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Strategies & Market Trends : Technical Analysis - Beginners
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To: freelyhovering who wrote (8591)9/10/1998 9:07:00 AM
From: David R. Evans  Read Replies (1) of 12039
 
Hello Myron,

YES!!!!!

I have been say the same thing for the past few years, "You make your money on the EXITS, not the ENTRIES!!!"

The longer you stay using TA the simpler your systems get... You tend to go longer term and you fight less and less over 1/8's and 1/4's..... That's not where the real money is..... The real money is in the long runs and trends....

Now please do not take this as me saying that TA is not the way to go... TA is the ONLY way to go!! What I am saying is the "HOLY GRAIL" is not any one particular indicator, it's the system you decide to use AND STICK TO that works best for you... The Holy Grail is Virtual and different for each Trader.

The system MUST include the proper entry and exit plans or it is NOT a system. Each person knows in his/her brain when they should sell, it's just a matter of getting that information from the brain to the heart.... Once trading is "ONLY BUSINESS" and nothing else TA really starts to work..

The thing we must all realize is trading, like most things in life, is an evolution. It does not just happen, it is a GROWING PROCESS that we all must go through. Once some realize that there is hard work involved they leave. It's the ones that stay that grow..

To be a good trader you must get to know YOURSELF better then you have ever known YOU. You must find out things about yourself that you may not really want to know. THAT"S GOOD because once you have completed the journey you will be a better person.

Dave Evans
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