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Strategies & Market Trends : TA- Advanced GET

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To: Craig Monroe who wrote (1007)4/20/1998 6:15:00 PM
From: Bruce A. Bowman   of 1551
 
re: money management... imo, the $$$ is made in managing the trade. That might be by simply following your trading rules or maybe by reducing risk thru reducing a position as it advances, or simply being nimble by watching the market all day. It's whatever works for you. You might want to check out Cassidy's "It's When You Sell That Counts" for some thoughts on money management.

re: failed W5 trades... I was able to trade them profitably, but the return was so small that I stopped. Remember that 0.0% is considered profitable because it wasn't a loss. XTL + RSI (which is basically trend following) seems to do better for me. Check Tom's discussion on the tapes about using XTL. XTL is possibly the best indicator he's created.

Bruce
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