LindyBill's Ballroom Message Board

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Strategies & Market Trends : LindyBill's Ballroom

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To: LindyBill who wrote (19)	9/29/2001 7:58:06 PM
From: Mathemagician	Read Replies (1) of 248

The main difference with me now is that I am ready to "trun on a dime" at any market change. Sounds great. Now, what I've been trying to get you to do on that other thread is to pin down exactly what a "market change" is. And I don't mean things like "when I feel like it has changed", though that is certainly a valuable part of it. By not defining a market change using at least some empirical criteria, you are exposing yourself to the possibility of hanging on to hope when in reality there may be none. i.e. not taking action because of emotion. That is exactly the danger that I perceive you to be trying to escape! My goal is similar and my reaction to this was to adopt the systematic use of risk/reward criteria and stops, the specific levels of which are fixed at the beginning of a trade and are not subject to change. Well, I allow myself the limited use of a $0.25 per share fudge factor just to keep things interesting. ;) dM ('d' for dancing! If you'd prefer, maybe an 'h' for hopping?)

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