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Strategies & Market Trends : Technical Analysis - Beginners

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To: David R. Evans who wrote (8545)	9/7/1998 3:46:00 PM
From: Terry Mitchell	Read Replies (2) of 12039

Dave, another great post. I started playing with TA over a year ago but it was not going well about 8 or 9 months ago. With your help I am now doing much better and have been out doing the overall market since. In retrospect my worst trades have been when I have let my knowledge & emotions of a company affect my decision. These are stocks that were kicked out during scans but I would not have bought except I let my expectations of the company affect my decision to buy. I almost always get punished when I do that. I have seen you and others warn against doing it but I guess I just had to learn the hard way. You LU example really fits with me. I bought LU when Dahl went long, I serious thought of selling when MACD (13-34-89) went short but this was LU it's just taking a breather. If it was any other stock I probably would have sold it. Which does lead me to a question what would be the recommended course of action in a situation like this? Sell & take was is still a pretty good profit, hold till Dahl gives a sell or Dahl stays long and use MACD got get out. I have been not been using Dahl lately as a buy/sell indicator but only for confirmation. Terry

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