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Strategies & Market Trends : Bob Brinker: Market Savant & Radio Host

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To: geode00 who wrote (13514)4/8/2001 2:05:45 AM
From: timers  Read Replies (3) of 42834
 
I would say you should always make the trade to the side of your convictions. If your convictions are that the market is in a bear then the only responsible longer term trade is a short. If it goes up then you have the conviction to add and bring your average up. Trading long in what you think to be a bear market allows no conviction to add to your postition if and when it moves against you - as should be done if your long position falls to bring the average up. Trading long in a bear market is nothing less than precision surgery and the trader must be very nimble and exit quickly if mkt doesn't perform as expected due to the fact that conviction won't be there to hold and add. Always trade to the side of your conviction unless you need more drama and potential losses imho. Where is the honor in that? I believe there is no dishonor in playing the market correctly. It's a market.
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