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Strategies & Market Trends : Technical Analysis - Beginners

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To: PeterS who wrote (8298)	4/19/1998 7:16:00 AM
From: Lee Lichterman III	Read Replies (2) of 12039

I will let David give the insight on TA however I wanted to post regarding the Millionaire observation. Those with money can buy and hold and do well. Many of us are small time and build our wealth more quickly by trading. I started with $600 way back used one of the first online cheap brokers and turned profits well in excess of anything I could have received through the buy and hold approach. My tax rate was only 15% etc etc. Now as I move up in the world, I have to trade in my IRA account and minimize the trades in my regular portfolio only doing those that will pay the tax man and still leave me enough profits leftover. Trading maximizes the runs and minimizes the waiting or retreating thus keeping your money growing daily. Once I get to the stage where I can buy and hold a million shares of MSFT and Berkshire Hathaway, I too will just buy and hold. <ggg>

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