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Strategies & Market Trends : Classic TA Workplace

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To: High Country Trader who wrote (77629)	7/19/2003 5:00:20 PM
From: AllansAlias	Read Replies (2) of 209892

I'd guess LeBeau and Lucas don't trade very much. Their subject is more computer trading systems I believe. Anyway, they are confusing things by stressing holding versus entries. They are two completely different matters. While it is very true that most don't hold or add to winners ("sitting on my hands" as Livermore is quoted), one won't get a chance to do either if the entry is bad. I have been known to say "Entry is everything." This is a cute way of overstressing the point, but it is a valid point: Without a good entry, you simply don't give yourself a chance at having a winning trade. On a related point, most of the conventional wisdom and literature pertains to trading bull markets. In bear markets, the only way to win is to not hold too long. Also, entries are more difficult in a bear because you won't likely be saved by the big trend. Lots of folks get saved by this big trend in a bull market, leading many to think they are good traders -- you know what they say, "In a bull market, everyone is a genius." Cheers

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