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Strategies & Market Trends : One trade a week

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To: DOC who wrote (4)	11/2/1998 1:26:00 AM
From: Mike McFarland	of 89

Well, if you're making money... What do you think of this: In the end the only thing that matters is that you have to be right about the direction a stock will take--whether you trade six times a day, or six times a year. Frequent trading demands that you be right more often...so the more often you trade, the more likely you are to exceed your skill. But is being "right" and trading for lots of small gains the same thing. No. Scalping a little here and there is entirely different from finding a good stock at the right time before the market finds it. However, presuming to be able to pick stocks better than the market is folly--rarely can one individual know more than everybody else--after all, the average fund manager did not beat the dow these past ten years. I always comes back to whether a person beleives they have skill, or whether they have been lucky. Everybody always says they'd rather be lucky than right, but that is silly. Luck runs out. --MM

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