" <<A
href="mailto:detomps@xxxxxxxxxxx";><FONT face=Arial
size=2>detomps@xxxxxxxxxxx>
To: <<A
href="mailto:realtraders@xxxxxxxxxxxxxxx";><FONT face=Arial
size=2>realtraders@xxxxxxxxxxxxxxx<FONT face=Arial
size=2>>
Sent: Tuesday, August 28, 2001 17:08
Subject: [RT] Value???
<FONT face=Arial
size=2>> Hey ok,, :)> What I do to figure out the value for the
which is the average price of the> day based on an 8 tick bar chart of
es.> I paste thru the day the transactions.. Here is today's sheet.
with the> distribution as a histogram> It think two devs is down
near 1160 or so. Longer term its 1150... I am> hoping to catch
the extreme. ....> Thanks for the charts ..> How did it go
today? I am still a chicken s__t.. splat.> Don> -----
Original Message -----> From: "Michael Ferguson" <<A
href="mailto:wl7bdn@xxxxxxxxxxxxx";><FONT face=Arial
size=2>wl7bdn@xxxxxxxxxxxxx>> To:
<<FONT face=Arial
size=2>realtraders@xxxxxxxxxxxxxxx<FONT face=Arial
size=2>>> Sent: Tuesday, August 28, 2001 5:51 PM> Subject:
Re: [RT] s&p> > > > charts ----> hey, I
forgot> >> >> >> >> > >
Earl's prognosis was wisdom today, and in hindsight his symmetrical>
levels> > > played well. double distribution was the winning
guess, but it was> > decidedly> > > UN-symmetrical.
where is value zone tonight?> > >> > > tomorrow's
pivot # 116953 is today's S3> > >> > > Weekly chart
has S2 at 114397. Weekly S1 actually did a pretty good job> of>
> > halting the bear trot. Just above S2 is the 150% expansion of
the> 09/01/00> > > to 12/22/00 portion of the decline.
Speaking of decline, I decline to> > > further embarrass myself
by trying to label it, but the fib tool has> been> > >
stunningly effective at containing the tails. Or tales perhaps.> >
>> > > I am a slow learner, it is only recently that a drop
thru 3 levels of> > > calculated support on the daily charts
suggested that a look at the> weekly> > > was in order for
the next intraday targets. duh.> > >> > > well, wed
is turn day (+/- 2 ;), so something interesting to look>
forward> > > to.> > >> > > good night
owl> >> >> >> > To unsubscribe from
this group, send an email to:> > <A
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size=2>realtraders-unsubscribe@xxxxxxxxxxxxxxx<FONT face=Arial
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