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Strategies & Market Trends : Waiting for the big Kahuna
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To: William H Huebl who wrote (11804)12/17/1997 10:21:00 PM
From: CatLady  Read Replies (1) of 94695
 
Thanks Bill,

I've been actively trading for about four months now, and actually making money at it for about 1 month.

Best thing I did was to read Dr. Elder's book, "Trading for a living"
He explains the psychology behind T.A. very clearly.

I'm using the basic stuff, MA, MACD, A/D & Stochastics to try to pick
short term moves. ( one day at a time )

First I look at DJ-30 & NDX for market direction. Then I try to find
stocks I like ( or dislike for shorts ) on fundamentals that seems to
want to go in the same direction as the index. If that happens to agree with your read on market direction, so much the better.

I agree on not putting eggs in one basket. Although sometimes I need to remind myself that 4 different stocks in the same sector isn't diversifying. ( Who else here owned 4 disk drive companies in October? )

CL
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