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Strategies & Market Trends : Technical Analysis- Indicators & Systems
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To: Dick Brown who wrote (806)4/21/1997 7:54:00 PM
From: Richard Estes   of 3325
 
While I have only traded MSFT a couple of times, It is one of the rare companies I knew that could only go up. Ever since I bought their level III basic for my TRS-80 in 1980. But unless price goes up, it don't mean a thing. Selection is important. How many times have I said you can't make a silk purse out of a sow's ear. I suggest the CANSLIM method is the best. BUT if you pick a bad stock or a good stock, a system that has shown the ability to get you out with small losses and keep you in for bigger profits, Is going to be better than flying by seat of pants. The tests are a good approximation of what would happen. they aren't put here to suggest get rich quick. you faulted me for picking an MSFT or INTC, I did it because they were familiar names. I showed both Winners and loosers in comparsion. When you said selecting stock was key to profits in TA, out came IBM example of someone who makes mistake and wants IBM in 1987 and marries the stock. went down a list to dahl, there were systems that made double the amount it had, and showed it because it was familiar. Tried to show it helps bad picks as well. The only difference between what you say and what I say is I believe from experence that An objective system is the only way to trade market, I have never seen anything to change that belief and I look, more than 99 out of a 100.
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