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Strategies & Market Trends : Booms, Busts, and Recoveries
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To: Raymond Duray who wrote (63425)5/4/2005 9:10:07 PM
From: Moominoid  Read Replies (2) of 74559
 
Since getting back into this part-time trading I can see the mistakes I already made. The problem is always getting overconfident once you think things are worked out. I need to be very disciplined not to over leverage. That is where I blew up before. I don't much like options either. Will only buy pretty deep in the money now or a long time out. Another thing is to only make trades you are really sure about which the "system" validates. I don't think I will ever have a system that is automatic. You still ahve to look at everything and integrate all the information. Much of the info out there about TA is completely invalid. It is no surprise that financial economists can't find any evidence that it works (those that do like me (though I'm not a financial economist) maybe stay quiet and make money rather than publish :)).

As my account is rusty from lack of use they have so far stopped me from doing a couple of dumb things :) For example, under my previous Aussie broker I could trade "warrants". They got taken over by these other guys in my absence and this evening they just stopped me from buying warrants. Need to send some forms to Australia first... That was good, as the stock kept going the wrong way :P
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