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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: ynot who wrote (375)7/19/1999 1:29:00 AM
From: Teresa Lo  Read Replies (1) of 19219
 
Well, many people are lured into options because a relatively small amount of capital can be leveraged but it also works in reverse, so I don't recommend beginners to trade options. The most important thing in trading is risk and money management. Taking a risk of losing more than 2% equity in any one trade causes one's probability of ruin to go very high. Trading is a business and one should not go into it without adequate capital.

In my opinion, one should always know some fundamentals of a company but when what you see on the screen goes against what you believe, always believe the screen because all the people who know anything are taking action in the market. Price never lies.

TA is defined differently for most people. In my work, which I practice everyday, it's quite simple to detect trends. I am adding a whole new section into the Trading FAQ this week sometime, and it goes over the whole thing. At the site, we do this live every minute of the trading day with great success - the key is to use something that is right for the job, namely Welles Wilder's Average Directional Index. Some people like average true range. Our Nasdaq Trader nailed MCOM on the short side and I posted posts from the chat transcript to Message 10461395 and wrote an article on it intelligentspeculator.com as well.

I have an extensive background in cycles. My mentor, Ian Notley, won an award several years ago for his work from the Market Technician's Association. However, in my trading, I don't use cycles work anymore because I don't think it works too well for the kind of trading that I do.
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