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Strategies & Market Trends : Trading For A Living

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To: Street Walker who wrote (21)	5/21/1998 3:16:00 AM
From: R Stevens	Read Replies (2) of 1729

Wow! Great responses to the thread. "A great general knows how to retreat(sell) as well as attack(buy)." Good point...I have recently learned that I should take my profits much sooner in an unstable general market condition. If I look at the Nasdaq chart (like the one I've addressed below) and I see we are in a steady trend (Feb & April 98) I will hold the trade longer and let myself be greedy. But if we are at a point where the market is up and down without a clear trend, then take your profits sooner. If the market is starting to reverse downward like you see in this chart, then taking any kind of long position on a stock is extremely risky. Nasdaq Chart: cbs.marketwatch.com Good comments on the value of real time quotes. I use DBC StockEdge Online (http://www.dbc.com) and am very pleased with it. After reading some of the comments I might pay the premium and get the Level II quotes also offered by DBC. (What does Level II mean? Go here and click on the Level II tutorial) elitetrader.com Good prosperity to all, RS

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