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Strategies & Market Trends : TA Science Projects & Experimental Indicators
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To: ftth who wrote (71)2/9/1998 10:04:00 PM
From: ftth  Read Replies (1) of 237
 
[TA QUOTE OF THE DAY]

Richard Wyckoff, on market presence:

Being in the market at all times is not the key to profits. There are several clear signals that warn you to pull out of the market. The first is a technical warning--your analysis gives unclear, confused signals. The other two are emotional warnings--you notice yourself relying on "instinct" rather than research and you notice a growing or chronic indecisiveness about executing trades. If at any time, you find yourself powerless to move because you haven't the nerve to trade, make trades on paper until confidence returns.

Staying out of the market is as much a strategic move as being in it. Never get the idea you must be in the market all the time. In fact, plan to go completely liquid at intervals to prevent yourself from going stale, and to keep a fresh, clear perspective. It is much better to make one commitment a month that realizes a profit than to trade every day and show a net loss.
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