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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA
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To: High Country Trader who wrote (13709)7/23/2002 2:10:10 PM
From: J.T.  Read Replies (1) of 19219
 
There is much truth to what you say. I have seen even the supposed neutral unbiased ones get suckered into thinking the bottom was in only to get fooled on the whipsaw after getting out for a loss on the trade.
It has happened to the unbiased ones for the last several months.

The only ones making money are the ones who have held firm in their short convictions. Amazing, isn't it, you ask the question on the Bear thread who is making a killing and you get not one response.

Best to be in that 1/10 of 1% that don't have a bias but let price action (not indicators) dictate your decisions.

Agreed. I thought I would have learned my lesson last fall, but I obviously did not and now at this moment my losses have turned into a rout.

But the last thing I am going to do now is change my approach that still enabled me to make a profit last year for all of 2001, even after the melt-down.

I will certainly work toward that 1/10 of 1% as I continue to grow in my trading career.

Best regards, J.T.
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