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Strategies & Market Trends : TA Science Projects & Experimental Indicators
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To: Spots who wrote (129)5/31/1998 11:40:00 PM
From: ftth  Read Replies (2) of 237
 
[TA QUOTE OF THE DAY]--------------------------------

Everybody seems to be concerned about entry. Virtually all of the systems concentrate on entering the markets. This is what traders are looking for: "Gee, if I could just find a better method to get in when the market's going to move in my favor."

They totally overlook the problem of exit. An experienced or professional trader realizes the exit problem is much more difficult than the entry problem. If you're going to be successful in the long term, you really have to have an effective method of exiting as well as an effective method of entering. The average guy thinks, "Just let me get a profitable trade going and then I'll worry about how to get out." But you have to maximize your profits as well as minimize your losses. This is what people don't do. I want people to think as much about the exit problem as the entry problem.

--Bruce Babcock
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